A new regulation may put homeowners in a bind

July 5, 2011

Produced by Eight Forty-Eight

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A new regulation may require homeowners to put 20 percent down when purching a new home

Federal regulatory agencies are asking Americans to put more money on the table when they get a mortgage. The idea is to stop homeowners from walking away if their loan goes sour. But some say requiring a 20 percent down payment will keep many people from realizing the American Dream—and further slow economic recovery. Dennis Rodkin writes the "Deal Estate" column for Chicago magazine. He joined Eight Forty-Eight to discuss how the measure may hit Chicago especially hard.

Music Button: Empresarios "Pensamiento", from the CD Sabor Tropical (Fort Knox)