WOW!!! The biggest news in housing market and nobody on ET notices...
- Thread starter scriabinop23
- Start date
i've dealt with poor-credit people and most of them are deadbeats and scumbags. you cannot trust them.
this bill tries to help these scumbags and there will be fraud as a result. aren't these the same people who lied about how much income they make, and now we're gonna trust them yet again?
this ranks as one of the dumbest bills ever.
and i love bush's response.. "i don't like this bill but i'm gonna sign it anyway". wtf, you spineless piece of shit!
this bill tries to help these scumbags and there will be fraud as a result. aren't these the same people who lied about how much income they make, and now we're gonna trust them yet again?
this ranks as one of the dumbest bills ever.
and i love bush's response.. "i don't like this bill but i'm gonna sign it anyway". wtf, you spineless piece of shit!
There has to be some form of physcological purpose to the bill e.g. Joe Public thinks that the housing crisis is now over as Uncle Sam is fixing it.
Because he won't qualify.
You'll have to prove hardship i.e. this is what I earn,these were my original repayments,here are my current repayments,which I simply can't afford.
If he just stops making payments even though he can afford them he'll just lose the house,credit score and any deposit but he won't be saved just because he overpaid and is unhappy about it.
I wonder how many of the defaults fit this profile. If the sucker who overpaid is $300,000 in the hole, does he care about his credit? I doubt it. I think what remains to be seen is how many people a) are going to qualify, and b) are not so far gone that they can make even the new loan work. Are there any numbers for that available?
Actually this was all over the news last week - where were you?
$300B to basically stabilize the entire housing market and no one here takes notice.
Uh no
It means no one else is forced out of their subprime loans.
Wow, completely wrong.
In addition, they get to cut their monthly mortgage expense in half.
Also wrong
Maybe you should have actually read up on the bill before creating a thread declaring it the savor for the housing market?
Here's a couple of hints:
Estimates are that the FHA bill will help 400,000 homeowners, less than 10% of the predicted foreclosures.
Lenders have to agree to the program for borrowers to take advantage of it.
And of course as already pointed it, it wont even take affect until Oct....
I don't need to read this bill to know:
That it will not do what the public thinks it will do.
That there are many convoluted strings involved.
That the rest of us that have acted responsibly will pay the bill.
That the shysters and crooks and irresponsible as usual will profit.
That there is no doubt a hidden agenda.
That there are many people on the inside with no direct or indirect connection to the said purpose of this bill will profit greatly.
And lastly.That this bill has been loaded with a massive amount of earmarks with no remote connection with the bills purported purpose.
After all Paulson said there was no problem 5 days before it was presented to the house for vote. They sure can work fast when the are confronted with a "real" problem.
That it will not do what the public thinks it will do.
That there are many convoluted strings involved.
That the rest of us that have acted responsibly will pay the bill.
That the shysters and crooks and irresponsible as usual will profit.
That there is no doubt a hidden agenda.
That there are many people on the inside with no direct or indirect connection to the said purpose of this bill will profit greatly.
And lastly.That this bill has been loaded with a massive amount of earmarks with no remote connection with the bills purported purpose.
After all Paulson said there was no problem 5 days before it was presented to the house for vote. They sure can work fast when the are confronted with a "real" problem.
This bill won't do shit. Drop in the bucket. The Gov needs to leave the RE/mortgage markets alone! Prices and defaults have to move to where they automatically stabilize the problem. Otherwise you just drag out the problem with propped prices and artificial loans. These stupid tax rebates don't do anything either. Just costs the Gov a bundle for ONE month of stimulus. Incredibly idiotic. Its all just politics actually, or would never happen.