The “End New Mortgage Lending In Nevada Act”?

Nevada Assembly Speaker Barbara Buckley today unveiled a plan that could curtail new mortgage lending in Nevada for many years to come – by empowering people who don’t pay their bills to cheat the people from whom they’ve borrowed out of their money. Read about it here.

It’s already tough for a working person to get a mortgage, with some lenders requiring 30% down. This doesn’t seem like a government action that will reassure lenders their money will be safe, and may induce them to increase the down payment requirement.

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