StockFetcher Forums · General Discussion · the-mortgage-market-is-rigged-against-borrowers<< >>Post Follow-up
four
5,087 posts
msg #94400
Ignore four
6/28/2010 8:59:01 PM

the-mortgage-market-is-rigged-against-borrowers

Thoughts...

kahern1014
13 posts
msg #94405
Ignore kahern1014
6/28/2010 10:59:20 PM

Force borrowers to have 20% down before entering the mortgage loan contract. Avoid the PMI altogether.

miketranz
961 posts
msg #94413
Ignore miketranz
6/29/2010 8:53:02 AM

I agree.Put 20-25% down so you have a vested interest in the property.Have a good paying job that can support a mortgage. Have money in the bank in case you lose your job.This was the way it was 15 years ago.Not too many people got into trouble years ago because they can actually "afford" to buy a house.

einok
msg #94422
Ignore einok
6/29/2010 1:49:32 PM

Yeah, but then "EVERYONE" couldn't recognize the American dream :P

duke56468
683 posts
msg #94423
Ignore duke56468
6/29/2010 2:23:16 PM


In a bid to stem taxpayer losses for bad loans guaranteed by
federal housing agencies Fanny Mae and Freddy Mac, Senator Bob
Corker (R-Tenn) proposed that borrowers be required to make a 5%
down payment in order to qualify. His proposal was rejected 57-42
on a party-line vote because, as Senator Chris Dodd (D-Conn)
explained, "passage of such a requirement would restrict home
ownership to only those who can afford it."


heypa
283 posts
msg #94442
Ignore heypa
6/30/2010 10:11:50 AM

Chris Dodd Paraphrased " Requiring a 5% down payment would restrict home
ownership to only those who can afford it."
Now that would be a great quote from one of our finest..

StockFetcher Forums · General Discussion · the-mortgage-market-is-rigged-against-borrowers<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2022 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.