The White House Freezing Loans for 5-Years

[LostCat]

This is Sad… Very very Sad. Maybe the white house is stepping in because it has become a threat to our national security.

[kewp]

SD Realtor,

I’m on board with you. It’s a bitter pill to swallow, but anything is better than a systemic failure of our financial systems.

[kewp]

SD Realtor,

I’m on board with you. It’s a bitter pill to swallow, but anything is better than a systemic failure of our financial systems.

[kewp]

SD Realtor,

I’m on board with you. It’s a bitter pill to swallow, but anything is better than a systemic failure of our financial systems.

[kewp]

SD Realtor,

I’m on board with you. It’s a bitter pill to swallow, but anything is better than a systemic failure of our financial systems.

[kewp]

SD Realtor,

I’m on board with you. It’s a bitter pill to swallow, but anything is better than a systemic failure of our financial systems.

[djrobsd]

I agree with SDR, I think this is delaying the inevitable, and hopefully preventing a major collapse in our financial system here in America…

I think what a lot of you angry people are not understanding is that our governmen is NOT bailing any one out. We’re not writing a check to these homeowners, or to the banks. It’s a NEGOTIATION that lawmakers and the Fed made with banks to get them to voluntarilly agree to freeze these rates for 5 years. The only people loosing on this deal are the investors who bought the securities in the first place…. And whateve trickle down effect they have… So while you may think this is a government bailout it’s not..

And, with that said, looks like it’s not going to help very many folks, including myself… Says loans had to be originated in 2005, mine was in late 2004, so I’m a day late and a dollar short… LOL Plus, it’s only for SUBPRIME loans, looks like loans in the higher interest rate bracket. My “initial” rate was 5.875, with a reset to 8.875, so I’m assuming I’m not in subprime territory, but who knows, I don’t remember what my credit score was when I bought my house… Oh well, I signed the papers now I have to deal with the consequences.

[djrobsd]

I agree with SDR, I think this is delaying the inevitable, and hopefully preventing a major collapse in our financial system here in America…

I think what a lot of you angry people are not understanding is that our governmen is NOT bailing any one out. We’re not writing a check to these homeowners, or to the banks. It’s a NEGOTIATION that lawmakers and the Fed made with banks to get them to voluntarilly agree to freeze these rates for 5 years. The only people loosing on this deal are the investors who bought the securities in the first place…. And whateve trickle down effect they have… So while you may think this is a government bailout it’s not..

And, with that said, looks like it’s not going to help very many folks, including myself… Says loans had to be originated in 2005, mine was in late 2004, so I’m a day late and a dollar short… LOL Plus, it’s only for SUBPRIME loans, looks like loans in the higher interest rate bracket. My “initial” rate was 5.875, with a reset to 8.875, so I’m assuming I’m not in subprime territory, but who knows, I don’t remember what my credit score was when I bought my house… Oh well, I signed the papers now I have to deal with the consequences.

[djrobsd]

I agree with SDR, I think this is delaying the inevitable, and hopefully preventing a major collapse in our financial system here in America…

I think what a lot of you angry people are not understanding is that our governmen is NOT bailing any one out. We’re not writing a check to these homeowners, or to the banks. It’s a NEGOTIATION that lawmakers and the Fed made with banks to get them to voluntarilly agree to freeze these rates for 5 years. The only people loosing on this deal are the investors who bought the securities in the first place…. And whateve trickle down effect they have… So while you may think this is a government bailout it’s not..

And, with that said, looks like it’s not going to help very many folks, including myself… Says loans had to be originated in 2005, mine was in late 2004, so I’m a day late and a dollar short… LOL Plus, it’s only for SUBPRIME loans, looks like loans in the higher interest rate bracket. My “initial” rate was 5.875, with a reset to 8.875, so I’m assuming I’m not in subprime territory, but who knows, I don’t remember what my credit score was when I bought my house… Oh well, I signed the papers now I have to deal with the consequences.

