- This topic has 30 replies, 4 voices, and was last updated 15 years ago by
HereWeGo.
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AuthorPosts
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March 9, 2008 at 2:12 PM #12043
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March 9, 2008 at 3:22 PM #166340
JWM in SD
ParticipantJWM in SD
“Not that is isn’t already very bad for home prices, of course. But the thought that things could actually get worse? Not many in the industry want to go there.”
Yes and therin lies the whole problem doesn’t it? Everybody is still dancing around the obvious even at this stage of the game.
They might as well put a moratorium on prices…it would more transparent than the bullshit that is being proposed.
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March 9, 2008 at 9:27 PM #166479
Deal Hunter
ParticipantOf course Fannie and Freddie can’t prop up housing. The FHA modernizations and increased loan limits for Fannie and Freddie were meant to “steer SENTIMENT” in the market. It was meant to
a)get buyers off the fence and
b)lenders to start originating loans again
c)cause financial stocks to rally backSo the only thing that happened was “c” and even then it was feeble.
Remember in the 80’s when HUD had those huge lists of homes on auction? Well, those lists will be back – unless they pass tax reform first.
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March 10, 2008 at 8:18 AM #166665
HereWeGo
ParticipantIt certainly looks like the market is growing more and more concerned about the possibility of nationalization of FRE and FNM.
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March 10, 2008 at 8:39 AM #166675
jficquette
ParticipantI used to be a Controller of a smaller division of US Home Corp in New Orleans from 81-86. I also built a few spec houses in Atlanta in 1987. I built and sold 8 in 9 months and it worked out great. I got out of the business because I realized the only people who make money in building are the banks.
I got an idea back then for the government or a GSE to issue mortages on conforming loads where the investor didn’t have to pay income tax on the interest and the homeowner couldn’t deduct the interest.
The idea was that this would cut the mortgage rates by about 30% and since most lower income, and now today middle income families don’t get the benefit of interest deduction anyway.
This would not be available to nonconforming loans or people with income over a certain level or to investors.
I talked to the president of the company about it and it just flew right over the time of his head which was odd since at the time the fha rate was 17% lol.
John
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March 10, 2008 at 8:39 AM #166996
jficquette
ParticipantI used to be a Controller of a smaller division of US Home Corp in New Orleans from 81-86. I also built a few spec houses in Atlanta in 1987. I built and sold 8 in 9 months and it worked out great. I got out of the business because I realized the only people who make money in building are the banks.
I got an idea back then for the government or a GSE to issue mortages on conforming loads where the investor didn’t have to pay income tax on the interest and the homeowner couldn’t deduct the interest.
The idea was that this would cut the mortgage rates by about 30% and since most lower income, and now today middle income families don’t get the benefit of interest deduction anyway.
This would not be available to nonconforming loans or people with income over a certain level or to investors.
I talked to the president of the company about it and it just flew right over the time of his head which was odd since at the time the fha rate was 17% lol.
John
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March 10, 2008 at 8:39 AM #167000
jficquette
ParticipantI used to be a Controller of a smaller division of US Home Corp in New Orleans from 81-86. I also built a few spec houses in Atlanta in 1987. I built and sold 8 in 9 months and it worked out great. I got out of the business because I realized the only people who make money in building are the banks.
I got an idea back then for the government or a GSE to issue mortages on conforming loads where the investor didn’t have to pay income tax on the interest and the homeowner couldn’t deduct the interest.
The idea was that this would cut the mortgage rates by about 30% and since most lower income, and now today middle income families don’t get the benefit of interest deduction anyway.
This would not be available to nonconforming loans or people with income over a certain level or to investors.
I talked to the president of the company about it and it just flew right over the time of his head which was odd since at the time the fha rate was 17% lol.
John
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March 10, 2008 at 8:39 AM #167032
jficquette
ParticipantI used to be a Controller of a smaller division of US Home Corp in New Orleans from 81-86. I also built a few spec houses in Atlanta in 1987. I built and sold 8 in 9 months and it worked out great. I got out of the business because I realized the only people who make money in building are the banks.
I got an idea back then for the government or a GSE to issue mortages on conforming loads where the investor didn’t have to pay income tax on the interest and the homeowner couldn’t deduct the interest.
The idea was that this would cut the mortgage rates by about 30% and since most lower income, and now today middle income families don’t get the benefit of interest deduction anyway.
This would not be available to nonconforming loans or people with income over a certain level or to investors.
I talked to the president of the company about it and it just flew right over the time of his head which was odd since at the time the fha rate was 17% lol.
John
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March 10, 2008 at 8:39 AM #167093
jficquette
ParticipantI used to be a Controller of a smaller division of US Home Corp in New Orleans from 81-86. I also built a few spec houses in Atlanta in 1987. I built and sold 8 in 9 months and it worked out great. I got out of the business because I realized the only people who make money in building are the banks.
I got an idea back then for the government or a GSE to issue mortages on conforming loads where the investor didn’t have to pay income tax on the interest and the homeowner couldn’t deduct the interest.
The idea was that this would cut the mortgage rates by about 30% and since most lower income, and now today middle income families don’t get the benefit of interest deduction anyway.
This would not be available to nonconforming loans or people with income over a certain level or to investors.
I talked to the president of the company about it and it just flew right over the time of his head which was odd since at the time the fha rate was 17% lol.
John
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March 10, 2008 at 1:15 PM #166830
Deal Hunter
ParticipantYou mean the “re-nationalization” of Freddie and Fannie?
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March 10, 2008 at 2:25 PM #166900
HereWeGo
ParticipantLOL. Was Freddie ever officially part of the government? I thought it was created after Fannie was “privatized.”
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March 10, 2008 at 2:25 PM #167221
HereWeGo
ParticipantLOL. Was Freddie ever officially part of the government? I thought it was created after Fannie was “privatized.”
