Anyone listening to Obamas speech on New Homeowner Proposals?

[Remodeling Maidiac]

My customer has it on the TV and he has mentioned a couple ideas that I like. A few that I don't but no idea is ever perfect.

The 2 ideas that perked my attention were the short simple mortgage form and trying to turn empty foreclosed homes into rentals to help prevent steeper declines in neighborhood values due to abandoned or empty homes.

Dunno if these new proposals are too little to late but I liked some of what I heard.

 

[Remodeling Maidiac]

No one else heard it eh?

 

[Remodeling Maidiac]

I looked up a link and found this. 44 - Politics and policy in Obama's Washington. - The Washington Post

Beyond the 2 ideas I notated I'm not liking what I'm reading. There is a link within the link that goes into more detail. But my biggest complaint, and its a big one, is that he wants more mortgages backed by Freddie and fannie.

If this proposal is submitted to congress as one all or nothing deal its doa as it should be. I simply can't believe he wants to add more underwater mortgages onto the taxpayers backs by backing them federally.

Deja vo 2008 anyone?

Unreal

 

[Warrior102]

No one else heard it eh?

I don't watch Comedy Central.

 

[California Girl]

Haven't listened, but I will.

On the face of it, simplifying the forms etc would be reasonable. Not sure it will help much. Turning empty foreclosed homes is a good one - best left to the private sector and not having the government buying them up.

I'm thinking maybe the banks could help by offering homeowners a part-ownership scheme. Certainly for those facing foreclosure.... the banks could, say, offer to own half the property, which the owner pays rent on, and pays a mortgage to own 50% or whatever of the property. Seems like that could be the basis for a decent way forward for many.

 

[Remodeling Maidiac]

No one else heard it eh?

I don't watch Comedy Central.

Lol

I do like Colbert and Jeff Dunham though.


On topic I find it interesting that he dangles ideas in public he focuses on what people may want to hear but is skimpy on details. Like the 10 billion in new taxes on the banks. Which we all know will be passed to us.

This is nothing more than a ploy to pit republicans against him publicly. Course he will leave out that this won't pass muster in the democrat controlled senate either.

 

[California Girl]

No one else heard it eh?

I don't watch Comedy Central.

I don't think it's fair to just dismiss out of hand everything that the President says.

 

[The Rabbi]

It's more of the same shit he's been pushing for 3 years. If he really wants a solution how about giving the banks immunity over "robo signing" and other faux scandals and let them foreclose and do what they want with the stuff? Free markets work.

 

[Fang]

My customer has it on the TV and he has mentioned a couple ideas that I like. A few that I don't but no idea is ever perfect.

The 2 ideas that perked my attention were the short simple mortgage form and trying to turn empty foreclosed homes into rentals to help prevent steeper declines in neighborhood values due to abandoned or empty homes.

Dunno if these new proposals are too little to late but I liked some of what I heard.

Who gets the money from the rentals?

More importantly, who pays for turning the rentals?

 

[Mr. Shaman]

My customer has it on the TV and he has mentioned a couple ideas that I like. A few that I don't but no idea is ever perfect.

The 2 ideas that perked my attention were the short simple mortgage form.....

.....A HUGE Gold Star, for.....

 

[Remodeling Maidiac]

My customer has it on the TV and he has mentioned a couple ideas that I like. A few that I don't but no idea is ever perfect.

The 2 ideas that perked my attention were the short simple mortgage form and trying to turn empty foreclosed homes into rentals to help prevent steeper declines in neighborhood values due to abandoned or empty homes.

Dunno if these new proposals are too little to late but I liked some of what I heard.

Who gets the money from the rentals?

More importantly, who pays for turning the rentals?

He, as usual, was light on specifics. No further details were offered. None the less if implemented in a proper fashion and not forced upon anyone I like the idea. Abandoned homes KILL entire neighborhood values. It just depends on the specifics of the proposal which I can't find.

 

[CrusaderFrank]

Short simple mortgage from Fannie and Freddie makes sense especially since they were taking No Income No Asset loans

 

[CrusaderFrank]

Obama's Fannie Mae Mortgage Form:

1. How much do you need?

2. Are you sure that all?

3. If we need to reach you where in Mexico should we sent the letter?

4. Can you believe how that Mitt Romney is smearing me already?

 

[Fang]

Obama's Fannie Mae Mortgage Form:

1. How much do you need?

2. Are you sure that all?

3. If we need to reach you where in Mexico should we sent the letter?

4. Can you believe how that Mitt Romney is smearing me already?

It is amazing ain't it?

I remember when I went for my home loan the lender was trying to tell me I qualified for much more than what I wanted. Maybe that was true, but I wanted a loan that based on less money than I was making. The reason is you never know what can happen.

Oh yea, and I love the ARM loans they were trying to sell also. I just don't understand why anyone would ever enter into an agreement where someone else can change your rate. Unless you knew you would sell the house before the initial rate was up of course. But after that you have no control over what someone decides to make your rate. How can anyone plan a budget on that?

 

[The Rabbi]

Obama's Fannie Mae Mortgage Form:

1. How much do you need?

2. Are you sure that all?

3. If we need to reach you where in Mexico should we sent the letter?

4. Can you believe how that Mitt Romney is smearing me already?

No, that's not it at all.

Here's the real deal:

1)How much should the gov't owe you?
2)Do you promise to pay this back?
3) Are you a registered Democrat?