Another hosing is coming

[gates]

Lotsa chatter about reducing Freddy and Fannie loans to 4% across the board to stimulate the economy and boost housing values - (wont work in the long run) - of course if you have a loan outside of these GSEs youre S O L! taxpayers will end up holding the bag on this one too - regardless of what Bill Gross says.

Guy on CNBS said private mortgage industry is saying house prices are STILL too high - If I was obummer this would be my Oct surprise -

[Thorack]

Gates,

If have currently have a loan outside of one of the GSE, why am I boned?

Thorack

[TheOtherChris]

Originally posted by Thorack
Gates,

If have currently have a loan outside of one of the GSE, why am I boned?

Thorack

Because dropping the interest rate on those existing GSE owned loans means a loss to the taxpayer......and I am guessing you pay taxes, so, you will get to subsidize the modified GSE loans.

[gates]

That

[juanni]

Originally posted by Thorack
Gates,

If have currently have a loan outside of one of the GSE, why am I boned?

Thorack

Sorry, no 4% for you. :(




...............juanni

[bykerhd]

Thorack, not only will you be subsidizing the 4% for others with your taxes, you will have the privilege of continuing to pay whatever rate you currently have for a mortgage.
Great if you somehow have a loan with a rate under 4%, not so good otherwise.

[Thorack]

Guys,

Thanks for the explianation, I got it now. I thought gates was saying that they were going to limit Fannie and Freddie's precentage of loans in the aggregate to 4% of the US buy selling all the paper to banks. No such luck.

Thorack

[Skilter]

Not that I think this is the right thing to do... but it sure would help me. I am trying to refi, but can't because of how home values have fell and the fact that no one sells their houses in our neighborhood which means I cannot get an accurate appraisal. Oh... that and the fact that I am not behind on my mortgage and pay on time every month. Kinda sucks...

[2barearms]

Did you read the news today? Looks like every things up. Sales are up
Manufacturing is up, Suicides are up, Bankruptcies are up.......

Alice in Obamaland.

[Enquiring Minds]

This fixation on re-BUBBLING the unsustainable levels in the RE market are mind-boggling... I know the douchebags comprising the Nat'l Ass-n of Realtors® don't have THAT strong of a lobby, so it must be simply that both Dems and Reps are in thrall to the Banksters.

At least Obummer can blame OPEC :rolleyes: for the fact that gasoline is at an artificial $3/gal instead of a bear market $1.15/gal...


PS: I am tonight ordering excellent used copies of the works of "genius" from the execrable recent chief economist of the NAR, David "ALWAYS Phucking Wrong" Lereah, incl. his masterwork Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market :eek: This was published in--I AM NOT MAKING THIS UP:

February 2006! HMOG! This guy has held PAID high-ranking positions in the FiRe industries for decades! Greatest conman ever!
-------------------

What an idjit! He published a similar cock up on the eve of the Tech Crash back in late 2000! SCREAMERS!! Pieces of history. I'm sure there were nearly identical "authoritative" books coming out in 1929! Oh, to have and to hold such masterworks... :rolleyes:

[Enquiring Minds]

UPDATE: Just received 'Why the Real Estate Boom Will Not Bust...' PRICELESS!

The testimonial blurbs on the cover alone are worth the $3.99 shipping and fondling! I won't bore you with the text of these endorsements, as it's the WRITERS of them that tells the story:

> one is from David Berson, Chief Economist, FANNIE MAE :biggrin:

> another is from Dewey Daane, former Governor of the Federal Reserve Board of Governors. :uhoh: :devil:

These are the kind of brainiacs in power, who are scorching OUR Earth! HMOG!

[JohnnyV1966]

Originally posted by Enquiring Minds
UPDATE: Just received 'Why the Real Estate Boom Will Not Bust...' PRICELESS!

The testimonial blurbs on the cover alone are worth the $3.99 shipping and fondling! I won't bore you with the text of these endorsements, as it's the WRITERS of them that tells the story:

> one is from David Berson, Chief Economist, FANNIE MAE :biggrin:

> another is from Dewey Daane, former Governor of the Federal Reserve Board of Governors. :uhoh: :devil:

These are the kind of brainiacs in power, who are scorching OUR Earth! HMOG!

Wow I'm surprised your not screaming "It's the Jews fault"

I think we are likely in for a double dip.

Loans which are made to bolster an economy in decline will tend to have a higher rate of failure, particularly over time.

Without treating the underlying causes we are in deep trouble.

[Pistolwiz]

Both Fannie Mae and Freddie Mac are an abhorrence to the constitution. It is not authorized for the fed gov. to do what they do. Quasi governmental or not...not authorized.

We have been lied to for so long and badly that many actually take for granted that they are there.

How do you know how to get out of trouble before you even realize how you got there in the first place?

Here's how I think it needs be fixed. Sooner or later..........

Restore free markets. All of them. No more federal governmental interference in any market. (Things like fraud and such can still be prosecuted under state laws.)

Regulate in the Constitution means to "make regular" not total control.

Open up the NY fed reserve and Ft Knox and get a REAL audit/accounting.

Kill the Fed Reserve. Both FM's and any other non authorized entity attached to or part of the fedgov. Bury them deep. Prosecute and severely punish those that have destroyed the economy.

Prosecute the traitors in sworn offices that have violated the constitution. Top down......Every single one of them.

The only real way to start to restore our economy and our freedoms. The two are not mutually exclusive.

I believe this is all on purpose to take it all for themselves, yes, some folks CAN be THAT greedy! More than enough evidence.......... Is it on purpose? Can that many people be so incompetent, so badly, for so long? I don't think so. Add greed to the formula and this is a no-brainer.

Any time you "REALLY" want to fix the problems with this country..... Look at the constitution and compare to what's really going on.

Start thinking in that paradigm. And all of a sudden it becomes very clear.