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Freddie Mac allows financing of 125% of home value

hypocritexposer

Well-known member
Wednesday, July 1, 2009 | Modified: Thursday, July 2, 2009
Freddie Mac allows financing of 125% of home valueWashington Business Journal - by Bryant Ruiz Switzky Staff Reporter
Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified borrowers.

Fannie Mae also announced a similar change. The moves come as the Obama administration raised the maximum loan-to-value (LTV) ratio from 105 percent.

As a result of this change, qualified borrowers will be able to obtain McLean-based Freddie Mac’s (NYSE:FRE) Relief Refinance Mortgages with loan amounts up to 125 percent of the current value of their property. The higher LTV ratio is expected to give homeowners – especially those in markets that have experienced sharp declines in home values -- more options to refinance into mortgages with terms that better position them for long-term homeownership, the company said.

http://washington.bizjournals.com/washington/stories/2009/06/29/daily58.html
 

Tam

Well-known member
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:
 
A

Anonymous

Guest
Tam said:
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:

Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....
 

hopalong

Well-known member
Oldtimer said:
Tam said:
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:

Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....

Some of us don't have time to set around on a fat a$$ and watch propaganda tv all day like you do!
Some of actually have a life away from the tv and searching the web for some liberal report about the economey and how great obambam is doing leading the nation down the path to destruction!
Do have a life away from the TV????
 

jigs

Well-known member
OT has a very busy life away from the tv and computer...he is often out collecting bribes for his "judicial possition"
 

Red Barn Angus

Well-known member
Just a little different direction but still home ownership....As of July 1 the minimum down payment on a FHA financed home rose from 3.5% to 7%. Hard to see how this is helping first time homebuyers buy a home. The politicians and media all spout their BS but this increase is reality and not mentioned anywhere.
 

Faster horses

Well-known member
You are right, Red Barn Angus, this is something that has not been mentioned on the news. I wonder why?

Some friends whose daughter has wanted to be a doctor all her life and is going to be a Jr in college is looking into financial help...you know...the $2500 that Obama says students parents will receive in tax
incentives for their children attending college? Her folks do not
qualify...and even though she carries 21 credits and has a 4.0 grade
average, the scholarships go to others. She is getting
tired of filling out scholarship forms only to have them go to minorities...
 

hopalong

Well-known member
Red Barn Angus said:
Just a little different direction but still home ownership....As of July 1 the minimum down payment on a FHA financed home rose from 3.5% to 7%. Hard to see how this is helping first time homebuyers buy a home. The politicians and media all spout their BS but this increase is reality and not mentioned anywhere.

But you did not see oldtimer mention that did you? Just another attempt to spin information by oldtimer to make his messiah look good.
Or perhaps he got up off his butt and went to the bathroom when that came on tv :wink: :wink: :wink:
 

Sandhusker

Well-known member
Oldtimer said:
Tam said:
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:

Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....

The reason the home is now 100K instead of 125K is because home prices were inflated! If you get the damn goverment out of the deal, that home never would of hit 125K because it isn't worth that! This is not a win-win, it's pure lunacy, especially considering what we just went through! There never would of been a housing bust had values not been unrealisticly inflated, and now they're inflating them again? Do these flipping idiots ever learn?
 

Tam

Well-known member
Oldtimer said:
Tam said:
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:

Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....

If they don't qualify should they be getting, a loan for 125% or maybe a smaller house that they can afford? Isn't that what got the US into this mess in the first place? Banks being forced by the Dems (in the late 90's pre-Bush) with threats of lawsuits to Lower the qualification so that people that couldn't afford a home could magically afford a house twice the size?

And of course Kola comments on how predictable we are and guess who finds a way of bring Bush into this thread. You Oldtimer are the saddest most predictable person on here. :wink:
 

hypocritexposer

Well-known member
Sandhusker is correct in the bubble that was created, IMO I posted this because it goes back to my point the other day.

the Dems are so busy trying to deflect blame, that they are making the same mistakes again, or are they again helping out the banks.

Another bank bailout, with the home owners re-financing thier losses.
 
A

Anonymous

Guest
Tam said:
Oldtimer said:
Tam said:
By qualified do they mean people getting a welfare or unemployment check from the government? :?

Went will the people at Fanny and Freddy learn their lessons better yet when will Barney Frank and the Dems learn their lessons and stop the stupidity and regulate these idiots? :roll:



How will Oldtimer blame Bush and the Republicans for this one? :wink:

Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....

If they don't qualify should they be getting, a loan for 125% or maybe a smaller house that they can afford? Isn't that what got the US into this mess in the first place? Banks being forced by the Dems (in the late 90's pre-Bush) with threats of lawsuits to Lower the qualification so that people that couldn't afford a home could magically afford a house twice the size?

