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read it again. All he did is reverse Obama's EO from a week ago.
False. Obama did not issue an EO on it. This came from the Department of HUD as a result of the 2016 FHA annual report which came out in mid November. It was done the exact same way and time frame that the reduction in early 2015 took place following the release of the 2014 report in mid November of 14.
Trump signed an Executive Order on Friday that increased FHA mortgages 6/10 of 1%. That's about $500 more in 2017 for a $200,000 mortgage.
This will have no effect on mortgages for wealthy people, since they don't have FHA loans.
The flip side is that the FHA will get increased revenues to pay off those loans, if they default.
If it is true; there has been no media coverage of this, so I doubt there is much to it, but anyway; I can assure you anyone$200,000 dollar mortgage can handle a $500 a year increase. Are you sure this applies to all with FHA loans or loans in the future? Are you familiar with the cut in SS we seniors took this year due to Obama Care?
False. Obama did not issue an EO on it. This came from the Department of HUD as a result of the 2016 FHA annual report which came out in mid November. It was done the exact same way and time frame that the reduction in early 2015 took place following the release of the 2014 report in mid November of 14.
In the hours after he was sworn in, Trump signed an order that stopped a lame-duck step by the Obama administration that would have lowered monthly fees for consumers who buy homes with less than 20% down payments and use a government program operated by the Housing and Urban Development department known as "FHA loans" to insure their mortgages.
In the hours after he was sworn in, Trump signed an order that stopped a lame-duck step by the Obama administration that would have lowered monthly fees for consumers who buy homes with less than 20% down payments and use a government program operated by the Housing and Urban Development department known as "FHA loans" to insure their mortgages.
False. Obama did not issue an EO on it. This came from the Department of HUD as a result of the 2016 FHA annual report which came out in mid November. It was done the exact same way and time frame that the reduction in early 2015 took place following the release of the 2014 report in mid November of 14.
It's not difficult to understand at all. I am certainly not going to default, and I'm not complaining about interest rates or PMI anything else. I am fine with my loan and grateful that I had the opportunity to buy my condo, except I would like a lower rate and no more PMI so I am working on getting to where I can refinance to a 15-year conventional.
How difficult was it for you to understand that I SAID about ten times that the choices I made--marriage, where I lived, where I moved to--were mine and that I owned them? There was no reason for the two of you to keep harping on that. Not everyone's life is like Leave It To Beaver, and some of us had to make hard choices when life didn't turn out like we planned. I don't understand the judgmentalism from some of you as if I'm a criminal for taking an FHA loan, but oh well. It's not within my power to fix anybody else and only God knows what lies ahead for any of you.
Have a good day.
It is your defiance and obstinacy to the fact that I took issue with. From the first post I responded to, your position was that of entitlement, that you deserved it and your entire point from the start was that there are people out there that have no choice and so this is why these loans existed and why they were rightful in demanding them.
I took issue because that claim is a lie. The fact is, there are no justifiable reasons for these loans as they are simply hand outs and each person if "willing" can achieve a conventional loan by simply making the sacrifices to eventually achieve one as was explained by myself and others here.
Now if you simply would have acted with humility in your use of such, nobody would have took issue, but.. your entire position was one that was counter to humility as it argued that such use of a loan was completely justified, not only that, but deserving.. which is the basis for the mentality of "entitlement".
Look, a lot of people have taken the handouts the government offers. Heck, even Trump has benefited from government handouts. Nobody is arguing that you were a bad person because you took advantage of the law, the problem is thinking these laws are just. They are government handouts, government scams that people take advantage of to avoid paying money. Trump admitted such, made no apologies and claimed he did no more than the law allowed. If you had taken such a position, I may have "personally" disagreed (as I do with Trumps use), but I could respect that you were merely using the law.
The problem though was your moralizing your position. That is, you didn't simply say "hey, the law allowed it, so I took advantage" rather you went on to tell me how your life was justified, moralized, rationalized, and reasoned to the result of your decision to use such. The difference is that one position knows that it isn't really "just", the other tries to moralize that it is. One is honest, the other is simply lying.
If it is true; there has been no media coverage of this, so I doubt there is much to it, but anyway; I can assure you anyone$200,000 dollar mortgage can handle a $500 a year increase. Are you sure this applies to all with FHA loans or loans in the future? Are you familiar with the cut in SS we seniors took this year due to Obama Care?
It was only going to apply for future loans so it's no big deal except the resident liberals are making it one.
You'll never hear them complain about anything Obama did including the cut in SS this year because then they'd have to admit that their "great one" did something wrong.
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