Gov’t to unveil plan to shrink some home loans

[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!

[scaredyclassic]

won’t the amount be public when people get the property tax adjusted down to the newly assessed value?

[scaredyclassic]

won’t the amount be public when people get the property tax adjusted down to the newly assessed value?

[scaredyclassic]

won’t the amount be public when people get the property tax adjusted down to the newly assessed value?

[scaredyclassic]

won’t the amount be public when people get the property tax adjusted down to the newly assessed value?

[scaredyclassic]

won’t the amount be public when people get the property tax adjusted down to the newly assessed value?

[jpinpb]

Are we sure there is not a clause that they can’t sell for x number of years or if they sell at a profit they don’t have to pay back some of the money or some other crazy terms and conditions?

[jpinpb]

Are we sure there is not a clause that they can’t sell for x number of years or if they sell at a profit they don’t have to pay back some of the money or some other crazy terms and conditions?

[jpinpb]

Are we sure there is not a clause that they can’t sell for x number of years or if they sell at a profit they don’t have to pay back some of the money or some other crazy terms and conditions?

[jpinpb]

Are we sure there is not a clause that they can’t sell for x number of years or if they sell at a profit they don’t have to pay back some of the money or some other crazy terms and conditions?

[jpinpb]

Are we sure there is not a clause that they can’t sell for x number of years or if they sell at a profit they don’t have to pay back some of the money or some other crazy terms and conditions?

[Anonymous]

Huckleberry- if they got thier loan reduced it certainly would not be for less that market value so how would they have enough for another home loan- also their credit would be shot so which lender gave them another loan with bad credit?

[Anonymous]

Huckleberry- if they got thier loan reduced it certainly would not be for less that market value so how would they have enough for another home loan- also their credit would be shot so which lender gave them another loan with bad credit?

[Anonymous]

Huckleberry- if they got thier loan reduced it certainly would not be for less that market value so how would they have enough for another home loan- also their credit would be shot so which lender gave them another loan with bad credit?

[Anonymous]

Huckleberry- if they got thier loan reduced it certainly would not be for less that market value so how would they have enough for another home loan- also their credit would be shot so which lender gave them another loan with bad credit?

[Author]

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