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But Islam forbids interest, making mortgages difficult.
In September 2011, banks were making mortgages with an interest rate of 4.1 percent.
"We think about one thing: making mortgages at the lowest cost possible, without taking risk".
Banks also view established buildings more favorably, making mortgages easier to come by.
They undermine the sanctity of contracts, he said, while making mortgages harder to gain for everyone.
For starters, banks have grown accustomed to earning fees for making mortgages that they sell to Fannie and Freddie.
Similar(31)
There's Marciela Perez, who fell ill with cancer, lacked health insurance and stopped making mortgage payments.
With Mr. Santiago back at work, they were able to resume making mortgage payments.
* You have to feed real estate -- by making mortgage payments and paying taxes, maintenance and utilities.
Now they have little economic incentive to keep making mortgage payments.
–Always have a time horizon when making mortgage decisions.
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