Low Mortgage Interest Rates For Everyone!!!: U.S. May Back Refinance Plan for Mortgages

[pemeliza]

Although I am strongly opposed to principle forgiveness, I am in favor of government backed financing for homeowners at today’s interest rates on “existing principles” as long as the borrower can afford the payment under reasonable income ratio assumptions (even if the borrower is underwater).

If the homeowner cannot afford the house at 4% then the solution IMHO is foreclosure.

[Coronita]

[quote=briansd1][quote=flu]This must suck donkey butt for folks who were responsible savers trying to save up for a home all these years. It would be ironic if these low interests rates were available only to people upside down.[/quote]

Don’t be bitter. Bitterness causes ulcers and activate enzymes that can cause cancer.

But seriously, monetary policy (low interest rates) is trickle down economics. The liquidity benefits mostly the banks, corporations and well-to-do individuals who need it least.

We need other policies to increase cash flow for those who are suffering most.

As sdr said, reducing mortgage interest rates at the bottom end will unleash billions of dollars to help the eco

If a homeowners had been faithfully paying his mortgage at 7% (can’t refinance for some reason). Why not reduce the rate to 4%?

The banks and corporations got their bailouts… now,let’s help the people who need it most. It’s about helping the economy as a whole, right now.[/quote]

Brian, good portion of ulcers are caused by bacteria, not stress as you limited understanding of how ulcers work has led you to believe. Some Dr. won a Nobel prize with that discovery…. So I’d recommend you stick to topics you know more about and avoid discussing health, women, and sex.

Brian, I don’t care because I already bought. I just think it sucks for people on the sideline. Also, as might also suck if you are a landlord.

[Coronita]

[quote=briansd1][quote=flu]This must suck donkey butt for folks who were responsible savers trying to save up for a home all these years. It would be ironic if these low interests rates were available only to people upside down.[/quote]

Don’t be bitter. Bitterness causes ulcers and activate enzymes that can cause cancer.

But seriously, monetary policy (low interest rates) is trickle down economics. The liquidity benefits mostly the banks, corporations and well-to-do individuals who need it least.

We need other policies to increase cash flow for those who are suffering most.

As sdr said, reducing mortgage interest rates at the bottom end will unleash billions of dollars to help the eco

If a homeowners had been faithfully paying his mortgage at 7% (can’t refinance for some reason). Why not reduce the rate to 4%?

The banks and corporations got their bailouts… now,let’s help the people who need it most. It’s about helping the economy as a whole, right now.[/quote]

Brian, good portion of ulcers are caused by bacteria, not stress as you limited understanding of how ulcers work has led you to believe. Some Dr. won a Nobel prize with that discovery…. So I’d recommend you stick to topics you know more about and avoid discussing health, women, and sex.

Brian, I don’t care because I already bought. I just think it sucks for people on the sideline. Also, as might also suck if you are a landlord.

[Coronita]

[quote=briansd1][quote=flu]This must suck donkey butt for folks who were responsible savers trying to save up for a home all these years. It would be ironic if these low interests rates were available only to people upside down.[/quote]

Don’t be bitter. Bitterness causes ulcers and activate enzymes that can cause cancer.

But seriously, monetary policy (low interest rates) is trickle down economics. The liquidity benefits mostly the banks, corporations and well-to-do individuals who need it least.

We need other policies to increase cash flow for those who are suffering most.

As sdr said, reducing mortgage interest rates at the bottom end will unleash billions of dollars to help the eco

If a homeowners had been faithfully paying his mortgage at 7% (can’t refinance for some reason). Why not reduce the rate to 4%?

The banks and corporations got their bailouts… now,let’s help the people who need it most. It’s about helping the economy as a whole, right now.[/quote]

Brian, good portion of ulcers are caused by bacteria, not stress as you limited understanding of how ulcers work has led you to believe. Some Dr. won a Nobel prize with that discovery…. So I’d recommend you stick to topics you know more about and avoid discussing health, women, and sex.

Brian, I don’t care because I already bought. I just think it sucks for people on the sideline. Also, as might also suck if you are a landlord.

[Coronita]

[quote=briansd1][quote=flu]This must suck donkey butt for folks who were responsible savers trying to save up for a home all these years. It would be ironic if these low interests rates were available only to people upside down.[/quote]

Don’t be bitter. Bitterness causes ulcers and activate enzymes that can cause cancer.

But seriously, monetary policy (low interest rates) is trickle down economics. The liquidity benefits mostly the banks, corporations and well-to-do individuals who need it least.

We need other policies to increase cash flow for those who are suffering most.

As sdr said, reducing mortgage interest rates at the bottom end will unleash billions of dollars to help the eco

If a homeowners had been faithfully paying his mortgage at 7% (can’t refinance for some reason). Why not reduce the rate to 4%?

