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HLS
ParticipantYep..
I know several dishonest ex-loan originators that are now dishonest loan mod advisors…..They screwed people on their original loan and are now screwing them by taking money from them for a mod….
People should be thrilled that it’s their family, friends and neighbors that they deal with that got them that free loan to start with and can now offer them a mod!@
Participant92126,
You get credit for stepping up and facing this.Why are you filng BK ?
If you have your original purchase loans, Foreclosure should be non recourse debt and will only be on your credit report for 7 years.
BK will be on your credit report for 10 years.
Your wife’s credit should not be affected with FC.By current FNMA guidelines today, you have no chance of getting a mortgage for 5 years.
(THAT WILL PROBABLY CHANGE)
FHA may have a shorter window.Do you have a pile of other debt that you are trying to escape ??
If your wife can qualify with just her income & credit score you will be able to buy sooner.
Participant92126,
You get credit for stepping up and facing this.Why are you filng BK ?
If you have your original purchase loans, Foreclosure should be non recourse debt and will only be on your credit report for 7 years.
BK will be on your credit report for 10 years.
Your wife’s credit should not be affected with FC.By current FNMA guidelines today, you have no chance of getting a mortgage for 5 years.
(THAT WILL PROBABLY CHANGE)
FHA may have a shorter window.Do you have a pile of other debt that you are trying to escape ??
If your wife can qualify with just her income & credit score you will be able to buy sooner.
Participant92126,
You get credit for stepping up and facing this.Why are you filng BK ?
If you have your original purchase loans, Foreclosure should be non recourse debt and will only be on your credit report for 7 years.
BK will be on your credit report for 10 years.
Your wife’s credit should not be affected with FC.By current FNMA guidelines today, you have no chance of getting a mortgage for 5 years.
(THAT WILL PROBABLY CHANGE)
FHA may have a shorter window.Do you have a pile of other debt that you are trying to escape ??
If your wife can qualify with just her income & credit score you will be able to buy sooner.
Participant92126,
You get credit for stepping up and facing this.Why are you filng BK ?
If you have your original purchase loans, Foreclosure should be non recourse debt and will only be on your credit report for 7 years.
BK will be on your credit report for 10 years.
Your wife’s credit should not be affected with FC.By current FNMA guidelines today, you have no chance of getting a mortgage for 5 years.
(THAT WILL PROBABLY CHANGE)
FHA may have a shorter window.Do you have a pile of other debt that you are trying to escape ??
If your wife can qualify with just her income & credit score you will be able to buy sooner.
Participant92126,
You get credit for stepping up and facing this.Why are you filng BK ?
If you have your original purchase loans, Foreclosure should be non recourse debt and will only be on your credit report for 7 years.
BK will be on your credit report for 10 years.
Your wife’s credit should not be affected with FC.By current FNMA guidelines today, you have no chance of getting a mortgage for 5 years.
(THAT WILL PROBABLY CHANGE)
FHA may have a shorter window.Do you have a pile of other debt that you are trying to escape ??
If your wife can qualify with just her income & credit score you will be able to buy sooner.
ParticipantGand…
I didn’t say that ALL govt involvement was bad.
We actually agree about competent govt. needed…
I’m not suggesting that we have a Somalia scenario.In my life, I don’t think that I have seen a competent US govt.
I remember Watergate, Jimmy Carter years, Reaganomics, Bushes and Clinton.Have never heard any of them encourage responsible fiscal policy. Borrow from tomorrow to create the illusion of prosperity today…
The single root cause of the current global meltdown was 100% home financing being allowed/encouraged/condoned by the US govt, promoting a homeownership society.
Greenspan and low rates was not the problem. Low rates combined with minimum 10% down payment to buy a house would have kept the bubble from inflating.
ALL of the fraud, greed, & incompetence occurred as a direct result of 100% financing being allowed.
We have low interest rates today and no more 100% financing available. There is no bubble inflating today.
The govt will never admit that their incompetence and lack of oversight & ethics allowed this to happen.
Barney Frank et al, have blood on their hands.
FNMA was in bed with the govt. Responsible people now need vaseline to keep from feeling the result.
The 1929 crash and resulting depression was a direct result of the govt allowing the economy to inflate on artifical “wealth” The crash was inevitable. The Roaring 20’s were artificial.
The 2008+ crash was a direct result of the govt allowing the economy to inflate on artificial “weath”. The crash was inevitable.
Recent prosperity was also artificial.It really isn’t complicated. It was good for the economy until it wasn’t good for the economy any more. The govt looked good until they didn’t look good any more.
Today’s global meltdown is far, far from over. The worst is yet to come and it could have all been prevented if only 10% down was required to buy a house after the turn of the century. ..HLS
ParticipantGand…
I didn’t say that ALL govt involvement was bad.
We actually agree about competent govt. needed…
I’m not suggesting that we have a Somalia scenario.In my life, I don’t think that I have seen a competent US govt.
I remember Watergate, Jimmy Carter years, Reaganomics, Bushes and Clinton.Have never heard any of them encourage responsible fiscal policy. Borrow from tomorrow to create the illusion of prosperity today…
The single root cause of the current global meltdown was 100% home financing being allowed/encouraged/condoned by the US govt, promoting a homeownership society.
