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saiine.
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March 5, 2011 at 9:01 PM #674751March 5, 2011 at 9:02 PM #673603
bearishgurl
Participant[quote=briansd1]. . . IMHO, the government should get completely out of the mortgage guarantee business for anything but mortgages under $200,000.
The banks will have to set underwriting standards based on their own risk assessments. If buyers can’t qualify for loans, then tough luck. They can continue to save and buy later.
If buyers want loans, they have to comply with the documentation process lenders require. . . [/quote]
brian, I agree with these provisions. I, too, think your idea of $200K for a “government guarantee” is a good upper limit for a first-time buyer loan in a typically “underserved area” that a “mainstream” lender may not want to loan in.
March 5, 2011 at 9:02 PM #673661Participant[quote=briansd1]. . . IMHO, the government should get completely out of the mortgage guarantee business for anything but mortgages under $200,000.
The banks will have to set underwriting standards based on their own risk assessments. If buyers can’t qualify for loans, then tough luck. They can continue to save and buy later.
If buyers want loans, they have to comply with the documentation process lenders require. . . [/quote]
brian, I agree with these provisions. I, too, think your idea of $200K for a “government guarantee” is a good upper limit for a first-time buyer loan in a typically “underserved area” that a “mainstream” lender may not want to loan in.
March 5, 2011 at 9:02 PM #674272Participant[quote=briansd1]. . . IMHO, the government should get completely out of the mortgage guarantee business for anything but mortgages under $200,000.
The banks will have to set underwriting standards based on their own risk assessments. If buyers can’t qualify for loans, then tough luck. They can continue to save and buy later.
If buyers want loans, they have to comply with the documentation process lenders require. . . [/quote]
brian, I agree with these provisions. I, too, think your idea of $200K for a “government guarantee” is a good upper limit for a first-time buyer loan in a typically “underserved area” that a “mainstream” lender may not want to loan in.
March 5, 2011 at 9:02 PM #674409Participant[quote=briansd1]. . . IMHO, the government should get completely out of the mortgage guarantee business for anything but mortgages under $200,000.
The banks will have to set underwriting standards based on their own risk assessments. If buyers can’t qualify for loans, then tough luck. They can continue to save and buy later.
If buyers want loans, they have to comply with the documentation process lenders require. . . [/quote]
brian, I agree with these provisions. I, too, think your idea of $200K for a “government guarantee” is a good upper limit for a first-time buyer loan in a typically “underserved area” that a “mainstream” lender may not want to loan in.
March 5, 2011 at 9:02 PM #674756Participant[quote=briansd1]. . . IMHO, the government should get completely out of the mortgage guarantee business for anything but mortgages under $200,000.
The banks will have to set underwriting standards based on their own risk assessments. If buyers can’t qualify for loans, then tough luck. They can continue to save and buy later.
If buyers want loans, they have to comply with the documentation process lenders require. . . [/quote]
brian, I agree with these provisions. I, too, think your idea of $200K for a “government guarantee” is a good upper limit for a first-time buyer loan in a typically “underserved area” that a “mainstream” lender may not want to loan in.
March 5, 2011 at 9:10 PM #673608sdrealtor
ParticipantDoes rising up from a lower class upbringing through community college to a state university to an Ivy League Medical School and residency at the Mayo Clinic while living on Top Ramen and driving a 20 year old car to get through it all not indicate character? Why should that be ignored?
Time to check out. Three of my neighbors have chosen to put their younglings in my care and I have four children in addition to my own to put to bed. Time to shut this party down…………..
March 5, 2011 at 9:10 PM #673666ParticipantDoes rising up from a lower class upbringing through community college to a state university to an Ivy League Medical School and residency at the Mayo Clinic while living on Top Ramen and driving a 20 year old car to get through it all not indicate character? Why should that be ignored?
Time to check out. Three of my neighbors have chosen to put their younglings in my care and I have four children in addition to my own to put to bed. Time to shut this party down…………..
March 5, 2011 at 9:10 PM #674277ParticipantDoes rising up from a lower class upbringing through community college to a state university to an Ivy League Medical School and residency at the Mayo Clinic while living on Top Ramen and driving a 20 year old car to get through it all not indicate character? Why should that be ignored?
