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Well... I would support if banks offered this as a form of relief in hard times... they will still make their money on the loan.. more-so than reselling after a foreclosure...
BUT... I would not support this being govt funded... or banks being forced to make such an offer... govt has no business doing such a thing
Then you support it as it isn't government funded and banks aren't being forced to participate. Rather, they are being given more options in allowing their mortgagees to refinance.
Who is giving the banks more options in allowing mortgagees to refinance?
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
Then you support it as it isn't government funded and banks aren't being forced to participate. Rather, they are being given more options in allowing their mortgagees to refinance.
Who is giving the banks more options in allowing mortgagees to refinance?
From my limited understanding the mortgages that are backed by freddie and fannie are the ones in question. Meaning I presume that freddie and fannie will relax previous agreements?
Who is giving the banks more options in allowing mortgagees to refinance?
From my limited understanding the mortgages that are backed by freddie and fannie are the ones in question. Meaning I presume that freddie and fannie will relax previous agreements?
Home Lending Revamp Planned - WSJ.com
ok i'm going to read about it...thats the right stuff correct?
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
Obamas proposal to help homeowners that are current on their payments yet upside down may have a chance to refinance to the lower rate of 4%. Thus lowering their payments and creating more equity in the long run as well as putting extra cash in their pockets. Assessments are dissalowed and the program is not mandatory. This direct type of stimulus would actually have an impact in the economy as a whole and not just a targeted sector.
I for one think this is a good idea that "could" help our strugling housing market. Kudos
Banks are resistant because it would mean possible loss of expected revenue of 2% or more.
I see no way this voluntary program could be considered the usual govt intrusion. It is an attempt to help not only good honest homeowners but also spark a struggling market. Not only that but this could help many other facets of the housing industry like remodeling or just simply put extra money into a weak economy in other areas through the savings it will provide the consumer.
Now help to disprove the lockstep thought of the left on here that we all care about Obamas failure more than helping the people, by either thanking this post or responding in kind.
PS. Im well aware that many of you will consider this an attempt to buy favor of the population before an election. But regardless of motive the results could be positive as long as Freddie and Fanny are closely watched.
http://www.nytimes.com/2011/08/25/b...k-mortgage-refinancing-for-millions.html?_r=1
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
that might be credible and not wingnuttery if banks didn't have huge profits even without BOA's $5 fee.
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
Which increases their profits 13% more than before D/F.
For example the $5.00/month debit fee as a result of Dodd/Frank?
that might be credible and not wingnuttery if banks didn't have huge profits even without BOA's $5 fee.
Last time I checked, banks are in it to make money.
If I lose my home b/c I cant afford the interest on it, I should have thought of that before getting into it in the 1st place.
I got into my home years ago with a very high interest note. After I established my "credibility" I refinanced it at a lower rate.
I chose to gamble and won so far.
The gov't needs to stop meddling with private industry and worry about getting its own act together damn it.
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
that might be credible and not wingnuttery if banks didn't have huge profits even without BOA's $5 fee.
All these things the gov't is forcing banks to do is costing all of us... the costs are always passed to the consumers.
For example the $5.00/month debit fee as a result of Dodd/Frank?
Which increases their profits LL% more than before D/F.
Pilgrim what do you think of this program?
Exactly how a refinancing plan might work is still under discussion. It is unclear, for example, whether people who are delinquent on their mortgages would be eligible or whether lenders would administer it. Federal officials have consistently overestimated the number of households that would be helped by their various housing assistance programs.
A working group of housing experts across several federal agencies could recommend one or both proposals, or come up with new ones. Or it might decide to do nothing.
Well... I would support if banks offered this as a form of relief in hard times... they will still make their money on the loan.. more-so than reselling after a foreclosure...
BUT... I would not support this being govt funded... or banks being forced to make such an offer... govt has no business doing such a thing
For example the $5.00/month debit fee as a result of Dodd/Frank?
Which increases their profits 13% more than before D/F.
Pilgrim what do you think of this program?
I need to sign up for the WSJ to read more in my own link
I'm still plugging through some of it....so far I dont have anything specific to gripe over but give me time LOL (honestly i will be away from the computer for the next 12 hours or so)
Obamas proposal to help homeowners that are current on their payments yet upside down may have a chance to refinance to the lower rate of 4%. Thus lowering their payments and creating more equity in the long run as well as putting extra cash in their pockets. Assessments are dissalowed and the program is not mandatory. This direct type of stimulus would actually have an impact in the economy as a whole and not just a targeted sector.
I for one think this is a good idea that "could" help our strugling housing market. Kudos
Banks are resistant because it would mean possible loss of expected revenue of 2% or more.
I see no way this voluntary program could be considered the usual govt intrusion. It is an attempt to help not only good honest homeowners but also spark a struggling market. Not only that but this could help many other facets of the housing industry like remodeling or just simply put extra money into a weak economy in other areas through the savings it will provide the consumer.
Now help to disprove the lockstep thought of the left on here that we all care about Obamas failure more than helping the people, by either thanking this post or responding in kind.
PS. Im well aware that many of you will consider this an attempt to buy favor of the population before an election. But regardless of motive the results could be positive as long as Freddie and Fanny are closely watched.
http://www.nytimes.com/2011/08/25/b...k-mortgage-refinancing-for-millions.html?_r=1
