Don't think this is what WE had in mind...

[timmgirvan]

http://www.nypost.com/seven/02192009...fix_155901.htm

apparently, this plan doesn't cover anyone but those who have govt-backed mortgages. Private(commercial)or bank mortgaged loans are not helped much,if at all. So, if you wanted a home mortgage without Federal restraints
you're pretty much left to your own devices for a good solution.

[The Indomitable DrugS]

Between this pile of crap housing plan and this media handjob of wanting to send more troops to Afghanistan .... Obama's starting to lose me a bit here.

Oh yeah, plus I hated some of the cabinet selections.

But yeah, at least he's not Bush. And at least his VP isn't Palin.

[GBBob]

Originally Posted by The Indomitable DrugS

Between this pile of crap housing plan and this media handjob of wanting to send more troops to Afghanistan .... Obama's starting to lose me a bit here.

Oh yeah, plus I hated many of cabinet selections.

But yeah, at least he's not Bush. And at least his VP isn't Palin.

DrugS baby..It's the NY Post..that's like picking up the Enquirer to read about the Stock Market

[The Indomitable DrugS]

I only read them for the racist cartoons.

If I want wall street info ... there's always CNBC ... and speaking of which ... Brother Santelli made a little sense earlier this morning...

http://www.youtube.com/watch?v=bEZB4taSEoA

[SniperSB23]

I'm really upset at myself for buying a house I could afford. Had I just bought beyond my means I'd be golden right now. As it is, I'm still going to find out if there is anyway I can benefit by it.

Stupid question time, how do I know if my loan is owned or guaranteed by Fannie Mae or Freddie Mac?

[timmgirvan]

Originally Posted by SniperSB23

I'm really upset at myself for buying a house I could afford. Had I just bought beyond my means I'd be golden right now. As it is, I'm still going to find out if there is anyway I can benefit by it.

Stupid question time, how do I know if my loan is owned or guaranteed by Fannie Mae or Freddie Mac?

It should be in escrow papers.....who's the lender?

[SniperSB23]

Originally Posted by timmgirvan

It should be in escrow papers.....who's the lender?

Both were originally with HSBC, one was sold to Wells Fargo.

[Danzig]

Originally Posted by SniperSB23

I'm really upset at myself for buying a house I could afford. Had I just bought beyond my means I'd be golden right now. As it is, I'm still going to find out if there is anyway I can benefit by it.

Stupid question time, how do I know if my loan is owned or guaranteed by Fannie Mae or Freddie Mac?

i guess that would fit under the 'honesty is its own reward' umbrella.

[gales0678]

Originally Posted by GBBob

DrugS baby..It's the NY Post..that's like picking up the Enquirer to read about the Stock Market

yeah but Ray Kerrison is great for the horse articles on sunday's , he did an article on handicappers across the country (btw mentioned) and i'm sure he would do an article about steve if someone got in touch with him about the show and the site

they actually have a guy in the business section who is pretty good , John Credule , they get guest columns from Wilbur Ross

[Danzig]

Originally Posted by timmgirvan

http://www.nypost.com/seven/02192009...fix_155901.htm

apparently, this plan doesn't cover anyone but those who have govt-backed mortgages. Private(commercial)or bank mortgaged loans are not helped much,if at all. So, if you wanted a home mortgage without Federal restraints
you're pretty much left to your own devices for a good solution.

the part i can't stand- incentives to get bankers to rework loans about to default.. the government (us) will make up part of the difference between the old subprime payments and the new, lower payments the homeowners would have. so, we bail out bad loans, to people who can't afford the loans. then we pay part of their payment-on a house that's lost value.
i'd love to know how this plan will encourage banks not to make more bad loans in future. if they jack up the ARM too much, and the homeowner will default, rework the loan and stick the govt (us!) with the missing money...

Banks made bad loans.
And banks also made scandalous loans.
The way they hid the rates from many people
was obscene. I think the loan officers were ex-
car dealers.

[Sightseek]

Originally Posted by pgardn

Banks made bad loans.
And banks also made scandalous loans.
The way they hid the rates from many people
was obscene. I think the loan officers were ex-
car dealers.

The banks are not the only ones to blame here. People need to understand what they can afford and they are not entitled to anything. When I was working as a paralegal in real estate (I'm now in corporate bankruptcy...makes you feel all warm and fuzzy about the economy doesn't it?) I processed significantly more files that had no money down than files that had money down. It's absurd how many people stressed the $1,200 they had to bring for closing costs yet they thought buying a house was the right idea for them?

Originally Posted by Sightseek

The banks are not the only ones to blame here. People need to understand what they can afford and they are not entitled to anything. When I was working as a paralegal in real estate (I'm now in corporate bankruptcy...makes you feel all warm and fuzzy about the economy doesn't it?) I processed significantly more files that had no money down than files that had money down. It's absurd how many people stressed the $1,200 they had to bring for closing costs yet they thought buying a house was the right idea for them?

No one said they are.

But either are all of the people that got mortages through Banks.
Some Banks and Mortage companies clearly used deceptive practices.
And you clearly know this if you have been following the debacle.