[djrobsd]

I agree with SDR, I think this is delaying the inevitable, and hopefully preventing a major collapse in our financial system here in America…

I think what a lot of you angry people are not understanding is that our governmen is NOT bailing any one out. We’re not writing a check to these homeowners, or to the banks. It’s a NEGOTIATION that lawmakers and the Fed made with banks to get them to voluntarilly agree to freeze these rates for 5 years. The only people loosing on this deal are the investors who bought the securities in the first place…. And whateve trickle down effect they have… So while you may think this is a government bailout it’s not..

And, with that said, looks like it’s not going to help very many folks, including myself… Says loans had to be originated in 2005, mine was in late 2004, so I’m a day late and a dollar short… LOL Plus, it’s only for SUBPRIME loans, looks like loans in the higher interest rate bracket. My “initial” rate was 5.875, with a reset to 8.875, so I’m assuming I’m not in subprime territory, but who knows, I don’t remember what my credit score was when I bought my house… Oh well, I signed the papers now I have to deal with the consequences.

[djrobsd]

I agree with SDR, I think this is delaying the inevitable, and hopefully preventing a major collapse in our financial system here in America…

I think what a lot of you angry people are not understanding is that our governmen is NOT bailing any one out. We’re not writing a check to these homeowners, or to the banks. It’s a NEGOTIATION that lawmakers and the Fed made with banks to get them to voluntarilly agree to freeze these rates for 5 years. The only people loosing on this deal are the investors who bought the securities in the first place…. And whateve trickle down effect they have… So while you may think this is a government bailout it’s not..

And, with that said, looks like it’s not going to help very many folks, including myself… Says loans had to be originated in 2005, mine was in late 2004, so I’m a day late and a dollar short… LOL Plus, it’s only for SUBPRIME loans, looks like loans in the higher interest rate bracket. My “initial” rate was 5.875, with a reset to 8.875, so I’m assuming I’m not in subprime territory, but who knows, I don’t remember what my credit score was when I bought my house… Oh well, I signed the papers now I have to deal with the consequences.

[jmpman]

The Whitehouse is so concerned for these people with resetting ARMs. This new policy implies that the govt thinks these people should be saved from themselves.

I propose the govt goes one step further, and completely eliminates the ability to finance using ARMs. This will further save the American people from their inability to make sound financial decisions.

Then, maybe I’ll be able to afford a house with a 30 year fixed… bringing true long term stability to the American people.

Seriously though… what would eliminating all but 30 year fixed mortgages do to the housing market?

I’m fine with that type of government intervention.

[jmpman]

The Whitehouse is so concerned for these people with resetting ARMs. This new policy implies that the govt thinks these people should be saved from themselves.

I propose the govt goes one step further, and completely eliminates the ability to finance using ARMs. This will further save the American people from their inability to make sound financial decisions.

Then, maybe I’ll be able to afford a house with a 30 year fixed… bringing true long term stability to the American people.

Seriously though… what would eliminating all but 30 year fixed mortgages do to the housing market?

I’m fine with that type of government intervention.

[jmpman]

The Whitehouse is so concerned for these people with resetting ARMs. This new policy implies that the govt thinks these people should be saved from themselves.

I propose the govt goes one step further, and completely eliminates the ability to finance using ARMs. This will further save the American people from their inability to make sound financial decisions.

Then, maybe I’ll be able to afford a house with a 30 year fixed… bringing true long term stability to the American people.

Seriously though… what would eliminating all but 30 year fixed mortgages do to the housing market?

I’m fine with that type of government intervention.

[jmpman]

The Whitehouse is so concerned for these people with resetting ARMs. This new policy implies that the govt thinks these people should be saved from themselves.

I propose the govt goes one step further, and completely eliminates the ability to finance using ARMs. This will further save the American people from their inability to make sound financial decisions.

Then, maybe I’ll be able to afford a house with a 30 year fixed… bringing true long term stability to the American people.

Seriously though… what would eliminating all but 30 year fixed mortgages do to the housing market?

I’m fine with that type of government intervention.

[Author]

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