The Return of the $1,000 Down Mortgage

catherine at 19:42 2010-08-06 said:

[size=18:6038d8e247]BUTTS IN HOUSES GUYS, BUTTS IN HOUSES 8) 8) [/size:6038d8e247]

took 2 years to be RIGHT ON :roll: , but come on...............they gutted us for reasons like NO MONEY DOWN..............all rules are off the table.............

THEY NEED BUTTS IN HOUSES................. Permalink

Jess Badlybent at 22:20 2010-08-06 said:

Only in America! JUST ANOTHER BANK BAIL-OUT concealed as a consumer entitlement, economic stimulus program. Of course taxpayers are backstopping any losses that Fannie is ultimately guaranteed to experience (duh, what else would you come to expect?). In the meanwhile, by allowing consumers to continue purchasing over-valued property, it protects the banking industry from it's largest pending disaster: DEFLATION. We abandoned the idea of mark-to-market because it would somehow be unfair to let us know how upside-down the bank's balance sheets are. The FED has been doing us the big favor of using our money to buy buckets of, bank issued, toxic debt at face value (because the bank issued and underwritten debt is so solid it is better transferred from their bottom lines to ours). Even with all the aforementioned gracious acts toward the current (and several successive generations of) U.S. population, banks are still grossly over-leveraged (sshhh, don't tell anybody). The last thing the guardians of our precious freedom (from tyranny) will allow is for the banking behemoths to endure is a good poetic dose of deflation to bring us all back toward reality. Permalink

Alexius12 at 23:00 2010-08-06 said:

Funny how they used to blame us Mortgage Brokers for the housing problems. The same people that brought us the 1,000% DTI ratios, low FICO approvals, now completely bankrupted and having BKed the nation and lied to foreign investors, are coming up with this disgusting program.

God bless America, and may so day all crooked politicians rot in hell.

HUD and FHA and similar entities revolt me. Permalink