BTW. Why did you process loans when it was clear people
had reservations about the closing costs (ie would have trouble
making the payments)?
There have been an abundance of loan officers that quit or
blew the whistle on their employer when they noticed the type
of loans going down.

Greedy folks living beyond their means on both sides of this story.

[Sightseek]

Originally Posted by pgardn

No one said they are.

But either are all of the people that got mortages through Banks.
Some Banks and Mortage companies clearly used deceptive practices.
And you clearly know this if you have been following the debacle.

BTW. Why did you process loans when it was clear people
had reservations about the closing costs (ie would have trouble
making the payments)?
There have been an abundance of loan officers that quit or
blew the whistle on their employer when they noticed the type
of loans going down.

Greedy folks living beyond their means on both sides of this story.

I was not a loan processor, I was a paralegal.

Losing good paying jobs is the problem....

But it's not being talked about. What the powers that be are doing is conditioning americans to accept pay cuts AND control their budgets in an economy where inflation is going to ass rape them into oblivion.

With this socialist assholeface in office we're heading down a path of s.hit. F.uck Lyndon Johnson in the ass. And F.uck George Bush in the ass for being a dumbs.hit and enabling these f.ucktards to seize power again. And f.uck minorities and the poor who can work but choose instead to take advantage of the system.

[Sightseek]

Originally Posted by Coach Pants

Losing good paying jobs is the problem....

But it's not being talked about. What the powers that be are doing is conditioning americans to accept pay cuts AND control their budgets in an economy where inflation is going to ass rape them into oblivion.

With this socialist assholeface in office we're heading down a path of s.hit. F.uck Lyndon Johnson in the ass. And F.uck George Bush in the ass for being a dumbs.hit and enabling these f.ucktards to seize power again. And f.uck minorities and the poor who can work but choose instead to take advantage of the system.

a little too much cussing for my taste, but

Originally Posted by Coach Pants

Losing good paying jobs is the problem....

But it's not being talked about. What the powers that be are doing is conditioning americans to accept pay cuts AND control their budgets in an economy where inflation is going to ass rape them into oblivion.

With this socialist assholeface in office we're heading down a path of s.hit. F.uck Lyndon Johnson in the ass. And F.uck George Bush in the ass for being a dumbs.hit and enabling these f.ucktards to seize power again. And f.uck minorities and the poor who can work but choose instead to take advantage of the system.

Good paying jobs like the CEO's who ran with the money?
Fck them in the ass? You cant fck them in the ass. They
ran off with their ass or are hiding their ass behind their lawyers.


What about fck the greedy bastards that made these godawful
financial instruments that contributed to the mess? What about
fck Madoaf in the ass? A significant number of rich greedy people cost this country a heck of a lot more than the poor people sitting on their collective butts.

Good to see Pillow back in the mood.
I was worried.

[Honu]

It seems to me that alot of people are just really stupid , whatever happen if it sounds to good to be true it is. That is pretty much what happened with the housing crisis , people with their heads up their arse who couldnt afford a house because they didnt make enough money and they knew it , are now all of a sudden home owners who refinanced their homes with only 1 to 2 years of ownership and instead of putting it back into their house they went and bought big screen tv's and new cars ( that they cant pay for either) refurnished their homes and so on.
So now because they are dumb shits , I get to help them pay for their house when I dont even own my own house , what a crapper.
I should have just went and lived beyond my means like all the other numbsculls and I could have someone paying for my house now too.

Originally Posted by Honu

It seems to me that alot of people are just really stupid , whatever happen if it sounds to good to be true it is. That is pretty much what happened with the housing crisis , people with their heads up their arse who couldnt afford a house because they didnt make enough money and they knew it , are now all of a sudden home owners who refinanced their homes with only 1 to 2 years of ownership and instead of putting it back into their house they went and bought big screen tv's and new cars ( that they cant pay for either) refurnished their homes and so on.
So now because they are dumb shits , I get to help them pay for their house when I dont even own my own house , what a crapper.
I should have just went and lived beyond my means like all the other numbsculls and I could have someone paying for my house now too.

Yes.
And you are also gonna bail out the CEO's from investment
banks and car companies who also not only made stupid decisions,
but in some cases made criminal decisions. You will pay for their
bonus next year. I hope you enjoy that while working your rear off.
Its more than the poor dumb sh its.

[Honu]

Originally Posted by pgardn

Yes.
And you are also gonna bail out the CEO's from investment
banks and car companies who also not only made stupid decisions,
but in some cases made criminal decisions. You will pay for their
bonus next year. I hope you enjoy that while working your rear off.
Its more than the poor dumb sh its.

Oh I concur totally , my feeling is the ass holes in charge of the lending and so forth should be prosecuted for creating this mess.
My neighbor got her real estate liscence while the boom was going on and tried to get me to buy and I kept telling her I dont have money for a down payment , she said oh dont worry they will loan you money without a down , Im like how the hell can they do that , just didnt seem right to me. She badgered me for what seemed like weeks telling me how she "could get me in" all the while Im thinking this is just not right . So I will give equal credit to the people who sold the loans and the one's who bought into them , they are all knuckleheads.