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  • March 26, 2008 at 6:35 PM #177067
    Deal Hunter
    Participant

    We are in the minority here. Even though we see the many pitfalls of such a suggestion, it is something Hilary can pull off with Greenspan to garner the vote of SO MANY people facing homelessness due to the housing crisis.

    It would be a living nightmare, but don’t be surprised if Greenspan/Clinton bubble machine returns, this time with massive popular appeal.

    March 26, 2008 at 11:07 PM #177151
    SD Realtor
    Participant

    Doug my read is something like what is currently being proposed today only on a larger scale…

    That is the FHA will bail out distressed homeowners by purchasing the existing mortgage from a lender. The purchase will be made (HOPEFULLY) at a presently appraised value. The lender writes down the difference. The homeowner gets a new loan at a low rate pretty much directly from the FHA.

    So no there is no new beauracracy, just the existing one that becomes responsible for oh… maybe 1-2 trillion worth of mortgages. So basically that is the plan. In short it is a very close step to nationalizing housing.

    Who determines if the person is capable of repaying the loan? Why the FHA? Who backs the FHA

    Your

    Tax

    Dollars

    March 26, 2008 at 11:07 PM #177160
    SD Realtor
    Participant

    Doug my read is something like what is currently being proposed today only on a larger scale…

    That is the FHA will bail out distressed homeowners by purchasing the existing mortgage from a lender. The purchase will be made (HOPEFULLY) at a presently appraised value. The lender writes down the difference. The homeowner gets a new loan at a low rate pretty much directly from the FHA.

    So no there is no new beauracracy, just the existing one that becomes responsible for oh… maybe 1-2 trillion worth of mortgages. So basically that is the plan. In short it is a very close step to nationalizing housing.

    Who determines if the person is capable of repaying the loan? Why the FHA? Who backs the FHA

    Your

    Tax

    Dollars

    March 26, 2008 at 11:07 PM #177163
    SD Realtor
    Participant

    Doug my read is something like what is currently being proposed today only on a larger scale…

    That is the FHA will bail out distressed homeowners by purchasing the existing mortgage from a lender. The purchase will be made (HOPEFULLY) at a presently appraised value. The lender writes down the difference. The homeowner gets a new loan at a low rate pretty much directly from the FHA.

    So no there is no new beauracracy, just the existing one that becomes responsible for oh… maybe 1-2 trillion worth of mortgages. So basically that is the plan. In short it is a very close step to nationalizing housing.

    Who determines if the person is capable of repaying the loan? Why the FHA? Who backs the FHA

    Your

    Tax

    Dollars

    March 26, 2008 at 11:07 PM #176799
    SD Realtor
    Participant

    Doug my read is something like what is currently being proposed today only on a larger scale…

    That is the FHA will bail out distressed homeowners by purchasing the existing mortgage from a lender. The purchase will be made (HOPEFULLY) at a presently appraised value. The lender writes down the difference. The homeowner gets a new loan at a low rate pretty much directly from the FHA.

    So no there is no new beauracracy, just the existing one that becomes responsible for oh… maybe 1-2 trillion worth of mortgages. So basically that is the plan. In short it is a very close step to nationalizing housing.

    Who determines if the person is capable of repaying the loan? Why the FHA? Who backs the FHA

    Your

    Tax

    Dollars

    March 26, 2008 at 11:07 PM #177252
    SD Realtor
    Participant

    Doug my read is something like what is currently being proposed today only on a larger scale…

    That is the FHA will bail out distressed homeowners by purchasing the existing mortgage from a lender. The purchase will be made (HOPEFULLY) at a presently appraised value. The lender writes down the difference. The homeowner gets a new loan at a low rate pretty much directly from the FHA.

    So no there is no new beauracracy, just the existing one that becomes responsible for oh… maybe 1-2 trillion worth of mortgages. So basically that is the plan. In short it is a very close step to nationalizing housing.

    Who determines if the person is capable of repaying the loan? Why the FHA? Who backs the FHA

    Your

    Tax

    Dollars

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