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POPSHome Buying Basics Despite the Credit Crunch and Sub Prime Mortgage saga you ca s till buy property and make it work for you if you know how.
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POPS YOU JUST GOT SCREWED and Nobody Will tell you! URGENT!! Made the Digg front page in less than 3 hrs. Thank goodness some people still care what is happening in this country! Meanwhile, last year, Freddie Mac paid chairman and CEO Richard Syron nearly $19.8 million in compensation, Fannie Mae pres. and CEO Daniel Mudd recieved $12.2 million, including a $2.2 million bonus!
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POPSVA-Loan.com - #1 Loan for military home buyers VA Loans are the #1 loan for military home buyers. VA-Loan.com provides information and assistance with VA Loans. Get help with VA Certificate, find BAH rates for your military base, or apply for a VA Loan. Active duty, Retired, Guard and Reserve personnel can take advantage of their VA benefits and purchase homes with “0” money down. It’s easy to qualify for a VA home loan because credit scores are not considered..
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POPSDo Your Homework People I don't get this one either. If you're with a mortgage broker and they're offering you a rate of 7.5% on an ARM, why would you just accept it and not reach out to other banks or brokers for better offers? If you went to a car dealership looking for a car and they offered it to you for more than MSRP, would you just say "ok, I guess I have to pay it?" Or would you say "thanks for the offer, I'm going to shop around and see if I can find a better one?" If you'd just take the offer you didn't like, I'm sure there's plenty of salespeople out there who'd love to meet you.
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POPSBeating a Dead Horse I've commented on this topic many times over the past months, so why not give it one more go. There are two groups responsible for the mortgage mess - the individuals who took out exotic mortgages on houses they couldn't afford, and the financial institutions who sold them those mortgages. I understand we can't let the system fail, but I see no reason why my tax dollars have to go towards helping bail these two groups out. They made terrible decisions. All a bill like this does is reinforce stupid behavior, because if we fail, the government will bail us out. If you had your home re-possessed, it's because you couldn't afford it in the first place. If a financial institution is going down because of all the write-downs they've had to take on bad mortgages, it's because their leadership authorized bad decisions. Are there some exceptions to the above - sure there are. But those aren't the situations that this bill is addressing.
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POPSHousing Tax Credit Instead Fan & Fred pass some cheap money to home buyers, but the majority of it goes to banks. Why is the U.S. government subsidizing lenders? Instead, pass along the savings directly to homeowners.
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POPSOur Culture Of Debt "We absorb a way of perceiving the world from parents and neighbors. We mimic the behavior around us. Only at the end of the process is there self-conscious oversight. America once had a culture of thrift. But over the past decades, that unspoken code has been silently eroded."
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POPSObama proposes bankruptcy changes Plus, he added, the mortgage and credit crisis facing the country has seen that "pain trickles up," hurting companies and individuals to reaped the rewards of a questionable decade of banking. "Our economy has gotten out of balance," he said. "The American people don't resent wealth, they want to be rich. America has historically rewarded innovation and accomplishment and free enterprise, and I want to ensure we continue to do that."
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POPSWhy Am I Being Punished for Being Responsible
I understand there's a crisis in the financial sector, and we can't let financial institutions go under due to poor decisions around mortgages. But when I read about legislation that will put borrowers who took out exotic mortgages on houses they couldn't afford, into more affordable loans with a reduced principle, it makes me mad. I was responsible when I got my mortgage. I did my homework, got into a fixed loan on a house I knew I could afford. Could I have done an ARM and gotten a bigger house - sure, but I was responsible and only got into what I could afford. Now, people who weren't responsible are having their mortgages reduced and their rates permanently lowered. Why isn't this available to me? If this is the plan, I say require people to pay back the reduction in principal and interest from any money they make when they sell their house. Otherwise you're just reinforcing bad behavior knowing the gov will save you if you make a stupid decision.
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POPSFBI Investigating IndyMac For Possible Loan Fraud Additionally, two former Bears Stearns managers were indicted last month on conspiracy and securities and wire fraud charges alleging they lied to investors in a hedge fund that tanked last year as the subprime market collapsed. Those charges marked the first criminal charges to arise on Wall Street from the subprime mortgage debacle.
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POPSThe Future of Fannie and Freddie Fannie and Freddie are too big to fail; they own or back nearly half of the nation’s $12 trillion in mortgage debt. In the wake of the housing bust, they are also about the only source of money still available for mortgage lenders. If they do not keep functioning more or less smoothly, the housing downturn will be deeper and longer than it would otherwise be. Housing prices would steepen further, creating more defaults, less consumer spending and lower tax revenues.
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POPSIs Florida the Sunset State? Florida was once a swampy rural backwater, the poorest and emptiest state in the South. But in the 20th century, air-conditioning, bug spray and the miracle of water control helped transform it into a migration destination for the restless masses of Brooklyn and Cleveland, Havana and Port-au-Prince. I am a sixth generation Floridian, but I am told there are more than 4000 new people coming to live here every day.
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POPSUnited First Financial Homeowners with a traditional 30-year mortgage were on track to become mortgage free after only 8 to 11 years.
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POPSUnited First Financial Homeowners with a traditional 30-year mortgage were on track to become mortgage free after only 8 to 11 years.
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