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To try to fend off higher rates and other consequences, analysts say, consumers cannot afford to continue lax financial practices. Looking like a bad risk can keep people from obtaining affordable loans on homes or cars and end up with painfully high credit card interest rates.On a different finance-related note, Ken Harney's column today follows the continuing -- yes, it's still continuing -- fight over seller-funded down payment assistance for FHA loans. This is the concept that has allowed buyers to essentially turn a 3 percent down payment loan into a no-money-down mortgage, which is either a great way for first-timers to get their foot in the door (that's what proponents say) or a recipe for price inflation and foreclosure (so saith the U.S. Department of Housing and Urban Development).
As Harney notes:
Where is this all headed? Quite possibly to court again.