And of course Kola comments on how predictable we are and guess who fines a way of bring Bush into this thread. You Oldtimer are the saddest most predictable person on here. :wink:


Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified borrowers.

The higher LTV ratio is expected to give homeowners – especially those in markets that have experienced sharp declines in home values -- more options to refinance into mortgages with terms that better position them for long-term homeownership, the company said.

Tam- they already bought the houses, some years ago and some have a lot of equity in them-- but now with the Bush Bust the houses have been devalued- and when the rising rate mortgages kicked couldn't pay for them...

Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

I preferred they gave everyone a chance to have the Banks/courts revalue/negotiate their houses values- like is allowed for multiple owners of houses...But the Repubs killed that bill thinking that while it is alright for folks like John McCain to revalue his 12 houses- it isn't for a single house owner that lives in it.... :roll: :shock: :wink:
 

Tam

Well-known member
Oldtimer said:
Tam said:
Oldtimer said:
Tam- if you'd watched any of the banking hearings you would know that this was one of the proposals of the bankers/financial world as a way to allow people with homes that are greatly devalued because of the Bush Bust to get refinanced- with a longer term more affordable loan....

The house that was valued at $125,000 may now only be valued at $100,000- so if they refinance- the borrower no longer qualifies for a longer term loan...By allowing them to borrow $125,000 it allows them to qualify for 20-30 year loans at much more affordable payments- thus allowing them to keep their home- and keeping the lending institution from repossessing and owning another unmarketable house- further deflating the market value of housing in the US...
A Win-Win for both- and the country....

If they don't qualify should they be getting, a loan for 125% or maybe a smaller house that they can afford? Isn't that what got the US into this mess in the first place? Banks being forced by the Dems (in the late 90's pre-Bush) with threats of lawsuits to Lower the qualification so that people that couldn't afford a home could magically afford a house twice the size?

And of course Kola comments on how predictable we are and guess who fines a way of bring Bush into this thread. You Oldtimer are the saddest most predictable person on here. :wink:


Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified borrowers.

The higher LTV ratio is expected to give homeowners – especially those in markets that have experienced sharp declines in home values -- more options to refinance into mortgages with terms that better position them for long-term homeownership, the company said.

Tam- they already bought the houses, some years ago and some have a lot of equity in them-- but now with the Bush Bust the houses have been devalued- and when the rising rate mortgages kicked couldn't pay for them...

Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

I preferred they gave everyone a chance to have the Banks/courts revalue/negotiate their houses values- like is allowed for multiple owners of houses...But the Repubs killed that bill thinking that while it is alright for folks like John McCain to revalue his 12 houses- it isn't for a single house owner that lives in it.... :roll: :shock: :wink:

Do you have any proof that they did this ILLEGALLY Oldtimer is this just more hatemongering crap you are stirring up because you hate Bush. :wink:
 
A

Anonymous

Guest
Tam said:
Oldtimer said:
Tam said:
If they don't qualify should they be getting, a loan for 125% or maybe a smaller house that they can afford? Isn't that what got the US into this mess in the first place? Banks being forced by the Dems (in the late 90's pre-Bush) with threats of lawsuits to Lower the qualification so that people that couldn't afford a home could magically afford a house twice the size?

And of course Kola comments on how predictable we are and guess who fines a way of bring Bush into this thread. You Oldtimer are the saddest most predictable person on here. :wink:


Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified borrowers.

The higher LTV ratio is expected to give homeowners – especially those in markets that have experienced sharp declines in home values -- more options to refinance into mortgages with terms that better position them for long-term homeownership, the company said.

Tam- they already bought the houses, some years ago and some have a lot of equity in them-- but now with the Bush Bust the houses have been devalued- and when the rising rate mortgages kicked couldn't pay for them...

Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

I preferred they gave everyone a chance to have the Banks/courts revalue/negotiate their houses values- like is allowed for multiple owners of houses...But the Repubs killed that bill thinking that while it is alright for folks like John McCain to revalue his 12 houses- it isn't for a single house owner that lives in it.... :roll: :shock: :wink:

Do you have any proof that they did this ILLEGALLY Oldtimer is this just more hatemongering crap you are stirring up because you hate Bush. :wink:

Been 20 posts on here already about it over the last year or so- and the number of investigations into it by not only Congress but law enforcement...I can't help you if you can't remember things :roll:
 

Sandhusker

Well-known member
Tam- they already bought the houses, some years ago and some have a lot of equity in them-- but now with the Bush Bust the houses have been devalued- and when the rising rate mortgages kicked couldn't pay for them...

