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| Trump Administration- Off and running for the middle class https://mail.chicagofanatics.com/viewtopic.php?f=47&t=104594 |
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| Author: | Peoria Matt [ Fri Jan 20, 2017 8:02 pm ] |
| Post subject: | Trump Administration- Off and running for the middle class |
In the first hour of Trump's presidency, the U.S. Department of Housing and Urban Development sent a letter to lenders, real estate brokers and closing agents suspending the 0.25 percentage point premium rate cut for Federal Housing Administration-backed loans. That cut would have saved home buyers about $29 a month on a $200,000 mortgage. But Republicans cast the move as hasty and said it threatened to undermine the stability of the system. So shortly after Trump was sworn in at noon Friday, General Deputy Assistant Secretary for Housing Genger Charles — an Obama administration holdover — announced that HUD would "suspend indefinitely" the rate reduction, saying "more analysis and research are deemed necessary." |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:08 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
The program was aimed at people who did not have enough for a down payment and low income,is the same group that caused the last housing crisis. |
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| Author: | Terry's Peeps [ Fri Jan 20, 2017 8:09 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Fucking poor people. Quit fucking up our America. |
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| Author: | Nas [ Fri Jan 20, 2017 8:10 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Low income buyers definitely caused the housing crisis. |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:11 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Terry's Peeps wrote: Fucking poor people. Quit fucking up our America. Dude, it is the American Dream to own your own home. What happened though to saving up for the down payment? Don't you think we ought to try and prevent another collapse like the last one,or just continue on doing the same and hope for a different outcome? |
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| Author: | lipidquadcab [ Fri Jan 20, 2017 8:16 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
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| Author: | Nas [ Fri Jan 20, 2017 8:18 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
FHA loans weren't the ones being foreclosed on. |
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| Author: | Frank Coztansa [ Fri Jan 20, 2017 8:21 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: What happened though to saving up for the down payment? Yep.So Chas, what percentage of your monthly Government check(s) are you putting aside for your down payment? |
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| Author: | WaitingforRuffcorn [ Fri Jan 20, 2017 8:22 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:27 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. |
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| Author: | Peoria Matt [ Fri Jan 20, 2017 8:28 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: the same group that caused the last housing crisis. There is no way you actually believe this. |
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| Author: | Peoria Matt [ Fri Jan 20, 2017 8:29 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. The loans shouldn't have been given to them in the first place. Problem solved. But that would have really cut down on performance bonuses. |
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| Author: | denisdman [ Fri Jan 20, 2017 8:29 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
I don't think that came from Trump. The private mortgage insurance companies were ones pissed about the mortgage insurance premium cut. It was in today's WSJ. The reinstatement of the full fee will protect taxpayers. Also in today's paper was the massive increase in FHA low credit score loans. Good move by HUD. When their insurance fund gets hit, taxpayers are on the hook. |
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| Author: | denisdman [ Fri Jan 20, 2017 8:30 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Peoria Matt wrote: chaspoppcap wrote: the same group that caused the last housing crisis. There is no way you actually believe this. Low and no down payment loans were the primary driver of the last crisis. Both the dumb lenders and in over their head borrowers were responsible for the crisis. |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:31 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Nas wrote: FHA loans weren't the ones being foreclosed on. FHA backs one out of five loans sems there must have been a few. |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:32 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
denisdman wrote: Peoria Matt wrote: chaspoppcap wrote: the same group that caused the last housing crisis. There is no way you actually believe this. Low and no down payment loans were the primary driver of the last crisis. Both the dumb lenders and in over their head borrowers were responsible for the crisis. You are wrong Denis only the banks where at fault It is true cuz that is what the people on here say so |
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| Author: | Peoria Matt [ Fri Jan 20, 2017 8:32 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
denisdman wrote: I don't think that came from Trump. He's BMOC now. He's the master negotiator....time to put it to work for the little guy. |
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| Author: | Chus [ Fri Jan 20, 2017 8:32 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: denisdman wrote: Peoria Matt wrote: chaspoppcap wrote: the same group that caused the last housing crisis. There is no way you actually believe this. Low and no down payment loans were the primary driver of the last crisis. Both the dumb lenders and in over their head borrowers were responsible for the crisis. You are wrong Denis only the banks where at fault It is true cuz that is what the people on here say so 
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| Author: | Chus [ Fri Jan 20, 2017 8:33 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Peoria Matt wrote: denisdman wrote: I don't think that came from Trump. He's BMOC now. He's the master negotiator....time to put it to work for the little guy. First order of business, and of course, Trump has nothing to do with it. Definitely not his fault. Probably the fault of the liberal media and their fake news. 