Greenspan and low rates was not the problem. Low rates combined with minimum 10% down payment to buy a house would have kept the bubble from inflating.
ALL of the fraud, greed, & incompetence occurred as a direct result of 100% financing being allowed.
We have low interest rates today and no more 100% financing available. There is no bubble inflating today.
The govt will never admit that their incompetence and lack of oversight & ethics allowed this to happen.
Barney Frank et al, have blood on their hands.
FNMA was in bed with the govt. Responsible people now need vaseline to keep from feeling the result.
The 1929 crash and resulting depression was a direct result of the govt allowing the economy to inflate on artifical “wealth” The crash was inevitable. The Roaring 20’s were artificial.
The 2008+ crash was a direct result of the govt allowing the economy to inflate on artificial “weath”. The crash was inevitable.
Recent prosperity was also artificial.It really isn’t complicated. It was good for the economy until it wasn’t good for the economy any more. The govt looked good until they didn’t look good any more.
Today’s global meltdown is far, far from over. The worst is yet to come and it could have all been prevented if only 10% down was required to buy a house after the turn of the century. ..HLS
ParticipantGand…
I didn’t say that ALL govt involvement was bad.
We actually agree about competent govt. needed…
I’m not suggesting that we have a Somalia scenario.In my life, I don’t think that I have seen a competent US govt.
I remember Watergate, Jimmy Carter years, Reaganomics, Bushes and Clinton.Have never heard any of them encourage responsible fiscal policy. Borrow from tomorrow to create the illusion of prosperity today…
The single root cause of the current global meltdown was 100% home financing being allowed/encouraged/condoned by the US govt, promoting a homeownership society.
Greenspan and low rates was not the problem. Low rates combined with minimum 10% down payment to buy a house would have kept the bubble from inflating.
ALL of the fraud, greed, & incompetence occurred as a direct result of 100% financing being allowed.
We have low interest rates today and no more 100% financing available. There is no bubble inflating today.
The govt will never admit that their incompetence and lack of oversight & ethics allowed this to happen.
Barney Frank et al, have blood on their hands.
FNMA was in bed with the govt. Responsible people now need vaseline to keep from feeling the result.
The 1929 crash and resulting depression was a direct result of the govt allowing the economy to inflate on artifical “wealth” The crash was inevitable. The Roaring 20’s were artificial.
The 2008+ crash was a direct result of the govt allowing the economy to inflate on artificial “weath”. The crash was inevitable.
Recent prosperity was also artificial.It really isn’t complicated. It was good for the economy until it wasn’t good for the economy any more. The govt looked good until they didn’t look good any more.
Today’s global meltdown is far, far from over. The worst is yet to come and it could have all been prevented if only 10% down was required to buy a house after the turn of the century. ..HLS
ParticipantGand…
I didn’t say that ALL govt involvement was bad.
We actually agree about competent govt. needed…
I’m not suggesting that we have a Somalia scenario.In my life, I don’t think that I have seen a competent US govt.
I remember Watergate, Jimmy Carter years, Reaganomics, Bushes and Clinton.Have never heard any of them encourage responsible fiscal policy. Borrow from tomorrow to create the illusion of prosperity today…
The single root cause of the current global meltdown was 100% home financing being allowed/encouraged/condoned by the US govt, promoting a homeownership society.
Greenspan and low rates was not the problem. Low rates combined with minimum 10% down payment to buy a house would have kept the bubble from inflating.
ALL of the fraud, greed, & incompetence occurred as a direct result of 100% financing being allowed.
We have low interest rates today and no more 100% financing available. There is no bubble inflating today.
The govt will never admit that their incompetence and lack of oversight & ethics allowed this to happen.
Barney Frank et al, have blood on their hands.
FNMA was in bed with the govt. Responsible people now need vaseline to keep from feeling the result.
The 1929 crash and resulting depression was a direct result of the govt allowing the economy to inflate on artifical “wealth” The crash was inevitable. The Roaring 20’s were artificial.
The 2008+ crash was a direct result of the govt allowing the economy to inflate on artificial “weath”. The crash was inevitable.
Recent prosperity was also artificial.It really isn’t complicated. It was good for the economy until it wasn’t good for the economy any more. The govt looked good until they didn’t look good any more.
Today’s global meltdown is far, far from over. The worst is yet to come and it could have all been prevented if only 10% down was required to buy a house after the turn of the century. ..HLS
ParticipantGand…
I didn’t say that ALL govt involvement was bad.
We actually agree about competent govt. needed…
I’m not suggesting that we have a Somalia scenario.In my life, I don’t think that I have seen a competent US govt.
I remember Watergate, Jimmy Carter years, Reaganomics, Bushes and Clinton.Have never heard any of them encourage responsible fiscal policy. Borrow from tomorrow to create the illusion of prosperity today…
The single root cause of the current global meltdown was 100% home financing being allowed/encouraged/condoned by the US govt, promoting a homeownership society.