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March 10, 2008 at 2:25 PM #167225
HereWeGo
ParticipantLOL. Was Freddie ever officially part of the government? I thought it was created after Fannie was “privatized.”
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March 10, 2008 at 2:25 PM #167258
HereWeGo
ParticipantLOL. Was Freddie ever officially part of the government? I thought it was created after Fannie was “privatized.”
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March 10, 2008 at 2:25 PM #167321
HereWeGo
ParticipantLOL. Was Freddie ever officially part of the government? I thought it was created after Fannie was “privatized.”
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March 10, 2008 at 1:15 PM #167151
Deal Hunter
ParticipantYou mean the “re-nationalization” of Freddie and Fannie?
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March 10, 2008 at 1:15 PM #167155
Deal Hunter
ParticipantYou mean the “re-nationalization” of Freddie and Fannie?
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March 10, 2008 at 1:15 PM #167187
Deal Hunter
ParticipantYou mean the “re-nationalization” of Freddie and Fannie?
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March 10, 2008 at 1:15 PM #167251
Deal Hunter
ParticipantYou mean the “re-nationalization” of Freddie and Fannie?
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March 10, 2008 at 8:18 AM #166985
HereWeGo
ParticipantIt certainly looks like the market is growing more and more concerned about the possibility of nationalization of FRE and FNM.
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March 10, 2008 at 8:18 AM #166991
HereWeGo
ParticipantIt certainly looks like the market is growing more and more concerned about the possibility of nationalization of FRE and FNM.
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March 10, 2008 at 8:18 AM #167022
HereWeGo
ParticipantIt certainly looks like the market is growing more and more concerned about the possibility of nationalization of FRE and FNM.
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March 10, 2008 at 8:18 AM #167083
HereWeGo
ParticipantIt certainly looks like the market is growing more and more concerned about the possibility of nationalization of FRE and FNM.
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March 9, 2008 at 9:27 PM #166798
Deal Hunter
ParticipantOf course Fannie and Freddie can’t prop up housing. The FHA modernizations and increased loan limits for Fannie and Freddie were meant to “steer SENTIMENT” in the market. It was meant to
a)get buyers off the fence and
b)lenders to start originating loans again
c)cause financial stocks to rally backSo the only thing that happened was “c” and even then it was feeble.
Remember in the 80’s when HUD had those huge lists of homes on auction? Well, those lists will be back – unless they pass tax reform first.
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March 9, 2008 at 9:27 PM #166806
Deal Hunter
ParticipantOf course Fannie and Freddie can’t prop up housing. The FHA modernizations and increased loan limits for Fannie and Freddie were meant to “steer SENTIMENT” in the market. It was meant to
a)get buyers off the fence and
b)lenders to start originating loans again
c)cause financial stocks to rally backSo the only thing that happened was “c” and even then it was feeble.
Remember in the 80’s when HUD had those huge lists of homes on auction? Well, those lists will be back – unless they pass tax reform first.
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March 9, 2008 at 9:27 PM #166837
Deal Hunter
ParticipantOf course Fannie and Freddie can’t prop up housing. The FHA modernizations and increased loan limits for Fannie and Freddie were meant to “steer SENTIMENT” in the market. It was meant to
a)get buyers off the fence and
b)lenders to start originating loans again
c)cause financial stocks to rally backSo the only thing that happened was “c” and even then it was feeble.
Remember in the 80’s when HUD had those huge lists of homes on auction? Well, those lists will be back – unless they pass tax reform first.
-
March 9, 2008 at 9:27 PM #166898
Deal Hunter
ParticipantOf course Fannie and Freddie can’t prop up housing. The FHA modernizations and increased loan limits for Fannie and Freddie were meant to “steer SENTIMENT” in the market. It was meant to
a)get buyers off the fence and
b)lenders to start originating loans again
c)cause financial stocks to rally backSo the only thing that happened was “c” and even then it was feeble.
Remember in the 80’s when HUD had those huge lists of homes on auction? Well, those lists will be back – unless they pass tax reform first.
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March 9, 2008 at 3:22 PM #166658
JWM in SD
ParticipantJWM in SD
“Not that is isn’t already very bad for home prices, of course. But the thought that things could actually get worse? Not many in the industry want to go there.”
Yes and therin lies the whole problem doesn’t it? Everybody is still dancing around the obvious even at this stage of the game.
They might as well put a moratorium on prices…it would more transparent than the bullshit that is being proposed.
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March 9, 2008 at 3:22 PM #166666
JWM in SD
ParticipantJWM in SD
“Not that is isn’t already very bad for home prices, of course. But the thought that things could actually get worse? Not many in the industry want to go there.”
Yes and therin lies the whole problem doesn’t it? Everybody is still dancing around the obvious even at this stage of the game.
They might as well put a moratorium on prices…it would more transparent than the bullshit that is being proposed.
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March 9, 2008 at 3:22 PM #166698
JWM in SD
ParticipantJWM in SD
“Not that is isn’t already very bad for home prices, of course. But the thought that things could actually get worse? Not many in the industry want to go there.”
Yes and therin lies the whole problem doesn’t it? Everybody is still dancing around the obvious even at this stage of the game.
They might as well put a moratorium on prices…it would more transparent than the bullshit that is being proposed.
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March 9, 2008 at 3:22 PM #166759
JWM in SD
ParticipantJWM in SD
“Not that is isn’t already very bad for home prices, of course. But the thought that things could actually get worse? Not many in the industry want to go there.”
Yes and therin lies the whole problem doesn’t it? Everybody is still dancing around the obvious even at this stage of the game.
They might as well put a moratorium on prices…it would more transparent than the bullshit that is being proposed.
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