FINALLY!!!!!!

Glad to see Barry finally growing a pair and doing what should have been done a long time ago!!!!

http://www.ksl.com/?nid=1070&sid=17797710&title=obama-offers-mortgage-relief-on-western-trip


A FREAKING MEN!!!!!

r u sure its a government guarantee ?

i really dont know the particulars

lefty

ahhh wrong again . . .this is a program for fannie and freddie participants, so the public is already on the hook for it . . .might as well let them modify and keep the houses, then theres less loss . .

next farcical comment please

lefty

"So let me see if I have this correct. The government is going to FORCE banks to allow folks who are upside down in their mortgages to refinance their mortgages with absolutely no PROVEN means (like say a job) to pay the loan back and thereby shift the debt to the American taxpayers who will bail out the banks on those bad loans when the home owner defaults on the loan."

Educate yourself on the program before spouting conjecture...

NUFF SAID

" The government is going to FORCE banks to allow folks who are upside down in their mortgages to refinance their mortgages with absolutely no PROVEN means (like say a job) to pay the loan back"

Uh Mr. Bob, Yonni has advised that I cool it with my pet names for all of you simple
folk.. I respect Yonni so I will follow his rules as far as calling you simpletons by the names I've used in the past.

The above quote by you, is another of your un-educated tea party (biting my tongue) fantasies. To qualify for the re-fi the homeowner must be current on
their current mortgage as well as pass a credit check.

"Brilliant; absolutely brilliant. Why couldn’t our elected officials in Washington have come up with this simple solution to solve this horrible dilemma for those poor unfortunate folks who lack the desire to take responsibility for their own lives?"

So since a bunch of upstanding capitalists of the highest moral code decided to
move all of the toxic mortgage derivatives, they made money on, from a non
guaranteed entity to a federally insured bank so they would be bailed out,
nothing should be done to help those people that lost equity??? It shouldn't be the govt. helping it should be your corp. criminal buddies you adore.

Mr. Bob I'd respectfully suggest, again, that you educate yourself.

Mr. Bob you do provide much quality comic relief... Thanks!!

Further Education. You must have a Govt. backed loan, not conventional.

So not only, using your simple power of deduction and reason, the un employed that have somehow remained current on their existing mortgage, but also have the ability to remain credit worthy in spite of their lack of employment should be denied???

When you are neck deep in a hole Mr. Bob it would probably be a good idea to put the shovel down, but if you insist on continuing to confirm your ignorance please don't let me stop you.

voiceofreason wrote:

Mr. Bob you do provide much quality comic relief... Thanks!!

Further Education. You must have a Govt. backed loan, not conventional.

So not only, using your simple power of deduction and reason, the un employed that have somehow remained current on their existing mortgage, but also have the ability to remain credit worthy in spite of their lack of employment should be denied???

When you are neck deep in a hole Mr. Bob it would probably be a good idea to put the shovel down, but if you insist on continuing to confirm your ignorance please don't let me stop you.

So it's a way for welfare recipients, illegal aliens and criminals to keep their homes! I get it!

Mr. Bass, I'm pretty sure that Mr. Bob has idiocy handled on this thread.
No sense in making a contest out of it.

voiceofreason wrote:

Mr. Bass, I'm pretty sure that Mr. Bob has idiocy handled on this thread.
No sense in making a contest out of it.

Prove my assertion wrong, treason.

If the welfare receipients, illegal aliens and criminals are current on their existing mortgages and can pass the credit check I guess they would be
qualified. Just like toothless crackers and bazooka toting militia members
would be.

So let me get this straight... I don't get it because I support the changes that would let CREDITWORTHY Americans THAT ARE NOT BEHIND ON THEIR MORTGAGE PAYMENTS refinance to a lower rate???

I understand now... You'd rather these AMERICAN HOMEOWNERS WITH LOANS THAT THEY QUALIFIED FOR ONCE ALREADY AND ARE NOT BEHIND ON remain victims because a bunch of CRIMINAL BANKERS STOLE ANY EQUITY THEY MAY HAVE BUILT UP THROUGH THEIR HARD WORK AND WILLINGNESS TO PAY THEIR BILLS.. WTF was I thinking???

