Now as to banking rules for home ownership, if you ask me, derivative type products like interest only shouldn’t be allowed, even balloon payments shouldn’t be allowed. Home mortgages should be conventional loans only. But anyone that reads this that knows anything about finance will say rules like that limit the average homeowner/buyer to an onerous set of restrictions that are not fair to them and limit their options. In addition a strict set of criteria should be applied to the ability to pay the mortgage back. If Frank and Dodd were doing their job those rules and restrictions would be in place.