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Need a home loan???

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Kickboxer View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kickboxer Quote  Post ReplyReply Direct Link To This Post Topic: Need a home loan???
    Posted: March/24/2012 at 14:14
 Any question why this mess is not getting any better?
>
> In a bid to stem taxpayer losses for bad loans guaranteed by federal housing
agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that
borrowers be required to make a 5% down-payment in order to qualify.

>
> His proposal was rejected 57-42 on a party-line vote because, as Senator Chris
Dodd (D-Conn) explained, "Passage of such a requirement would restrict home
ownership to only those who can afford it."

>
> Does this explain liberals to you?

> I can't add anything to this.
Opinion,untempered by fact,is ignorance.

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Son of Ed View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Son of Ed Quote  Post ReplyReply Direct Link To This Post Posted: March/24/2012 at 16:10
Chris Dodd is an imbecile. 
 
 
 
 
 
" Three generations of [ Democrats ]  is enough! " 
 
 
 
 
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billyburl2 View Drop Down
Optics Master Extraordinaire
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Post Options Post Options   Thanks (0) Thanks(0)   Quote billyburl2 Quote  Post ReplyReply Direct Link To This Post Posted: March/24/2012 at 21:03
Originally posted by Son of Ed Son of Ed wrote:

Chris Dodd is an imbecile. 
 
AMEN!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bugsNbows Quote  Post ReplyReply Direct Link To This Post Posted: March/25/2012 at 08:49
Originally posted by Kickboxer Kickboxer wrote:

 Any question why this mess is not getting any better?
>
> In a bid to stem taxpayer losses for bad loans guaranteed by federal housing
agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that
borrowers be required to make a 5% down-payment in order to qualify.

>
> His proposal was rejected 57-42 on a party-line vote because, as Senator Chris
Dodd (D-Conn) explained, "Passage of such a requirement would restrict home
ownership to only those who can afford it."

>
> Does this explain liberals to you?

> I can't add anything to this.


Duh, that's the point. I distinctly remember my first home purchase back in the 70's. It required 20% down...no discussion. Times have changed...for the worse I might add.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote shooter07 Quote  Post ReplyReply Direct Link To This Post Posted: March/25/2012 at 15:41
I have no problem with this bill...unless it affects the VA loan process for veterans.
 
If you CAN'T afford a house, then you shouldn't qualifty. End of Story.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bigdaddy0381 Quote  Post ReplyReply Direct Link To This Post Posted: March/26/2012 at 07:17
If you have a loan with Fanny Mae and Freddy Mac you can refinance and get  a 1% rate and no closing cost. That is if your upside down in your load or not. 
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SVT_Tactical View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SVT_Tactical Quote  Post ReplyReply Direct Link To This Post Posted: March/26/2012 at 07:29
Where I work we don't have any of these issues that others are having,  Yes we have foreclosures but no more than we had 10 years ago.  We are still following the same practices we always have.  We've been doing it right for a long time and now we aren't in a jam like other lenders.  Federal regulators have taken our guidelines and made them into regulations for others to follow.
"Most folks are about as happy as they make their minds up to be" - Abraham Lincoln
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Alan Robertson View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Alan Robertson Quote  Post ReplyReply Direct Link To This Post Posted: March/26/2012 at 08:43
Dodd's words/actions certainly helped get us into this mess.  In a perfect world, he- as well as legions of others fallible in this whole mess- would be busting rocks with big hammers.
"Garg'n uair dhuisgear"
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BeltFed Quote  Post ReplyReply Direct Link To This Post Posted: March/27/2012 at 12:50
Liberals are only trying to put evil landlords and selfish responsible lenders out of buisnessBandito
Life's concerns should be about the 120lb pack your trying to get to the top of the mountain, and not the rock in your boot.
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