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."

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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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

Fucking poor people.

Quit fucking up our America.

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Low income buyers definitely caused the housing crisis.

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Be well

GO BEARS!!!

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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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

FHA loans weren't the ones being foreclosed on.

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Be well

GO BEARS!!!

Yep.

So Chas, what percentage of your monthly Government check(s) are you putting aside for your down payment?

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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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Why are only 14 percent of black CPS 11th-graders proficient in English?

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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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

There is no way you actually believe this.

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.

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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Hawaii (fuck) You

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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Hawaii (fuck) You

FHA backs one out of five loans sems there must have been a few.

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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

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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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

He's BMOC now. He's the master negotiator....time to put it to work for the little guy.

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

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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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

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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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

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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Hawaii (fuck) You

No. For sure.

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Hawaii (fuck) You

They weren't FHA loans. You don't know what you are talking about.

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Be well

GO BEARS!!!

You can't criticize him yet

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Be well

GO BEARS!!!

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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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

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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Hawaii (fuck) You

Always playing the victim card. Sad.

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

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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Be well

GO BEARS!!!

Many are saying this.






#amazing
#goldenPheasant

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Obama's Legacy is Trump.
And dead cops.

"One guy lays the pipe, the other guy smokes it"--Clint Eastwood