[AK]

Chrysler paid the government a loan guarantee fee, and repaid the guaranteed loans early. In the end there was no direct cost to taxpayers.

IIRC the government also made hundreds of millions by exercising stock warrants given as part of the bailout package. The cost was passed on to Chrysler stockholders in the form of dilution.

Chrysler had to renegotiate its existing debt. Creditors wrote off substantial sums in order to avoid even greater losses in bankruptcy.

Sure, Chrysler screwed up, and by the cold logic of capitalism shareholders and management deserved to feel some pain. They did. But the bailout kept thousands of workers and dozens of plants in productive use.

A house produces nothing. It is valuable for its use as shelter, but a 3000sf house serves the same purpose whether it costs $1 million or $400,000.

[AK]

Doesn’t FHA have a 31% limit for PITI expenses on top of the 43% DTI limit? If so I’d imagine that would be a deal-breaker for most Californians.

Jillayne Schlicke at raincityguide.com makes a few pointed observations about FHA “reform”:

FHA: A Siren Who Just Might Break Your Heart

FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need

Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:

When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.

Ooooh 🙂

[AK]

Doesn’t FHA have a 31% limit for PITI expenses on top of the 43% DTI limit? If so I’d imagine that would be a deal-breaker for most Californians.

Jillayne Schlicke at raincityguide.com makes a few pointed observations about FHA “reform”:

FHA: A Siren Who Just Might Break Your Heart

FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need

Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:

When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.

Ooooh 🙂

[AK]

Doesn’t FHA have a 31% limit for PITI expenses on top of the 43% DTI limit? If so I’d imagine that would be a deal-breaker for most Californians.

Jillayne Schlicke at raincityguide.com makes a few pointed observations about FHA “reform”:

FHA: A Siren Who Just Might Break Your Heart

FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need

Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:

When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.

Ooooh 🙂

[AK]

Doesn’t FHA have a 31% limit for PITI expenses on top of the 43% DTI limit? If so I’d imagine that would be a deal-breaker for most Californians.

Jillayne Schlicke at raincityguide.com makes a few pointed observations about FHA “reform”:

FHA: A Siren Who Just Might Break Your Heart

FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need

Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:

When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.

Ooooh 🙂

[AK]

Doesn’t FHA have a 31% limit for PITI expenses on top of the 43% DTI limit? If so I’d imagine that would be a deal-breaker for most Californians.

Jillayne Schlicke at raincityguide.com makes a few pointed observations about FHA “reform”:

FHA: A Siren Who Just Might Break Your Heart

FHA Secure: A Political Power Move Disguised as a Helping Hand to Those in Need

Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:

When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.

Ooooh 🙂

[AK]

Raising the Fannie and Freddie conforming limit is bad enough.

But FHA?!?!?!?!?!?!?

[AK]

Raising the Fannie and Freddie conforming limit is bad enough.

But FHA?!?!?!?!?!?!?

[AK]

Raising the Fannie and Freddie conforming limit is bad enough.

But FHA?!?!?!?!?!?!?

[AK]

Raising the Fannie and Freddie conforming limit is bad enough.

But FHA?!?!?!?!?!?!?

[AK]

Raising the Fannie and Freddie conforming limit is bad enough.

But FHA?!?!?!?!?!?!?

[AK]

At the very least run a Carfax or similar report on *any* used vehicle, even “certified pre-owned.” Many are former out-of-state rentals, and many state DMVs don’t document flood-damaged cars.

[AK]

At the very least run a Carfax or similar report on *any* used vehicle, even “certified pre-owned.” Many are former out-of-state rentals, and many state DMVs don’t document flood-damaged cars.

[AK]

At the very least run a Carfax or similar report on *any* used vehicle, even “certified pre-owned.” Many are former out-of-state rentals, and many state DMVs don’t document flood-damaged cars.

[AK]

At the very least run a Carfax or similar report on *any* used vehicle, even “certified pre-owned.” Many are former out-of-state rentals, and many state DMVs don’t document flood-damaged cars.

[Author]

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