We wouldn't want these AMERICAN HOMEOWNERS to be able to actually SAVE a couple hundred bucks a month... God forbid anybody but your CRIMINAL HERO'S ON WALL STREET get any breaks right???

YONNI, I'm trying really hard here..

Hmmm dubob not sure if I heard your correctly

Your restraint is noticed VOR, keep it up!

Obama signed an Exec order today lowering minimum payments for student loans, effective next year. So the housing market isn't the only thing changes are being made in, just an FYI

https://www.efanniemae.com/sf/mha/mharefi/pdf/refinancefaqs.pdf


Here it is from the horses mouth Mr.Bob... Couldn't find anything about
your cracker fantasy, cash without repayment wet dream.

its just some repooplinut talking point he heard on limboob, hes under orders to spread the echo chamber....

lefty

"

voiceofreason wrote:

https://www.efanniemae.com/sf/mha/mharefi/pdf/refinancefaqs.pdf


Here it is from the horses mouth Mr.Bob... Couldn't find anything about
your cracker fantasy, cash without repayment wet dream.

Directly from your link:

Verification of Employment, Income, Reserves, and Assets
Q18.
Does the lender need to verify the borrower’s employment and income for the loan to be eligible for Refi Plus?
For DU Refi Plus, the lender must obtain a verbal verification of employment (VOE) and verify the borrower’s source of non-employment income, plus obtain any other income documentation as required by the DU Underwriting Findings Report. The lender is relieved of underwriting representations and warranties if the lender meets all of these requirements: enters data that is complete, accurate, and not fraudulent; follows the instructions in the DU Underwriting Findings Report regarding income, employment, asset, and fieldwork documentation; and complies with all other requirements as documented in the Selling Guide.
For Refi Plus (manual underwriting), the lender must verify the borrower’s employment and source of non-employment income, if any. For this option, lenders are required to obtain at least a verbal VOE to verify that borrowers are currently employed and, if applicable, have a verified source of non-employment income. The borrower’s ability to repay the mortgage loan is based primarily on the acceptable payment history of the existing mortgage and the borrower benefit provisions. If a lender verifies income in accordance with the foregoing, Fannie Mae’s quality assurance process will deem lender to have complied with income verification requirements applicable to a Refi Plus loan."

So, WHY IS THERE NO REQUIREMENT FOR A PAY STUB? My bank and credit union REQUIRE several pay stubs and/or a 1040 form prior to opening any loan, much less a home refi. You can't tell me with a straight face that there will not be many applicants (on welfare, dealing drugs/ working under the table, etc...) that give their brother's phone number as a reference for employment verification. Once that sham is in place, as long as the payment history is good, the taxpayer is on the hook for another BAD LOAN. Your blindness, voiceoftreason, is astounding...it really is.

u should not be so concerned with this, along as the payments are made its all good, and wtf are you, a personal savings banking expert? and wtf do u care . . just leave your fellow americans alone finger pointer

i see a racist tinge to this . . i guess these are the people who shouldnt ever have had a house, like the racist bs limboob likes to spread

lefty

Mr Bass do you understand exactly what DU Refi Plus is??? and more importantly
what it does???

Mr. Bob don't run off yet. Stick around peckerwood

lefty wrote:

u should not be so concerned with this, along as the payments are made its all good, and wtf are you, a personal savings banking expert? and wtf do u care . . just leave your fellow americans alone finger pointer

i see a racist tinge to this . . i guess these are the people who shouldnt ever have had a house, like the racist bs limboob likes to spread

lefty

WTF do I care? I'm a taxpayer!
I am very concerned with this because all of those bad loans made during the housing bubble ended up costing US TAXPAYERS $trillions. Now the gov't is going to double down on more bad loans that we will end up getting stuck with as the dollar shrinks and we enter the second dip in this recession depression.

How convenient and lazy, playing the race card. If that's the best you got it proves your vapidity.