Jacked: Trump Hikes Mortgages With First Move

[Weatherman2020]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

8 years and Obama only initiated the cut in his last couple of days?

Sounds really important. Said no one ever.

 

[Weatherman2020]

No their fees will remain the same......Read

Duh, I did read. Obama's cut will not go into effect. Spin, baby, spin...

Not spin....They never went down ergo there is no added cost

Yep. Obummer had 8 years and never implemented any reduction.

 

[Manonthestreet]

No their fees will remain the same......Read

Duh, I did read. Obama's cut will not go into effect. Spin, baby, spin...

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

 

[Lakhota]

Duh, I did read. Obama's cut will not go into effect. Spin, baby, spin...

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

 

[strollingbones]

so now homeownership is a bad thing?

 

[Weatherman2020]

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

If you were promised a $500 raise on January 27...and your new boss cancels it - what would you call it?

A $2,500 a year savings on my healthcare insurance?

 

[RodISHI]

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

If it were a boss that was using other peoples money to give you that so called raise I would tell you that you are foolish to believe it.

 

[Weatherman2020]

so now homeownership is a bad thing?

 

[Auld Phart]

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

 

[Lakhota]

Apparently Trump hates homeowners.

 

[TheDude]

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

Shucks, I don't believe anyone promised anything. You're fishing. Locate another "cause"

 

[Manonthestreet]

Bad luck.,.........Your semantics gotcha failed ...Thus endeth your thread .....Feel free to talk to yourself for another 600 posts like you normally do

 

[RodISHI]

so now homeownership is a bad thing?

If people are stuck in a shit house with taxes and insurance above what they can afford to live in yes its a bad thing. It is called living within your means.

 

[Lakhota]

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

Shucks, I don't believe anyone promised anything. You're fishing. Locate another "cause"

Shucks, learn to read.

 

[BluesLegend]

Another Lakhota nonsense thread. Working and middle-class Americans are spending 750,000 to 850,000 on their first home? What brand of glue are you huffing?

 

[Weatherman2020]

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

Shucks, I don't believe anyone promised anything. You're fishing. Locate another "cause"

Shucks, learn to read.

Name one person who got the $500 savings, dufus.

 

[Manonthestreet]

so now homeownership is a bad thing?

Would you like another banking crash so you can blame Trump

 

[jon_berzerk]

funny thread

fact

under obama home ownership fell to a five decade low

WOW

The U.S. homeownership rate fell to the lowest in more than 50 years as rising prices put buying out of reach for many renters.

The share of Americans who own their homes was 62.9 percent in the second quarter, the lowest since 1965, according to a Census Bureau report Thursday. It was the second straight quarterly decrease, down from 63.5 percent in the previous three months.


Homeownership Rate in the U.S. Drops to Lowest Since 1965

 

[Lakhota]

funny thread

fact

under obama home ownership fell to a five decade low

WOW

The U.S. homeownership rate fell to the lowest in more than 50 years as rising prices put buying out of reach for many renters.

The share of Americans who own their homes was 62.9 percent in the second quarter, the lowest since 1965, according to a Census Bureau report Thursday. It was the second straight quarterly decrease, down from 63.5 percent in the previous three months.


Homeownership Rate in the U.S. Drops to Lowest Since 1965

No wonder after the housing bubble of the Great Bush Recession.

 

[thereisnospoon]

No their fees will remain the same......Read

Duh, I did read. Obama's cut will not go into effect. Spin, baby, spin...

Why should the taxpayers cover the cost?
BTW, first time buyers are NOT buying $200k homes.