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Old 02-05-2009, 11:46 AM
 
263 posts, read 501,777 times
Reputation: 34

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Fannie Mae to Loosen Rules for Home-Loan Refinancing

Bloomberg.com: Worldwide
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Old 02-05-2009, 11:50 AM
 
1,552 posts, read 4,420,256 times
Reputation: 507
"Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site."



This would be funny if it weren't so sad. When we need to stop appraising houses and reduce documentation requirements, you know it's bad ...
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Old 02-05-2009, 11:54 AM
 
3,859 posts, read 9,858,916 times
Reputation: 2735
I am sure some of these people will be getting their $15,000 as well. Then when they default, the rest of us responsible taxpayers can bail them out-once again.
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Old 02-05-2009, 12:08 PM
 
835 posts, read 1,083,776 times
Reputation: 186
Uh oh 'Monster Move' Coming for Stocks S: Tech Ticker, Yahoo! Finance
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Old 02-05-2009, 12:10 PM
 
Location: 32°19'03.7"N 106°43'55.9"W
8,683 posts, read 19,094,227 times
Reputation: 8507
Quote:
Originally Posted by Lusitan View Post
"Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site."



This would be funny if it weren't so sad. When we need to stop appraising houses and reduce documentation requirements, you know it's bad ...
These measures are in part what got them into trouble in the first place.

I wonder how much longer before people in good standing, those who play by the rules, have paid for housing the conventional way, begin mass push-back against this crap? Or, maybe, the real intent here politically is to put us into a permanent minority, so future election results will be all but guaranteed?
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Old 02-05-2009, 12:14 PM
 
835 posts, read 1,083,776 times
Reputation: 186
Quote:
Originally Posted by mike0421 View Post
These measures are in part what got them into trouble in the first place.

I wonder how much longer before people in good standing, those who play by the rules, have paid for housing the conventional way, begin mass push-back against this crap? Or, maybe, the real intent here politically is to put us into a permanent minority, so future election results will be all but guaranteed?
Are they gonna push back after working all week like dogs just to pay the bills?
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Old 02-05-2009, 12:28 PM
 
2,312 posts, read 7,151,830 times
Reputation: 900
I don't care how anyone else runs their finances! I only care about my own! Hey, the world isn't fair, haven't you figured that out yet? Listen to how stupid we are, we're paying off our mortgage ASAP to simplify our lives. Only a complete moron would do something like that now, isn't that right? Every moron in the financial world has laughed at us for the past 10 years because that's something we've wanted to do. So now we're finally going to do it. Should have done it a long time ago.
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Old 02-05-2009, 02:00 PM
 
Location: New Jersey
2,176 posts, read 4,803,647 times
Reputation: 1741
yeah its my time now to get back all my hard earned tax dollars! i am going to buy a house 5-7x my income, get the 15k tax credit, default almost immediately on my mortgage loan and then eagerly wait for the next round of government bailout while i enjoy a mortgage-free-rent-free living in a large 5 bedroom house in central jersey!

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Old 02-05-2009, 02:02 PM
 
2,312 posts, read 7,151,830 times
Reputation: 900
Now that's what I call working the system and getting what's rightfully yours!
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