Greenspan and low rates was not the problem. Low rates combined with minimum 10% down payment to buy a house would have kept the bubble from inflating.
ALL of the fraud, greed, & incompetence occurred as a direct result of 100% financing being allowed.
We have low interest rates today and no more 100% financing available. There is no bubble inflating today.
The govt will never admit that their incompetence and lack of oversight & ethics allowed this to happen.
Barney Frank et al, have blood on their hands.
FNMA was in bed with the govt. Responsible people now need vaseline to keep from feeling the result.
The 1929 crash and resulting depression was a direct result of the govt allowing the economy to inflate on artifical “wealth” The crash was inevitable. The Roaring 20’s were artificial.
The 2008+ crash was a direct result of the govt allowing the economy to inflate on artificial “weath”. The crash was inevitable.
Recent prosperity was also artificial.It really isn’t complicated. It was good for the economy until it wasn’t good for the economy any more. The govt looked good until they didn’t look good any more.
Today’s global meltdown is far, far from over. The worst is yet to come and it could have all been prevented if only 10% down was required to buy a house after the turn of the century. ..HLS
ParticipantTK,,
You need to brush up on your economic history. Take a look at the Panics of 1837, 1857,1861,1873,1884 1893,1901,1907,1913,1921,1929 and govt intervention.Govt is more concerned about being popular than telling the truth.
If their action doesn’t cause a crisis, then their INaction does, which is what just happened with the housing bubble.
Idiots in govt that pretend to be outraged today are the same fools that stood by and spread the happy talk taking credit for a booming economy, which was nothing more than inflating a bubble.
Govt intervention AFTER the crisis is always the problem, not the solution. It’s a farce.
Govt isn’t the solution, they are often the problem.
Hurricane Katrina, airline security, Wall Street fraud, Housing bubble, job losses etc were all obvious/predictable issues that were left alone until AFTER they became a HUGE problem.
Then the same idiots pretend like they are concerned and are going to prevent it from happening again. It’s too late.
Simple fix to the economy today
1) Abolish credit cards
2) Require 50% down to get a mortgage.People will whine, cry, complain and squeal like pigs until they grow up and accept reality and they they can no longer buy whatever they want, whenever they want.
People will be forced to live within their means.
Business cycles are normal without intervention..
they become distorted with intervention.The illusion of prosperity and wealth is something that very few people want to give up. The govt isn’t helping, and the wrong people are getting blamed for the root cause of the crisis.
ParticipantTK,,
You need to brush up on your economic history. Take a look at the Panics of 1837, 1857,1861,1873,1884 1893,1901,1907,1913,1921,1929 and govt intervention.Govt is more concerned about being popular than telling the truth.
If their action doesn’t cause a crisis, then their INaction does, which is what just happened with the housing bubble.
Idiots in govt that pretend to be outraged today are the same fools that stood by and spread the happy talk taking credit for a booming economy, which was nothing more than inflating a bubble.
Govt intervention AFTER the crisis is always the problem, not the solution. It’s a farce.
Govt isn’t the solution, they are often the problem.
Hurricane Katrina, airline security, Wall Street fraud, Housing bubble, job losses etc were all obvious/predictable issues that were left alone until AFTER they became a HUGE problem.
Then the same idiots pretend like they are concerned and are going to prevent it from happening again. It’s too late.
Simple fix to the economy today
1) Abolish credit cards
2) Require 50% down to get a mortgage.People will whine, cry, complain and squeal like pigs until they grow up and accept reality and they they can no longer buy whatever they want, whenever they want.
People will be forced to live within their means.
Business cycles are normal without intervention..
they become distorted with intervention.The illusion of prosperity and wealth is something that very few people want to give up. The govt isn’t helping, and the wrong people are getting blamed for the root cause of the crisis.
ParticipantTK,,
You need to brush up on your economic history. Take a look at the Panics of 1837, 1857,1861,1873,1884 1893,1901,1907,1913,1921,1929 and govt intervention.Govt is more concerned about being popular than telling the truth.
If their action doesn’t cause a crisis, then their INaction does, which is what just happened with the housing bubble.
Idiots in govt that pretend to be outraged today are the same fools that stood by and spread the happy talk taking credit for a booming economy, which was nothing more than inflating a bubble.
Govt intervention AFTER the crisis is always the problem, not the solution. It’s a farce.
Govt isn’t the solution, they are often the problem.
Hurricane Katrina, airline security, Wall Street fraud, Housing bubble, job losses etc were all obvious/predictable issues that were left alone until AFTER they became a HUGE problem.
Then the same idiots pretend like they are concerned and are going to prevent it from happening again. It’s too late.
Simple fix to the economy today
1) Abolish credit cards
2) Require 50% down to get a mortgage.People will whine, cry, complain and squeal like pigs until they grow up and accept reality and they they can no longer buy whatever they want, whenever they want.
People will be forced to live within their means.
Business cycles are normal without intervention..
they become distorted with intervention.The illusion of prosperity and wealth is something that very few people want to give up. The govt isn’t helping, and the wrong people are getting blamed for the root cause of the crisis.
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