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patientrenter
ParticipantI heard there were services that provided you with W-2s etc to “help you out”. Paulson and Bair and others have made it clear they really, really, don’t want the loan servicers to go through the borrowers one by one and actually discover and weed out the ones who committed fraud, or can afford to pay. If Paulson and Bair and a lot of other people in charge of setting and enforcing the rules are showing near-desperation in their efforts to ensure lots and lots of voters will get nice deals in workouts, I don’t think the servicers will be allowed to get too fussy. We’ll see.
Patient renter in OC
ParticipantI heard there were services that provided you with W-2s etc to “help you out”. Paulson and Bair and others have made it clear they really, really, don’t want the loan servicers to go through the borrowers one by one and actually discover and weed out the ones who committed fraud, or can afford to pay. If Paulson and Bair and a lot of other people in charge of setting and enforcing the rules are showing near-desperation in their efforts to ensure lots and lots of voters will get nice deals in workouts, I don’t think the servicers will be allowed to get too fussy. We’ll see.
Patient renter in OC
ParticipantI heard there were services that provided you with W-2s etc to “help you out”. Paulson and Bair and others have made it clear they really, really, don’t want the loan servicers to go through the borrowers one by one and actually discover and weed out the ones who committed fraud, or can afford to pay. If Paulson and Bair and a lot of other people in charge of setting and enforcing the rules are showing near-desperation in their efforts to ensure lots and lots of voters will get nice deals in workouts, I don’t think the servicers will be allowed to get too fussy. We’ll see.
Patient renter in OC
ParticipantMarion, pray give us details so we can look it up.
Patient renter in OC
ParticipantMarion, pray give us details so we can look it up.
Patient renter in OC
ParticipantMarion, pray give us details so we can look it up.
Patient renter in OC
ParticipantMarion, pray give us details so we can look it up.
Patient renter in OC
ParticipantMarion, pray give us details so we can look it up.
Patient renter in OC
ParticipantFannie and Freddie will not fail. They are too big to fail, and everyone knows it.
Their loans may turn out to to be worth hundreds of billions less than what was loaned, but then the govt will step in to save them. Over time, as these two GSEs loaned more and more in overpriced markets, backed by private capital that is a minuscule fraction of the loans, they went from being arguably partly private organizations to almost totally government organizations. Now the private capital they have can absorb only a tiny hiccup in the hyper-inflated bubble market, and the private label is a charade.
Patient renter in OC
ParticipantFannie and Freddie will not fail. They are too big to fail, and everyone knows it.
Their loans may turn out to to be worth hundreds of billions less than what was loaned, but then the govt will step in to save them. Over time, as these two GSEs loaned more and more in overpriced markets, backed by private capital that is a minuscule fraction of the loans, they went from being arguably partly private organizations to almost totally government organizations. Now the private capital they have can absorb only a tiny hiccup in the hyper-inflated bubble market, and the private label is a charade.
Patient renter in OC
ParticipantFannie and Freddie will not fail. They are too big to fail, and everyone knows it.
Their loans may turn out to to be worth hundreds of billions less than what was loaned, but then the govt will step in to save them. Over time, as these two GSEs loaned more and more in overpriced markets, backed by private capital that is a minuscule fraction of the loans, they went from being arguably partly private organizations to almost totally government organizations. Now the private capital they have can absorb only a tiny hiccup in the hyper-inflated bubble market, and the private label is a charade.
Patient renter in OC
ParticipantFannie and Freddie will not fail. They are too big to fail, and everyone knows it.
Their loans may turn out to to be worth hundreds of billions less than what was loaned, but then the govt will step in to save them. Over time, as these two GSEs loaned more and more in overpriced markets, backed by private capital that is a minuscule fraction of the loans, they went from being arguably partly private organizations to almost totally government organizations. Now the private capital they have can absorb only a tiny hiccup in the hyper-inflated bubble market, and the private label is a charade.
Patient renter in OC
ParticipantFannie and Freddie will not fail. They are too big to fail, and everyone knows it.
Their loans may turn out to to be worth hundreds of billions less than what was loaned, but then the govt will step in to save them. Over time, as these two GSEs loaned more and more in overpriced markets, backed by private capital that is a minuscule fraction of the loans, they went from being arguably partly private organizations to almost totally government organizations. Now the private capital they have can absorb only a tiny hiccup in the hyper-inflated bubble market, and the private label is a charade.
Patient renter in OC
ParticipantConcho, you seem to think that the system is rigged so that investors (who lend money to borrowers so they can buy homes) do well out of housing. But investors:
a. Put up almost all the money to buy the house
b. Take on almost all the losses if the price declines
c. Get a return just a tiny amount above the rate on risk-free Treasuries. (Tiny compared to the possible losses.)
d. Take on all the losses if the loan repayments are devalued by inflationMeanwhile borrowers:
1. Put down very little of the money
2. Can walk away if prices go down
3. Keep all the increases if home prices go up
4. Pay a lower rate than on any other loan they could get from any other fre-market source
5. Make out like bandits if inflation is high, because the loan repayments they have to make shrink in real termsHelp me understand how the system is rigged to help investors, and not the borrowers. As far as I can tell, our system of home financing is the biggest govt wealth redistribution system in the world, taking wealth from savers and giving it to people who borrow to buy homes, in truly mind-boggling amounts.
Patient renter in OC
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