Gov’t to unveil plan to shrink some home loans

[sdrealtor]

That sounds like the HAMP program.

[jpinpb]

Of course some people just can’t help themselves: Hamp applicants tanned. Just makes me think stupid on the way up and on the way down.

[jpinpb]

Of course some people just can’t help themselves: Hamp applicants tanned. Just makes me think stupid on the way up and on the way down.

[jpinpb]

Of course some people just can’t help themselves: Hamp applicants tanned. Just makes me think stupid on the way up and on the way down.

[jpinpb]

Of course some people just can’t help themselves: Hamp applicants tanned. Just makes me think stupid on the way up and on the way down.

[jpinpb]

Of course some people just can’t help themselves: Hamp applicants tanned. Just makes me think stupid on the way up and on the way down.

[Anonymous]

[quote=jpinpb]
For those who can prove they can make the payments, what kind of incentive is a low rate for only 5 years and extending the loan to 40 years. Seems like more temporary band-aids.[/quote]

It’s a hell of an incentive to stay in the house for the next 5 years if the 2% interest rate makes the mortgage payment cheaper than equivalent rent. This isn’t about solving the problem, it’s about kicking the can down the road so that political cronies can get out whole (or maybe even better than ‘whole’ in some cases).

[Anonymous]

[quote=jpinpb]
For those who can prove they can make the payments, what kind of incentive is a low rate for only 5 years and extending the loan to 40 years. Seems like more temporary band-aids.[/quote]

It’s a hell of an incentive to stay in the house for the next 5 years if the 2% interest rate makes the mortgage payment cheaper than equivalent rent. This isn’t about solving the problem, it’s about kicking the can down the road so that political cronies can get out whole (or maybe even better than ‘whole’ in some cases).

[Anonymous]

[quote=jpinpb]
For those who can prove they can make the payments, what kind of incentive is a low rate for only 5 years and extending the loan to 40 years. Seems like more temporary band-aids.[/quote]

It’s a hell of an incentive to stay in the house for the next 5 years if the 2% interest rate makes the mortgage payment cheaper than equivalent rent. This isn’t about solving the problem, it’s about kicking the can down the road so that political cronies can get out whole (or maybe even better than ‘whole’ in some cases).

[Anonymous]

[quote=jpinpb]
For those who can prove they can make the payments, what kind of incentive is a low rate for only 5 years and extending the loan to 40 years. Seems like more temporary band-aids.[/quote]

It’s a hell of an incentive to stay in the house for the next 5 years if the 2% interest rate makes the mortgage payment cheaper than equivalent rent. This isn’t about solving the problem, it’s about kicking the can down the road so that political cronies can get out whole (or maybe even better than ‘whole’ in some cases).

[Anonymous]

[quote=jpinpb]
For those who can prove they can make the payments, what kind of incentive is a low rate for only 5 years and extending the loan to 40 years. Seems like more temporary band-aids.[/quote]

It’s a hell of an incentive to stay in the house for the next 5 years if the 2% interest rate makes the mortgage payment cheaper than equivalent rent. This isn’t about solving the problem, it’s about kicking the can down the road so that political cronies can get out whole (or maybe even better than ‘whole’ in some cases).

[Huckleberry]

Wow, I sure hope those new FHA loans/home valuations are publicly disclosed. Otherwise you have a bunch of people getting principal forgiveness, then selling their homes for more than the new “adjusted” loan amount.

Basically, I see LOTS of people getting new loans. Then selling their “new no longer underwater” home for substantially more than their new loan amount, getting their free taxpayer money, then using those proceeds for a huge down payment on another home.

Essentially, the taxpayer subsidizing the new home purchase for people that were financially imprudent in the first place…

Awesome!

[Huckleberry]

Wow, I sure hope those new FHA loans/home valuations are publicly disclosed. Otherwise you have a bunch of people getting principal forgiveness, then selling their homes for more than the new “adjusted” loan amount.

Basically, I see LOTS of people getting new loans. Then selling their “new no longer underwater” home for substantially more than their new loan amount, getting their free taxpayer money, then using those proceeds for a huge down payment on another home.

Essentially, the taxpayer subsidizing the new home purchase for people that were financially imprudent in the first place…

Awesome!

[Huckleberry]

Wow, I sure hope those new FHA loans/home valuations are publicly disclosed. Otherwise you have a bunch of people getting principal forgiveness, then selling their homes for more than the new “adjusted” loan amount.

Basically, I see LOTS of people getting new loans. Then selling their “new no longer underwater” home for substantially more than their new loan amount, getting their free taxpayer money, then using those proceeds for a huge down payment on another home.

Essentially, the taxpayer subsidizing the new home purchase for people that were financially imprudent in the first place…

Awesome!

[Huckleberry]

Wow, I sure hope those new FHA loans/home valuations are publicly disclosed. Otherwise you have a bunch of people getting principal forgiveness, then selling their homes for more than the new “adjusted” loan amount.

Basically, I see LOTS of people getting new loans. Then selling their “new no longer underwater” home for substantially more than their new loan amount, getting their free taxpayer money, then using those proceeds for a huge down payment on another home.

Essentially, the taxpayer subsidizing the new home purchase for people that were financially imprudent in the first place…

Awesome!

[Author]

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