The banks and corporations got their bailouts… now,let’s help the people who need it most. It’s about helping the economy as a whole, right now.[/quote]

Brian, good portion of ulcers are caused by bacteria, not stress as you limited understanding of how ulcers work has led you to believe. Some Dr. won a Nobel prize with that discovery…. So I’d recommend you stick to topics you know more about and avoid discussing health, women, and sex.

Brian, I don’t care because I already bought. I just think it sucks for people on the sideline. Also, as might also suck if you are a landlord.

[Coronita]

[quote=briansd1][quote=flu]This must suck donkey butt for folks who were responsible savers trying to save up for a home all these years. It would be ironic if these low interests rates were available only to people upside down.[/quote]

Don’t be bitter. Bitterness causes ulcers and activate enzymes that can cause cancer.

But seriously, monetary policy (low interest rates) is trickle down economics. The liquidity benefits mostly the banks, corporations and well-to-do individuals who need it least.

We need other policies to increase cash flow for those who are suffering most.

As sdr said, reducing mortgage interest rates at the bottom end will unleash billions of dollars to help the eco

If a homeowners had been faithfully paying his mortgage at 7% (can’t refinance for some reason). Why not reduce the rate to 4%?

The banks and corporations got their bailouts… now,let’s help the people who need it most. It’s about helping the economy as a whole, right now.[/quote]

Brian, good portion of ulcers are caused by bacteria, not stress as you limited understanding of how ulcers work has led you to believe. Some Dr. won a Nobel prize with that discovery…. So I’d recommend you stick to topics you know more about and avoid discussing health, women, and sex.

Brian, I don’t care because I already bought. I just think it sucks for people on the sideline. Also, as might also suck if you are a landlord.

[jpinpb]

[quote=CA renter]

1. Many responsible people have already refinanced over the past couple of years. Many of them have near 4% rates, while others have ARMs that have rates even lower than that. [/quote]

This is true. Heck, how many times has flu refinanced?

Thanks for that link, CAR.

And yes, flu is right. H. pylori bacteria is what causes ulcers. But what causes someone to get the H. pylori bacteria? Could stress weaken the immune system and the body is vulnerable to unfriendly bacteria?

[jpinpb]

[quote=CA renter]

1. Many responsible people have already refinanced over the past couple of years. Many of them have near 4% rates, while others have ARMs that have rates even lower than that. [/quote]

This is true. Heck, how many times has flu refinanced?

Thanks for that link, CAR.

And yes, flu is right. H. pylori bacteria is what causes ulcers. But what causes someone to get the H. pylori bacteria? Could stress weaken the immune system and the body is vulnerable to unfriendly bacteria?

[jpinpb]

[quote=CA renter]

1. Many responsible people have already refinanced over the past couple of years. Many of them have near 4% rates, while others have ARMs that have rates even lower than that. [/quote]

This is true. Heck, how many times has flu refinanced?

Thanks for that link, CAR.

And yes, flu is right. H. pylori bacteria is what causes ulcers. But what causes someone to get the H. pylori bacteria? Could stress weaken the immune system and the body is vulnerable to unfriendly bacteria?

[jpinpb]

[quote=CA renter]

1. Many responsible people have already refinanced over the past couple of years. Many of them have near 4% rates, while others have ARMs that have rates even lower than that. [/quote]

This is true. Heck, how many times has flu refinanced?

Thanks for that link, CAR.

And yes, flu is right. H. pylori bacteria is what causes ulcers. But what causes someone to get the H. pylori bacteria? Could stress weaken the immune system and the body is vulnerable to unfriendly bacteria?

[jpinpb]

[quote=CA renter]

1. Many responsible people have already refinanced over the past couple of years. Many of them have near 4% rates, while others have ARMs that have rates even lower than that. [/quote]

This is true. Heck, how many times has flu refinanced?

Thanks for that link, CAR.

And yes, flu is right. H. pylori bacteria is what causes ulcers. But what causes someone to get the H. pylori bacteria? Could stress weaken the immune system and the body is vulnerable to unfriendly bacteria?

[temeculaguy]

Car and jp, you guys love that squatters rent thing, I think that phase has passed. It’s a small sample, but of all the people I knew who got into trouble and ended up losing their homes, the glory days were the early days. When the banks were failing ad buying each other. When the government was panicking, when policy after policy was right around the corner. Moratorium after moratorium, scandal after scandal. I knew some who got a free ride for a year or two, I probably knew a dozen total who have lost their homes and all of it is in the rear view mirror now. It’s like any other disaster, initially it’s just triage and stabilize, but as time goes on and less enter the pipeline, things go back to normal.

