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Fed close to passing Mortgage Relief

Discussion in 'News & Current Events' started by Bobby Hamilton, Feb 9, 2012.

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  1. carpro

    carpro Well-Known Member
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    So what's in it for the millions that sweat blood to pay their mortgages, but always manage to get it done?

    A pitchfork in the eye?
     
    #21 carpro, Feb 13, 2012
  2. carpro

    carpro Well-Known Member
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    Are you saying that the person signing the loan papers didn't know thay couldn't handle the payments? Were they just greedy or stupid?
     
    #22 carpro, Feb 13, 2012
  3. billwald

    billwald New Member

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    Yes, "greedy and stupid" is the new American norm.
     
    #23 billwald, Feb 13, 2012
  4. Bobby Hamilton

    Bobby Hamilton New Member

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    I'm one of those. I feel you.

    I'd love to get a refi though...because I feel that being responsible should lead to every once in a while getting a break.
     
    #24 Bobby Hamilton, Feb 13, 2012
  5. Bobby Hamilton

    Bobby Hamilton New Member

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    Both, actually.

    I knew I could handle my payments, and I can. If I can't refinance it won't break me. I've budgeted for it and I"m good to go. But I'd love to refinance at 2.5% lower, slash my length of term down, and do it without having to put more money down that I already have.

    Sadly, I can't do that because I've been responsible. I can't do that because other people have been irresposible and bought houses they can't afford. And I can't do that because banks approved people and gave out 100% financing to people they never should have.
     
    #25 Bobby Hamilton, Feb 13, 2012
  6. carpro

    carpro Well-Known Member
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    Therein lies the problem. You are being punished for being responsible and banks and mortgage companies should never have bent to the pressure of the federal government to make loans to poor risks, most of which now belong to fannie mae, for which taxpayers are apparently financially responsible.
     
    #26 carpro, Feb 13, 2012
  7. targus

    targus New Member

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    I listened to an interview on NPR this morning while driving.

    It seem that this program will apply to about 5% of mortgage borrowers.

    It will take about a year before they start contacting people by letter...

    Letters that will be sent to the old foreclosed address. :laugh:

    It should be about three years before anyone sees any money.

    In the mean time the same old uninformed and unaware Democrat voters will think that Obama has done something wonderful to help them. :laugh:
     
    #27 targus, Feb 13, 2012
  8. InTheLight

    InTheLight Well-Known Member
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    Typical Democrat outcomes. Their programs don't work, but they have good intentions. That's enough for most sheeple Dem voters.
     
    #28 InTheLight, Feb 13, 2012
  9. Bobby Hamilton

    Bobby Hamilton New Member

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    This particular system is set up to fail in either party system.
     
    #29 Bobby Hamilton, Feb 13, 2012
  10. billwald

    billwald New Member

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    Which system since WW2 hasn't been designed to lengthen the food chain?
     
    #30 billwald, Feb 13, 2012
  11. mont974x4

    mont974x4 New Member

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    I am with you. I just turned in paperwork the other day for a refi. We'll have to see how the appraisal comes out but we are looking at a 15 year mortgage at 2.85%.


    You might want to shop around and see if you have any options.

    We lost some value on the house like most people, but we never had the hyper-inflated prices. It is not a done deal but looks more promising than it did 3 years when I tried last time.
     
    #31 mont974x4, Feb 14, 2012
  12. LadyEagle

    LadyEagle <b>Moderator</b> <img src =/israel.gif>

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    Closing this. Over 3 page limit and several days without a post! Thanks!
     
    #32 LadyEagle, Feb 17, 2012
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