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| Author: | Peoria Matt [ Fri Jan 20, 2017 8:33 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: You are wrong Denis only the banks where at fault It is true cuz that is what the people on here say so So if the banks and mortgage lenders would have denied those people their loans, like they should have, would there have been a housing crisis? |
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| Author: | Chus [ Fri Jan 20, 2017 8:35 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Peoria Matt wrote: chaspoppcap wrote: You are wrong Denis only the banks where at fault It is true cuz that is what the people on here say so So if the banks and mortgage lenders would have denied those people their loans, like they should have, would there have been a housing crisis? Why do you hate job creators? The banks put a lot of repo men to work. |
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| Author: | denisdman [ Fri Jan 20, 2017 8:35 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Peoria Matt wrote: denisdman wrote: I don't think that came from Trump. He's BMOC now. He's the master negotiator....time to put it to work for the little guy. The FHA mortgage insurance premium is there to fund defaults because of the low down payment. If you let that fund sink like the last crisis, the taxpayers foot the bill. The premium is in effect a higher interest rate to compensate for not having 20% down. Conventional mortgages have the same thing. FHA is taking borrowers with sub-600 credit scores. They can't get financing elsewhere. |
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| Author: | denisdman [ Fri Jan 20, 2017 8:35 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Peoria Matt wrote: chaspoppcap wrote: You are wrong Denis only the banks where at fault It is true cuz that is what the people on here say so So if the banks and mortgage lenders would have denied those people their loans, like they should have, would there have been a housing crisis? No. For sure. |
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| Author: | Nas [ Fri Jan 20, 2017 8:37 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. They weren't FHA loans. You don't know what you are talking about. |
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| Author: | Nas [ Fri Jan 20, 2017 8:39 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Chus wrote: Peoria Matt wrote: denisdman wrote: I don't think that came from Trump. He's BMOC now. He's the master negotiator....time to put it to work for the little guy. First order of business, and of course, Trump has nothing to do with it. Definitely not his fault. Probably the fault of the liberal media and their fake news. You can't criticize him yet |
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| Author: | chaspoppcap [ Fri Jan 20, 2017 8:44 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Nas wrote: chaspoppcap wrote: WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. They weren't FHA loans. You don't know what you are talking about. Read what Dennis wrote. You obviously only want to denigrate whatever I say. Yo can't admit to me saying something that is factually correct. |
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| Author: | denisdman [ Fri Jan 20, 2017 8:45 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
The FHA mortgage insurance fund required a bailout from Treasury in 2013. It was the first time in its history that the fund went negative in its 80 year history. Conventional borrowers pay a risk based mortgage insurance premium when they put down less than 20%. The same requirements apply to FHA loans. They are low down payment low credit score loans. |
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| Author: | Chus [ Fri Jan 20, 2017 8:46 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: Nas wrote: chaspoppcap wrote: WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. They weren't FHA loans. You don't know what you are talking about. Read what Dennis wrote. You obviously only want to denigrate whatever I say. Yo can't admit to me saying something that is factually correct. Always playing the victim card. Sad. |
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| Author: | Nas [ Fri Jan 20, 2017 8:47 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
chaspoppcap wrote: Nas wrote: chaspoppcap wrote: WaitingforRuffcorn wrote: The housing crisis was caused by the big banks. There was zero incentive to push out shitty loans if they were not being packaged and sold as securities. Blaming greedy poor people for wanting a house is just ridiculous. So you are saying that there where no people who where over there heads involved or who could not afford their mortgage payments? It was the banks taunt to a huge degree but it was also thefsult of people who took the loans knowing the could not afford them in the end. They weren't FHA loans. You don't know what you are talking about. Read what Dennis wrote. You obviously only want to denigrate whatever I say. Yo can't admit to me saying something that is factually correct. Dennis didn't say anything wrong. It was you who tried to blame the last housing crisis on FHA loans when that couldn't be further from the truth. Those loans default at a lower rate than conventional loans. |
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| Author: | BeerFan [ Fri Jan 20, 2017 8:50 pm ] |
| Post subject: | Re: Trump Administration- Off and running for the middle cla |
Nas wrote: Chus wrote: Peoria Matt wrote: denisdman wrote: I don't think that came from Trump. He's BMOC now. He's the master negotiator....time to put it to work for the little guy. First order of business, and of course, Trump has nothing to do with it. Definitely not his fault. Probably the fault of the liberal media and their fake news. You can't criticize him yet Many are saying this.  #amazing #goldenPheasant |
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