freedomCM_IHB
New member
wow, you might actually be someone who will benefit from the new program!
you might be just enough underwater, and still have the means.
you might be just enough underwater, and still have the means.
What do you think about Obamas Plan to stop foreclosures?
- Thread starter theBigD_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
When the money was reshuffled:
1. Financial crisis = fear of passing money though or lending to people or institutions that might be insolvent
2. The recession = people who actually needed the money (which is why they bothered to save it), now realize its gone and cut back spending. It was prespent during the boom by the spendthrifts the money shufflers sent it to and collected a commision on. The spendthrifts also can no longer get free shuffled money, and so their consumption is cut back as well.
The whole shebang is caused by the money shufflers, who figured out how to shuffle the money from savers A to spenders B and collect a commision on the money they shuffled.
This is for loans already guaranteed by Fannie and Freddie. The government is already on the hook for an undercollateralized loan and can't get off, so they might as well make use of the current interest rates. It would be questionable to offer this for loans not already guaranteed, but they're not doing that.
No, it won't make the loans risky. Every other kind of securitized loan can already be crammed down, and first-lien owner-occupied residential mortgage loans could be crammed down until 1993. Creating the special cramdown exemption on first-lien owner-occupied residential mortgage loans had no effect on loans rates or availability and restoring the traditional system won't either.
There has to be an island for sale somewhere.
Here is the HOW and WHY.
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stepping_up_IHB
New member
actually, we're not underwater as of the appraisal, but lacked the equity to get the refi down to 95%. The thing about the appraisal though is that I don't think if it were for sale at that amount that it would get any offers at asking. I think appraisals are different from what price would you have to sell at to get it sold TODAY. Based on the average equity burn, we'll be underwater by April.
Anonymous_IHB
New member
No_Such_Reality said:
When the money was reshuffled:
1. Financial crisis = fear of passing money though or lending to people or institutions that might be insolvent
2. The recession = people who actually needed the money (which is why they bothered to save it), now realize its gone and cut back spending. It was prespent during the boom by the spendthrifts the money shufflers sent it to and collected a commision on. The spendthrifts also can no longer get free shuffled money, and so their consumption is cut back as well.
The whole shebang is caused by the money shufflers, who figured out how to shuffle the money from savers A to spenders B and collect a commision on the money they shuffled.
FairEconomist_IHB
New member
trrenter said:
This is for loans already guaranteed by Fannie and Freddie. The government is already on the hook for an undercollateralized loan and can't get off, so they might as well make use of the current interest rates. It would be questionable to offer this for loans not already guaranteed, but they're not doing that.
trrenter said:
No, it won't make the loans risky. Every other kind of securitized loan can already be crammed down, and first-lien owner-occupied residential mortgage loans could be crammed down until 1993. Creating the special cramdown exemption on first-lien owner-occupied residential mortgage loans had no effect on loans rates or availability and restoring the traditional system won't either.
O
Oscar_IHB
Guest
WINEX said:
There has to be an island for sale somewhere.
O
Oscar_IHB
Guest
awgee, you obviously don't appreciate the finer points of the Obama Doctrine. He is simply offering your children a chance to invest in their past, rather than having you invest in their future in these, the worst economic times since the Great Depression.awgee said:
no_vaseline_IHB
New member
And at the end of the day, it's all whistling past the graveyard isn't it?
The hows and whys aren't important. What is important is it's a sad day to be an American.
The hows and whys aren't important. What is important is it's a sad day to be an American.
usctrojanman29_IHB
New member
I was talking to my dad last night about what's going on with the economy. Mind you, my dad was born and raised in Poland and left with my mom and I back in 1980 so that they could have a better life. He mentioned to me that a lot of the things that the US gov't is doing giving him cold chills because it reminds him of what the communist Polish gov't used to do to prop things up.
bltserv_IHB
New member
WINEX said:
Here is the HOW and WHY.
(embedded video no longer available)
O
Oscar_IHB
Guest
bltserv, let's (for the sake of argument) say that Bush was responsible for EVERY part of the economic problem we face. That does not abrogate Obama's responsibility for the actions taken and bills signed and plans announced since he took office.
Meh, nevermind, you are constitutionally incapable of accepting any other view than your own.
Meh, nevermind, you are constitutionally incapable of accepting any other view than your own.