Unfortunate Details of the Bailout

[NotCranky]

Where does mortgage insurance fit into this?

For those who don’t know, this is how FHA supposedly works:

Mutual Mortgage Insurance Fund:
Government sponsored mortgage insurance administered by the Federal Housing Administration which insures mortgage loans on one- to four-family residential housing. The plan is designed to be self-funding, the FHA collects premiums from mortgagors and pays lender claims on losses from mortgage defaults. Borrowers pay a one time premium or MIP which is a part of the monthly payment. Maybe some of those big 6% seller contributions go to that?

On the bright side, Bidding on HUD repos is fun.

[Pasadena Broker]

“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”

It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.

This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.

[Pasadena Broker]

“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”

It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.

This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.

[Pasadena Broker]

“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”

It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.

This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.

[Pasadena Broker]

“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”

It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.

This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.

[Pasadena Broker]

“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”

It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.

This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.

[Anonymous]

Ok, is this going to work, guys? Is this latest scheme going to delay the crash?

[Anonymous]

Ok, is this going to work, guys? Is this latest scheme going to delay the crash?

[Anonymous]

Ok, is this going to work, guys? Is this latest scheme going to delay the crash?

[Anonymous]

Ok, is this going to work, guys? Is this latest scheme going to delay the crash?

[Anonymous]

Ok, is this going to work, guys? Is this latest scheme going to delay the crash?

[kev374]

It’s a fraudulent scheme by the government under the guise of helping homeowners it just bails out the investors and shifts the risk to the taxpayers, simple as that.

[kev374]

It’s a fraudulent scheme by the government under the guise of helping homeowners it just bails out the investors and shifts the risk to the taxpayers, simple as that.

[kev374]

It’s a fraudulent scheme by the government under the guise of helping homeowners it just bails out the investors and shifts the risk to the taxpayers, simple as that.

[kev374]

It’s a fraudulent scheme by the government under the guise of helping homeowners it just bails out the investors and shifts the risk to the taxpayers, simple as that.

[Author]

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