FHA limit increases

[kev374]

Government sends a clear message, spend beyond your means, take on bigger debt, make merry…

http://www.reuters.com/article/bondsNews/idUSN1431598120071214

God Bless America!

How is raising the limit to $417,000 going to help struggling homeowners? Should people who are struggling EVEN be tied to debt worth HALF A MILLION DOLLARS!! Geebus!

[Raybyrnes]

This seems to just make sense that the limits should be the same. Don’t really see the problem here. What they should also do is attach an inflation rider to the limits that should be reset yearly rather than having to review these during crisis situations.

[Raybyrnes]

This seems to just make sense that the limits should be the same. Don’t really see the problem here. What they should also do is attach an inflation rider to the limits that should be reset yearly rather than having to review these during crisis situations.

[Raybyrnes]

This seems to just make sense that the limits should be the same. Don’t really see the problem here. What they should also do is attach an inflation rider to the limits that should be reset yearly rather than having to review these during crisis situations.

[Raybyrnes]

This seems to just make sense that the limits should be the same. Don’t really see the problem here. What they should also do is attach an inflation rider to the limits that should be reset yearly rather than having to review these during crisis situations.

[Raybyrnes]

This seems to just make sense that the limits should be the same. Don’t really see the problem here. What they should also do is attach an inflation rider to the limits that should be reset yearly rather than having to review these during crisis situations.

[kev374]

yeah I see your point, but the point I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.

[kev374]

yeah I see your point, but the point I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.

[kev374]

yeah I see your point, but the point I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.

[kev374]

yeah I see your point, but the point I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.

[kev374]

yeah I see your point, but the point I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.

[Raybyrnes]

kev374

“I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.”

I can appreciate that. I can also see how many will argue the only solutiuon for a borrower in this situationis to take the foreclosure and walk away.

But when you are in that situation and you are looking at a mortgage payment of 2000 going to 3000 and the government steps in aand says “hold on we are going to help you.” That payment is only going to adjust from 2000 to 2300 and it is going to fixed for the life of the loan even though you are a poor saver and have crap credit. I can see how people in that situation would look favorably on this.

I don’t like it because it is an illusion of wealth. People seem to be OK in that house but their balance sheets clearly demonstrate they are in over their head.

Meanwhile I am stuck waiting the insanity out getting peppered by my friends and parents for not buying.

[Raybyrnes]

kev374

“I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.”

I can appreciate that. I can also see how many will argue the only solutiuon for a borrower in this situationis to take the foreclosure and walk away.

But when you are in that situation and you are looking at a mortgage payment of 2000 going to 3000 and the government steps in aand says “hold on we are going to help you.” That payment is only going to adjust from 2000 to 2300 and it is going to fixed for the life of the loan even though you are a poor saver and have crap credit. I can see how people in that situation would look favorably on this.

I don’t like it because it is an illusion of wealth. People seem to be OK in that house but their balance sheets clearly demonstrate they are in over their head.

Meanwhile I am stuck waiting the insanity out getting peppered by my friends and parents for not buying.

[Raybyrnes]

kev374

“I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.”

I can appreciate that. I can also see how many will argue the only solutiuon for a borrower in this situationis to take the foreclosure and walk away.

But when you are in that situation and you are looking at a mortgage payment of 2000 going to 3000 and the government steps in aand says “hold on we are going to help you.” That payment is only going to adjust from 2000 to 2300 and it is going to fixed for the life of the loan even though you are a poor saver and have crap credit. I can see how people in that situation would look favorably on this.

I don’t like it because it is an illusion of wealth. People seem to be OK in that house but their balance sheets clearly demonstrate they are in over their head.

Meanwhile I am stuck waiting the insanity out getting peppered by my friends and parents for not buying.

[Raybyrnes]

kev374

“I was trying to show was the ridiculous statement in the article that raising the limit is helping struggling subprime borrowers.”

I can appreciate that. I can also see how many will argue the only solutiuon for a borrower in this situationis to take the foreclosure and walk away.

But when you are in that situation and you are looking at a mortgage payment of 2000 going to 3000 and the government steps in aand says “hold on we are going to help you.” That payment is only going to adjust from 2000 to 2300 and it is going to fixed for the life of the loan even though you are a poor saver and have crap credit. I can see how people in that situation would look favorably on this.

I don’t like it because it is an illusion of wealth. People seem to be OK in that house but their balance sheets clearly demonstrate they are in over their head.

Meanwhile I am stuck waiting the insanity out getting peppered by my friends and parents for not buying.

[Author]

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