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Need a home loan???

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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/24/2012 at 14:14
Kickboxer View Drop Down
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 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.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/24/2012 at 16:10
Son of Ed View Drop Down
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Chris Dodd is an imbecile. 
 
 
 
 
 
" Three generations of [ Democrats ]  is enough! " 
 
 
 
 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/24/2012 at 21:03
billyburl2 View Drop Down
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Originally posted by Son of Ed Son of Ed wrote:

Chris Dodd is an imbecile. 
 
AMEN!
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/25/2012 at 08:49
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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.


Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/25/2012 at 15:41
shooter07 View Drop Down
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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.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/26/2012 at 07:17
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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. 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/26/2012 at 07:29
SVT_Tactical View Drop Down
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Chief Sackscratch

Joined: December/17/2009
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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.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/26/2012 at 08:43
Alan Robertson View Drop Down
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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.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: March/27/2012 at 12:50
BeltFed View Drop Down
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Liberals are only trying to put evil landlords and selfish responsible lenders out of buisnessBandito
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