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United States of Innumeracy

A number of my posts reference innumeracy. Innumeracy is to numbers what illiteracy is to reading and writing. There are two distinctions, however. First, when reading, one can keep a dictionary handy, and at least work their way through the passage or book. It can't work quite that way with numbers. Second, when I read [...]

Mortgage 101

The debate continues about how the subprime mess occurred. Let me tell you how it would not have occurred: Maximum Loan to value: 80% any higher requires PMI (Private Mortgage Insurance) Debt ratio permitted: 28/36 - This means that one's mortgage payment and property tax cannot exceed 28% of one's gross monthly income and all [...]