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Old 07-27-2011, 02:51 PM
 
11 posts, read 6,181 times
Reputation: 14

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Quote:
Originally Posted by burdell View Post
Are there really no banks lending their own $$$ anymore? I paid a mortgage from 1982-2009 to the very same local bank, no one but that bank ever held the note.
What does that have anything to do with anything? I have a mortgage with BoA and they were like the 4th or 5th bank down the line that bought mine.
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Old 07-27-2011, 02:51 PM
 
Location: Foot of the Rockies
90,297 posts, read 120,759,995 times
Reputation: 35920
Quote:
Originally Posted by lifelongMOgal View Post
Obviously you fail to understand that 90% of the loans in this nation are backed by Fannie/Freddie. Yes Katiana, even those loans on the "open market".
It doesn't matter, lifelongMOgal, what 90% of the loans are backed with. lifelongMOgal, it matters what Bachmann, the big "less government" advocate does. Can't you see that she's a hypocrite, lifelongMOgal? You know, lifelongMOgal, that people on this board talk about how they refused to use some gubmint program, like food stamps, Medicaid, etc, even though they qualified, just for the principal of not taking taxpayers money. What say you to that, lifelongMOgal?
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Old 07-27-2011, 02:51 PM
 
1 posts, read 1,085 times
Reputation: 15
Quote:
Originally Posted by KUchief25 View Post
EXACTLY. What is so wrong with this. Only someone insane would not refi their loan to a lower rate or find anything wrong with doing this.
Right. And only someone insane would oppose the U.S. government having the policy of backing these loans.

That insane person?

Bachmann.
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Old 07-27-2011, 02:52 PM
 
Location: Portland, Oregon
7,085 posts, read 12,055,553 times
Reputation: 4125
Quote:
Originally Posted by lifelongMOgal View Post
Obviously you fail to understand that 90% of the loans in this nation are backed by Fannie/Freddie. Yes Katiana, even those loans on the "open market".
So what you are saying is that you don't understand the difference between the words backed (in case of default by the borrower) and taxpayer subsidized (taxpayers help pay your interest rate).

That's pretty much explains everything. I guess words can mean anything if you don't know the definition in the first place.

This all seems to say a great deal about the people who support her.
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Old 07-27-2011, 02:52 PM
 
29,407 posts, read 22,005,733 times
Reputation: 5455
Quote:
Originally Posted by lifelongMOgal View Post
Obviously you fail to understand that 90% of the loans in this nation are backed by Fannie/Freddie. Yes Katiana, even those loans on the "open market".
It's glaringly obvious these haters will screech at the drop of a hat about Bachmann. They make no sense at all but continue on.
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Old 07-27-2011, 02:52 PM
 
29,981 posts, read 42,934,013 times
Reputation: 12828
Quote:
Originally Posted by burdell View Post
Are there really no banks lending their own $$$ anymore? I paid a mortgage from 1982-2009 to the very same local bank, no one but that bank ever held the note.
That doesn't mean that the loan was not backed by Freddie/Fannie. Not selling the note does not mean a thing anymore. The federal government still backs those securities.
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Old 07-27-2011, 02:52 PM
 
Location: Great State of Texas
86,052 posts, read 84,481,831 times
Reputation: 27720
Quote:
Originally Posted by burdell View Post
Are there really no banks lending their own $$$ anymore? I paid a mortgage from 1982-2009 to the very same local bank, no one but that bank ever held the note.
Credit Unions. I refi'd my loan with my credit union and I still pay the credit union.

But my first loan got sold off to Chase who became JPM who will nickel and dime you to death with fees/charges/etc.

Couldn't get away from them fast enough.
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Old 07-27-2011, 02:54 PM
 
29,407 posts, read 22,005,733 times
Reputation: 5455
Quote:
Originally Posted by bbbb7778 View Post
Right. And only someone insane would oppose the U.S. government having the policy of backing these loans.

That insane person?

Bachmann.
Its obvious you don't understand what fannie and freddie do. Look it up.
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Old 07-27-2011, 02:54 PM
 
9,848 posts, read 8,281,707 times
Reputation: 3296
Quote:
Originally Posted by subsound View Post
Michele "Only I can benefit from these programs" Bachmann is using the programs she hates again.

Bachmann benefited from federal home loan program - The Washington Post
She could hardly not get a loan elsewhere. Almost all home loans are by Freedie May and Freddie Mac in the United States.
What is the issue here?
Where was she to go?
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Old 07-27-2011, 02:55 PM
 
Location: Foot of the Rockies
90,297 posts, read 120,759,995 times
Reputation: 35920
Quote:
Originally Posted by KUchief25 View Post
Where should they go to get their loan?
Maybe the old BCCI. You know, the Bank of Crooks and Criminals that became infamous in 1992?

Bank of Credit and Commerce International - Wikipedia, the free encyclopedia
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