I have enjoyed reading your blog. I have worked in the mortgage industry for the last 13 years. I think you are exactly right and that there are disadvantages either way. However this issue could be solved by requiring education with a simple 30 to 45 min. video just like we require in the student loan market. Then you could require the borrower to answer questions. However you may want to ask, do the people in this business really want to educate their borrowers. As you can see from our website, we are very interested in educating our borrowers. We are one of few lenders in our community that put calculators (free) right on our website. Please visit us at www.emortgageLouisville.com

I have enjoyed reading your blog. I have worked in the mortgage industry for the last 13 years. I think you are exactly right and that there are disadvantages either way. However this issue could be solved by requiring education with a simple 30 to 45 min. video just like we require in the student loan market. Then you could require the borrower to answer questions. However you may want to ask, do the people in this business really want to educate their borrowers.