The Trump administration is drafting an executive order that would allow Americans to tap their 401(k) and 529 accounts to afford down payments on homes. It’s a positive move aimed at one of the defining frustrations of our time: the impossibility of homeownership for millions of working families and young people. But there is more the administration can do to help.
If we really want to help first-time buyers enter the housing market, we must also protect consumers from predatory housing lenders.
I’ve spent decades studying consumer decision-making, and I can tell you that the mortgage market is one of the most treacherous financial environments people navigate.
Most borrowers obtain only one mortgage quote before committing to the largest financial decision of their lives. Buyers who
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