[goncnc]

Here's a thought, I noticed that when simple assumptions stopped (where a buyer simply takes over the mortgage payments without credit checks, reassessment of taxes, closing fees etc.) the housing market fell. I bought my first house at 19 years old simple assumption, paid it off all was well. It seems just after that, maybe 10-15 years later, everything fell. Here is a thought someone can't pay their payment transfer to someone who will. Worked then why not now? Or is it that lenders are being greedy about closing cost etc.?

[Buzz123]

Originally Posted by goncnc

Here's a thought, I noticed that when simple assumptions stopped (where a buyer simply takes over the mortgage payments without credit checks, reassessment of taxes, closing fees etc.) the housing market fell. I bought my first house at 19 years old simple assumption, paid it off all was well. It seems just after that, maybe 10-15 years later, everything fell. Here is a thought someone can't pay their payment transfer to someone who will. Worked then why not now? Or is it that lenders are being greedy about closing cost etc.?

I wondered about that too. Or why not roll back the mortgage rate to where it was when they could afford it just so it doesn't go into repo. But then I heard on TV that because of lending laws they aren't allowed to do those things that would make sense. It's up to Congress to change the law. I heard Harry is doing something today but they never do the right thing.