Better Approaches to Home Loans?: Professor Dan Immergluck asserts the need for long-term, fixed-rate mortgages in the U.S.

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In his op-ed, Professor Dan Immergluck asserts the continued need for long-term, fixed-rate mortgages over adjustable rate mortgages, which have higher rates of loan default due to its shift of interest rate risk to the borrower. Immergluck states, "The answer to not putting too much risk on the back of the government is not to shift it onto (often unsophisticated) homeowners, most of whom have essentially no ability to hedge against such risk. The answer is to have a well-regulated private sector, together with some carefully financed government insurance, deal with interest rate risks.

Dan Immergluck writes extensively on the foreclosure crisis in his publication, Foreclosed: High-risk Lending, Deregulation, and the Undermining of America's Mortgage market.

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College of Design, School of City & Regional Planning

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fixed rate mortgages, foreclosure crisis, home loans, professor dan immergluck
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  • Created By: Mike Alberghini
  • Workflow Status: Published
  • Created On: Jan 21, 2011 - 7:20am
  • Last Updated: Oct 7, 2016 - 10:24pm