They're Back

[Dana7360]

Remember the NINJA loans of the bush boy years? Remember the sub prime loans?

Remember how the real estate market crashed? Remember people just walking away from their homes? Remember being under water in your home?

Well those loans are back again. No need to prove income. No need for a down payment.

Hold onto your hats. The value of your home is going to crash.

VA Home Loans & Mortgage Refinance for Veterans | NewDay USA

 

[MarathonMike]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

 

[RoshawnMarkwees]

Remember the NINJA loans of the bush boy years? Remember the sub prime loans?

Remember how the real estate market crashed? Remember people just walking away from their homes? Remember being under water in your home?

Well those loans are back again. No need to prove income. No need for a down payment.

Hold onto your hats. The value of your home is going to crash.

VA Home Loans & Mortgage Refinance for Veterans | NewDay USA

View attachment 302228

Well, since you’re so in tune with the market I’m assuming you’ll know better than to bank on your currently inflated assets.

 

[Penelope]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
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Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

 

[CrusaderFrank]

Remember the NINJA loans of the bush boy years? Remember the sub prime loans?

Remember how the real estate market crashed? Remember people just walking away from their homes? Remember being under water in your home?

Well those loans are back again. No need to prove income. No need for a down payment.

Hold onto your hats. The value of your home is going to crash.

VA Home Loans & Mortgage Refinance for Veterans | NewDay USA

View attachment 302228

I'd give all of Southern CA to our military for free. Lets them clean it up and house themselves

 

[Dana7360]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
----------------------------------------------
Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

Exactly. When republicans are in power, very bad things happen because of it.

I can't believe that the same messed up deregulations from the bush boy years are back.

People just don't learn from their mistakes and it really messes things up for everyone.

 

[Billiejeens]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

It's like they live in a totally alternate universe.

Banks - These people cant afford to pay back this loan.
Gov. - Stop looking at their ability to pay back, we need certain people to get loans.
Bank - but all these documents-
Gov - That's it - God damn it.
- Do "no Doc" loans - don't worry about people's ability to pay back - we will insure it.

So, now honest people who could never pay back the loans were given loans, and unscrupulous people also took advantage of the Govt. stupidity.

 

[percysunshine]

If we print enough money, we can pay off all loans....student...home...car...

 

[DigitalDrifter]

If we print enough money, we can pay off all loans....student...home...car...

Sounds good. I'll get my Epson Eco-Tank in high gear !

 

[whitehall]

Remember when democrat Barney Frank took over as chairperson of the House Banking Committee and told us that Fannie Mae was solvent and thriving while it was on the verge of collapse? Democrats are still in charge and they won't go away quietly without trying to ruin the Country while Trump is President.

 

[jknowgood]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
----------------------------------------------
Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

Exactly. When republicans are in power, very bad things happen because of it.

I can't believe that the same messed up deregulations from the bush boy years are back.

People just don't learn from their mistakes and it really messes things up for everyone.

You do know Bush warned of the crash before it happened? Barney Frank laughed at him. Democrats own that debacle.

 

[percysunshine]

Once the government underwrites private debt....hey Merry Christmas!

 

[CarlinAnnArbor]

Remember the NINJA loans of the bush boy years? Remember the sub prime loans?

Remember how the real estate market crashed? Remember people just walking away from their homes? Remember being under water in your home?

Well those loans are back again. No need to prove income. No need for a down payment.

Hold onto your hats. The value of your home is going to crash.

VA Home Loans & Mortgage Refinance for Veterans | NewDay USA

View attachment 302228

You know that started with Bill Clinton and Janet Reno and their threats don't you?

 

[martybegan]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
----------------------------------------------
Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

Exactly. When republicans are in power, very bad things happen because of it.

I can't believe that the same messed up deregulations from the bush boy years are back.

People just don't learn from their mistakes and it really messes things up for everyone.

Sorry, but everyone was to blame for the MBS debacle.

The Banks were making money
The Default Swap insurers were making money
The Real Estate Industry was making money.
People were getting houses beyond their actual means
All levels of government were making tax money off the sales, the incomes, the capital gains, etc
The government got to show that "the common american" was getting their housing dream

It appeared to be too good to be true, and it was.

 

[Shawnee_b]

Remember the NINJA loans of the bush boy years? Remember the sub prime loans?

Remember how the real estate market crashed? Remember people just walking away from their homes? Remember being under water in your home?

Well those loans are back again. No need to prove income. No need for a down payment.

Hold onto your hats. The value of your home is going to crash.

VA Home Loans & Mortgage Refinance for Veterans | NewDay USA

This article is on the VA, VA benefits for Veterans whom have always had help getting a VA mortgage, I got out in 75 and got one. No different than it is now.

Yet you make your claim one VA article is an across the board, NINJA, all lenders loans?

 

[Harry Dresden]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
----------------------------------------------
Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

Exactly. When republicans are in power, very bad things happen because of it.

I can't believe that the same messed up deregulations from the bush boy years are back.

People just don't learn from their mistakes and it really messes things up for everyone.

Exactly. When republicans are in power, very bad things happen because of it.
and of course nothing bad ever happens when democrats are in power....right dana?....

 

[Faun]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Uhh, no....

The Federal Reserve Board has found no connection between CRA and the subprime mortgage problems. In fact, the Board's analysis (102 KB PDF) found that nearly 60 percent of higher-priced loans went to middle- or higher-income borrowers or neighborhoods, which are not the focus of CRA activity. Additionally, about 20 percent of the higher-priced loans that were extended in low- or moderate-income areas, or to low- or moderate-income borrowers, were loans originated by lenders not covered by the CRA. Our analysis found that only six percent of all higher-priced loans were made by CRA-covered lenders to borrowers and neighborhoods targeted by the CRA. Further, our review of loan performance found that rates of serious mortgage delinquency are high in all neighborhood groups, not just in lower-income areas.

FRB: Did the Community Reinvestment Act (CRA) contribute to foreclosures and the financial crisis? And, is the CRA being reformed?​

 

[MeBelle]

You do know Bush warned of the crash before it happened? Barney Frank laughed at him. Democrats own that debacle.

Eight freaking times Bush tried to warn Congress!!

 

[sparky]

Did you forget what actually happened, or are you making stuff up to cover for Clinton? Maybe this snippet will jog your memory:

Here's what really caused the housing crisis. ... “Under Clinton's Housing and Urban Development (HUD) secretary, Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas.

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
Gramm–Leach–Bliley Act - Wikipedia
----------------------------------------------
Once again when the Republicans hold maj in both houses, its not good for the average joe.

Never has republican control been good for the average joe and with a trifecta, its really bad. The higher you go , the further you fall. Now money is so easy for those who want to borrow it, and in the end the rich get richer and the poor, poorer.

the Banksters parrots....

~S~

 

[sparky]

It appeared to be too good to be true, and it was.

~S~