Time to check out. Three of my neighbors have chosen to put their younglings in my care and I have four children in addition to my own to put to bed. Time to shut this party down…………..
March 5, 2011 at 9:10 PM #674414ParticipantDoes rising up from a lower class upbringing through community college to a state university to an Ivy League Medical School and residency at the Mayo Clinic while living on Top Ramen and driving a 20 year old car to get through it all not indicate character? Why should that be ignored?
Time to check out. Three of my neighbors have chosen to put their younglings in my care and I have four children in addition to my own to put to bed. Time to shut this party down…………..
March 5, 2011 at 9:10 PM #674761ParticipantDoes rising up from a lower class upbringing through community college to a state university to an Ivy League Medical School and residency at the Mayo Clinic while living on Top Ramen and driving a 20 year old car to get through it all not indicate character? Why should that be ignored?
Time to check out. Three of my neighbors have chosen to put their younglings in my care and I have four children in addition to my own to put to bed. Time to shut this party down…………..
March 5, 2011 at 9:15 PM #673613Participant[quote=sdrealtor]While their debt is massive their incomes are massive as are their tax bills. Many of our worker bees pay less over their entire lives than these guys pay in a single year.[/quote]
I don’t buy into the notion that these “professionals” pay more taxes in one year than “worker bees” do in a lifetime. If anything, they have more writeoffs, “loopholes,” and legal tax shelters available to them than “worker bees” ever would.
FWIW, my children (except for one straight-A HS student) are currently working full time and making more $$ than me, driving newer vehicles than me, traveling more than me and paying more monthly rent than my mortgage. I don’t see myself with any future “boomerang-kid” problems, thank you! Except for one $4K car loan, none has any continuing debt, to my knowledge :=)
I’m proud of them and I hope the rest of the Piggs are this lucky!
March 5, 2011 at 9:15 PM #673671Participant[quote=sdrealtor]While their debt is massive their incomes are massive as are their tax bills. Many of our worker bees pay less over their entire lives than these guys pay in a single year.[/quote]
I don’t buy into the notion that these “professionals” pay more taxes in one year than “worker bees” do in a lifetime. If anything, they have more writeoffs, “loopholes,” and legal tax shelters available to them than “worker bees” ever would.
FWIW, my children (except for one straight-A HS student) are currently working full time and making more $$ than me, driving newer vehicles than me, traveling more than me and paying more monthly rent than my mortgage. I don’t see myself with any future “boomerang-kid” problems, thank you! Except for one $4K car loan, none has any continuing debt, to my knowledge :=)
I’m proud of them and I hope the rest of the Piggs are this lucky!
March 5, 2011 at 9:15 PM #674282Participant[quote=sdrealtor]While their debt is massive their incomes are massive as are their tax bills. Many of our worker bees pay less over their entire lives than these guys pay in a single year.[/quote]
I don’t buy into the notion that these “professionals” pay more taxes in one year than “worker bees” do in a lifetime. If anything, they have more writeoffs, “loopholes,” and legal tax shelters available to them than “worker bees” ever would.
FWIW, my children (except for one straight-A HS student) are currently working full time and making more $$ than me, driving newer vehicles than me, traveling more than me and paying more monthly rent than my mortgage. I don’t see myself with any future “boomerang-kid” problems, thank you! Except for one $4K car loan, none has any continuing debt, to my knowledge :=)
I’m proud of them and I hope the rest of the Piggs are this lucky!
March 5, 2011 at 9:15 PM #674419Participant[quote=sdrealtor]While their debt is massive their incomes are massive as are their tax bills. Many of our worker bees pay less over their entire lives than these guys pay in a single year.[/quote]
I don’t buy into the notion that these “professionals” pay more taxes in one year than “worker bees” do in a lifetime. If anything, they have more writeoffs, “loopholes,” and legal tax shelters available to them than “worker bees” ever would.
FWIW, my children (except for one straight-A HS student) are currently working full time and making more $$ than me, driving newer vehicles than me, traveling more than me and paying more monthly rent than my mortgage. I don’t see myself with any future “boomerang-kid” problems, thank you! Except for one $4K car loan, none has any continuing debt, to my knowledge :=)
I’m proud of them and I hope the rest of the Piggs are this lucky!
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