Fannie Mae brings back no-downpayment mortgages

Discussion in 'West Mall' started by BrothaHorn, Aug 6, 2010.

  1. BrothaHorn

    BrothaHorn 1,000+ Posts

    In reply to:


     
  2. Clean

    Clean 5,000+ Posts


     
  3. Oilfield

    Oilfield Guest

    But hey, we just signed comprehensive financial reform. Right? [​IMG]
     
  4. Horn6721

    Horn6721 10,000+ Posts

    This from the article
    "But there are concerns and problems intrinsic to purchasing a home with almost no money down"
    ya think?


    freddie and fannie were not part of the fiance reform. Now we know why

    Seriously WHO can defend this??
    anyone?
     
  5. kgp

    kgp 1,000+ Posts

    Our leaders are asleep at the switch. Or worse.
     
  6. Musburger

    Musburger 500+ Posts

    Unbelievable.
     
  7. ProdigalHorn

    ProdigalHorn 10,000+ Posts


     
  8. PhantomHorn

    PhantomHorn 1,000+ Posts

    They are just trying to reinflate the bubble.
     
  9. hornv

    hornv 100+ Posts

    The next disaster will be so much worse than the one that should have happened already. A case study in how not to intervene.
     
  10. WorsterMan

    WorsterMan SEC here we come!!

    I am in this industry... here we go again [​IMG] Government is determined to put many people in home they cannot afford or have any history of paying for.... so if they don't or can't, the good old Amercan Taxpayer will step in again like they have in the past to bail out FM / FM or the industry. After all, government good intentions are more important that fiscal responsibility and common sense [​IMG]
     
  11. Namewithheld

    Namewithheld 2,500+ Posts

    I also heard that the Great One--BHO, may try to "forgive" all upside down mortgages prior to the election in November! [​IMG]

    So much for being financially viable and sound!
     
  12. AustinBat

    AustinBat 2,500+ Posts

    We're going to Hell in a handbasket. And someone on another thread said "the bailout avoided a financial disaster." Really? Worse that this kind of crap? That is what we were told. That along with avoiding huge unemployment numbers. Jeez..
     
  13. MaduroUTMB

    MaduroUTMB 2,500+ Posts


     
  14. msdw24

    msdw24 1,000+ Posts

    I'm shocked that none of the left wingers on here have come and defended this action by Fannie.

    While we're at it, why don't we bring back all the subprime loans as well, lest we be called racist for not wanting to lend to someone with crappy credit.
     
  15. majorwhiteapples

    majorwhiteapples 5,000+ Posts

    Ole Barney and Maxine have to be behind this........
     
  16. hornpharmd

    hornpharmd 5,000+ Posts

    Fannie/Freddie buying up bad mortgages and basically subsidizing any risk the lenders had is what caused this mess. I don't think anybody with any real sense would defend them.
     
  17. Namewithheld

    Namewithheld 2,500+ Posts


     
  18. Clean

    Clean 5,000+ Posts


     
  19. Horn6721

    Horn6721 10,000+ Posts

    Pharm
    glad to see you have some sense on this isse.

    but Good Lord where is Congress, I know the House was gone but Nancy isn't muzzled and the Seante was there last wekk.

    How can anyone with any sense let this policy stand? Did Boxer , just like she did back in 06, declare freddie and fannie wonderfully managed and with no problems?

    I will be calling my elected Pols to find out how this policy can exist.
     
  20. hornpharmd

    hornpharmd 5,000+ Posts


     
  21. Satchel

    Satchel 2,500+ Posts


     
  22. AustinBat

    AustinBat 2,500+ Posts


     
  23. ProdigalHorn

    ProdigalHorn 10,000+ Posts

    Why would they call him a racist?
     
  24. msdw24

    msdw24 1,000+ Posts


     
  25. texascoder

    texascoder 1,000+ Posts

    It doesn't take a rocket science to figure out why this program is being trotted out now. The President's approval ratings are in the shitter, and most of the Dem Congressmen are bracing for a huge voter backlash in November. So... it must be time to buy some votes. It will be interesting to see what other scams are attempted by the crooks between now and November to try to hold onto power.
     
  26. Horn6721

    Horn6721 10,000+ Posts

    pharm
    Actually my post to you was not a back handed compliment. it was an acknowledgement of our typically different views.

    I do have an agenda, it is to try to stop Obama and others from making decisions that are taking our country on a path to ruin. This is IMO another attempt.

    This is the first time I have noticed you agreeing that something this Admin/ Congress has done is a bad decision.

    I appreciate your civility. Disagreeing with one doesn't make the one an idiot.
     
  27. bullzak

    bullzak 500+ Posts

    its just an awkward attempt to keep power.

    Give the mouse the cheese now, because after the election everybody dies, including the mouse.

    Add skyrocketing taxes to persistent unemployment and a huge housing backlog and unprecedented government debt and somebody please tell me how this is good for the economy.

    Solving a debt bubble with more debt cannot work.
     
  28. Bevo Incognito

    Bevo Incognito 5,000+ Posts


     
  29. hornpharmd

    hornpharmd 5,000+ Posts


     
  30. HousHorn09

    HousHorn09 2,500+ Posts


     

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