FHA Mortgage Insurance Premiums may triple

[blahblahblah]

[quote=walterwhite]heh heh….i suspect you’re right. but i’ll be drinking the cheap stuff — $500 a 6 pack. saving up for my downpayment. any day now…[/quote]

Hahahaha. In the future, King Cobra malt liquor will be $100 a can.

BTW if you haven’t seen “Idiocracy” it deals with this in detail.

[scaredyclassic]

this seems an odd situation. are all the people bidding on houses who are trying to get them fha going to back out (or even be able to back out) if the rule changes before their loans are finalized?

contracts generally have an interest rate contigency but not a fee contingency, right? fha loan limits are pretty high around murrieta temecula, cover some pretty fancy housing, wondering if this will clear out some of the competition for the mid-level housing…

[scaredyclassic]

this seems an odd situation. are all the people bidding on houses who are trying to get them fha going to back out (or even be able to back out) if the rule changes before their loans are finalized?

contracts generally have an interest rate contigency but not a fee contingency, right? fha loan limits are pretty high around murrieta temecula, cover some pretty fancy housing, wondering if this will clear out some of the competition for the mid-level housing…

[scaredyclassic]

this seems an odd situation. are all the people bidding on houses who are trying to get them fha going to back out (or even be able to back out) if the rule changes before their loans are finalized?

contracts generally have an interest rate contigency but not a fee contingency, right? fha loan limits are pretty high around murrieta temecula, cover some pretty fancy housing, wondering if this will clear out some of the competition for the mid-level housing…

[scaredyclassic]

this seems an odd situation. are all the people bidding on houses who are trying to get them fha going to back out (or even be able to back out) if the rule changes before their loans are finalized?

contracts generally have an interest rate contigency but not a fee contingency, right? fha loan limits are pretty high around murrieta temecula, cover some pretty fancy housing, wondering if this will clear out some of the competition for the mid-level housing…

[scaredyclassic]

this seems an odd situation. are all the people bidding on houses who are trying to get them fha going to back out (or even be able to back out) if the rule changes before their loans are finalized?

contracts generally have an interest rate contigency but not a fee contingency, right? fha loan limits are pretty high around murrieta temecula, cover some pretty fancy housing, wondering if this will clear out some of the competition for the mid-level housing…

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

[andymajumder]

I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.

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