Mark Zandi Quotes

I think the millions of people who had been able to renegotiate their mortgages so they are paying lower interest rates are better off.

Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.

And I think we need a combination of a freeze, potentially, and also we need to sit down with the - with the banking industry and talk to them about ways in which we can help them be able to work those mortgages out, because it's absolutely imperative that we keep people in their homes.

Your mortgage shouldn't have been treated as a wager - it should be a way to provide a home and financial stability for you and your family.

Escrow accounts are an important tool for homeowners to the reduce the risk of mortgage default on high-priced loans. Millions of Americans, including my wife and I, utilize these accounts to make monthly payments towards the annual financial obligations that come with homeownership like taxes and insurance.

If you're going to live in the house make it your goal to just pay off your mortgage.

While I encourage people to save 100% down for a home, a mortgage is the one debt that I don't frown upon.

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years.

Some financial advisers say anyone who may move in less than seven years should not take out a reverse mortgage.

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.

We have seen the big loan servicers drag their feet in the Obama administration's well-intentioned mortgage modification program.

I ran a 'loan modification machine.'

Especially if you're over 40, shortening the term of your loan to pay it off sooner could make you mortgage-free in retirement.

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.

It's cheaper to buy a house and finance it than it is to rent in many markets.

The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.

Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

You don't want to have so much money going toward your mortgage every month that you can't enjoy life or take care of your other financial responsibilities.

Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?

The Federal Government is achieving its stated goal of helping more minorities go from being renters to being owners.

Homeowners refinance their loans when interest rates go down. Businesses refinance their loans.

Every loan that we did in the City of Detroit in the 10 years they studied - between 2005 and 2014 - were conventional FHA, VA loans with average interest rates of 6%.

Going on loan really benefits you.

We want to help Canadians be able to get a home that they can afford.