That guy you quoted CAR says there are 44 million mortgages out there with 8% behind. So less than 4 million, but how many are 90 days behind? How many of those homes are vacant and in the short sale process, how many were investment properties that are not occupied? The total number that are squatting for years is going to be far less than half of the total, even at half (which I bet is way too high) were getting in the 1%, maybe 2% at best of the population. That’s not filling up the malls and driving the economy.

Back to the original idea, no intervention is always better, but there are many people left (far more than squatters) who have never been late on a payment, are still employed and are unable to refi because of LTV or self employed or any of the myriad of reasons. Which is why lowering the interest rate never has the desired effect of keeping people in their homes who are in the margins. What is the answer, I have no idea, compelling arguments on both sides have been made.

[temeculaguy]

Car and jp, you guys love that squatters rent thing, I think that phase has passed. It’s a small sample, but of all the people I knew who got into trouble and ended up losing their homes, the glory days were the early days. When the banks were failing ad buying each other. When the government was panicking, when policy after policy was right around the corner. Moratorium after moratorium, scandal after scandal. I knew some who got a free ride for a year or two, I probably knew a dozen total who have lost their homes and all of it is in the rear view mirror now. It’s like any other disaster, initially it’s just triage and stabilize, but as time goes on and less enter the pipeline, things go back to normal.

That guy you quoted CAR says there are 44 million mortgages out there with 8% behind. So less than 4 million, but how many are 90 days behind? How many of those homes are vacant and in the short sale process, how many were investment properties that are not occupied? The total number that are squatting for years is going to be far less than half of the total, even at half (which I bet is way too high) were getting in the 1%, maybe 2% at best of the population. That’s not filling up the malls and driving the economy.

Back to the original idea, no intervention is always better, but there are many people left (far more than squatters) who have never been late on a payment, are still employed and are unable to refi because of LTV or self employed or any of the myriad of reasons. Which is why lowering the interest rate never has the desired effect of keeping people in their homes who are in the margins. What is the answer, I have no idea, compelling arguments on both sides have been made.

[temeculaguy]

Car and jp, you guys love that squatters rent thing, I think that phase has passed. It’s a small sample, but of all the people I knew who got into trouble and ended up losing their homes, the glory days were the early days. When the banks were failing ad buying each other. When the government was panicking, when policy after policy was right around the corner. Moratorium after moratorium, scandal after scandal. I knew some who got a free ride for a year or two, I probably knew a dozen total who have lost their homes and all of it is in the rear view mirror now. It’s like any other disaster, initially it’s just triage and stabilize, but as time goes on and less enter the pipeline, things go back to normal.

That guy you quoted CAR says there are 44 million mortgages out there with 8% behind. So less than 4 million, but how many are 90 days behind? How many of those homes are vacant and in the short sale process, how many were investment properties that are not occupied? The total number that are squatting for years is going to be far less than half of the total, even at half (which I bet is way too high) were getting in the 1%, maybe 2% at best of the population. That’s not filling up the malls and driving the economy.

Back to the original idea, no intervention is always better, but there are many people left (far more than squatters) who have never been late on a payment, are still employed and are unable to refi because of LTV or self employed or any of the myriad of reasons. Which is why lowering the interest rate never has the desired effect of keeping people in their homes who are in the margins. What is the answer, I have no idea, compelling arguments on both sides have been made.

[temeculaguy]

Car and jp, you guys love that squatters rent thing, I think that phase has passed. It’s a small sample, but of all the people I knew who got into trouble and ended up losing their homes, the glory days were the early days. When the banks were failing ad buying each other. When the government was panicking, when policy after policy was right around the corner. Moratorium after moratorium, scandal after scandal. I knew some who got a free ride for a year or two, I probably knew a dozen total who have lost their homes and all of it is in the rear view mirror now. It’s like any other disaster, initially it’s just triage and stabilize, but as time goes on and less enter the pipeline, things go back to normal.

That guy you quoted CAR says there are 44 million mortgages out there with 8% behind. So less than 4 million, but how many are 90 days behind? How many of those homes are vacant and in the short sale process, how many were investment properties that are not occupied? The total number that are squatting for years is going to be far less than half of the total, even at half (which I bet is way too high) were getting in the 1%, maybe 2% at best of the population. That’s not filling up the malls and driving the economy.

Back to the original idea, no intervention is always better, but there are many people left (far more than squatters) who have never been late on a payment, are still employed and are unable to refi because of LTV or self employed or any of the myriad of reasons. Which is why lowering the interest rate never has the desired effect of keeping people in their homes who are in the margins. What is the answer, I have no idea, compelling arguments on both sides have been made.

[Author]

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