The homes haven't been devalued so much as they've come down to where they should of been before you liberal fools decided to screw with banking.

Your scenario doesn't make any sense. If they had a lot of equity in the homes, that would mean that they purchased them some time ago or made a large down payment (unlikely). If so, they would't be in a teaser rate. If they have "a lot of equity", they can simply refiance a sensible mortgage.


Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

It was people like Countrywide doing most of the damage, and the banking committees that are supposed to be overlooking the industry didn't do their jobs because Chris Dodd (D) was taking bribes from them and Barney Frank(D) is so flipping stupid that he didn't think anything was wrong.
 
A

Anonymous

Guest
Sandhusker said:
Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

It was people like Countrywide doing most of the damage, and the banking committees that are supposed to be overlooking the industry didn't do their jobs because Chris Dodd (D) was taking bribes from them and Barney Frank(D) is so flipping stupid that he didn't think anything was wrong.

That dog don't hunt....

Chris and Barney didn't take over as their commitee chairmen or have any more power than any other minority member until 2007- and the damage was already done and most believe we were already entering into or in a recession by then....
I was warning you what was happening long before then- but you and the Bush backslappers chastised me for even questioning the anointed one...

And remember who put all this on fast track from minute one of taking office...

http://www.youtube.com/watch?v=eW9viaJatpo&feature=related

http://www.youtube.com/watch?v=kNqQx7sjoS8&feature=related
 

Tam

Well-known member
Oldtimer said:
Tam said:
Oldtimer said:
Tam- they already bought the houses, some years ago and some have a lot of equity in them-- but now with the Bush Bust the houses have been devalued- and when the rising rate mortgages kicked couldn't pay for them...

Overvaluing houses was going on all the time during the Bush reign-- illegally....By financing groups and real estate folks that were in cahoots with appraisal firms and getting fraudulent appraisals....

I preferred they gave everyone a chance to have the Banks/courts revalue/negotiate their houses values- like is allowed for multiple owners of houses...But the Repubs killed that bill thinking that while it is alright for folks like John McCain to revalue his 12 houses- it isn't for a single house owner that lives in it.... :roll: :shock: :wink:

Do you have any proof that they did this ILLEGALLY Oldtimer is this just more hatemongering crap you are stirring up because you hate Bush. :wink:

Been 20 posts on here already about it over the last year or so- and the number of investigations into it by not only Congress but law enforcement...I can't help you if you can't remember things :roll:

Just wondering did this kind of stuff ever happen during Clinton's rein or is it confined to just the time Bush was in office and stopped when Obama was sworn in?

BTW I can't remember was Bush involved and if so was he charged with anything? Since you have a habit of blaming Bush for anything and everything that happened while he was in Office, are you going to blame Bush for the swindling Biden's greedy son was charged with too since it happened while he was in office?

Your hate of Bush has clouded your ability to make a statement without somehow tying it to Bush. Hint Oldtimer not everything that happened while Bush was in office was directly connected to him. Some people broke the law, including Biden's own son, without Bush or the Republicans knowledge just like people are breaking the law while Obama and the Dems are in office. Are you going to blame Obama for everything that happens while he reins? No you will not as you don't even blame him for the lieing he personally does!!!!!!!! :wink: :roll:
 

Sandhusker

Well-known member
The Liberal Bust came on their watch. Were there big problems before they got their chairs, yes. Did they say anything, recognize any problems, etc... AFTER they got their chairs? NO. Hell, OT, just days before Fannie bit the dirt, Barney was slobbering all over himself saying that there were no poblems! Do you want to dispute that?
 
A

Anonymous

Guest
Sandhusker said:
The Liberal Bust came on their watch. Were there big problems before they got their chairs, yes. Did they say anything, recognize any problems, etc... AFTER they got their chairs? NO. Hell, OT, just days before Fannie bit the dirt, Barney was slobbering all over himself saying that there were no poblems! Do you want to dispute that?

Nope- they were right in the middle of it- and while Bush's regulator was saying nothing was wrong with Fannie and Freddie those two echoed it...
 

Red Barn Angus

Well-known member
Well, I think you can argue what has happened in the past forever and not change a thing. But we are hearing from Zero all he is doing to help homeowners and the housing market. They now have the $8,500 tax credit for first time buyers but then they doubled the down payment required for those same first time buyers. A rather large percentage, I think I read 40%, of the present buyers are first time home buyers. Zero and all his cronies are blowing about what they are doing to help and they just eliminated a large percentage of the first time buyers. How have they helped? They haven't. It's just more lies and half truths coming out of this inept administration.
 
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