Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Quote:
Originally Posted by EricBoyd View Post
Based on the video clip in the link, her brief explanation of an REO isn’t correct. It isn’t REO until after the property is foreclosed and actually becomes bank-owned property. She said, “That’s what happens when a property goes to foreclosure.” No, Congresswoman, that’s not what happens.
But, yeah, let’s make jokes about a brain surgeon not knowing an acronym.
Quote:
Originally Posted by LifeIsGood01
She was right, she just didn't go into the details.
From WIKI
Real estate owned or REO is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction.
She was NOT right. She said: “That’s what happens when a property goes to foreclosure.” A property does not become a REO property when it goes into foreclosure. A property becomes a REO when it does not sell at foreclosure. If a property goes into foreclosure and sells at the auction, it does NOT become a REO.
If they want to rip someone for being ignorant of financial matters, there is no one better to make fun of than Maxine Waters. She is so clueless that she should never be allowed to hold the positions that she is holding. Of course the OP here will not rip her because they are both on the same side of the political fence.
Dr Carson is one of the great surgeons of all time. He was born into poverty and worked his way up the hard way. He is to be admired by everyone. Now that he is a high level cabinet member, he should be admired even more. She ranted and talked to him like he is a lowlife thug, just like she treats everyone she doesn't like (which is just about everyone). She is the one who is not worthy of holding that office.
without getting partisan, this is included on her wiki:
Quote:
In March 2012, California Attorney General Kamala Harris appointed Porter to be the state's independent monitor of banks in a nationwide $25 billion mortgage settlement. As monitor, she oversaw the banks' implementation of $9.5 billion in settlement reforms for Californians.
so, she already knows (or, should know that is) a helluva lot more about the issue than Ben Carson talking about a very small part of the HUD budget.
I found her assertion laughable that innocent people (her clear reference) had their credit thrashed by foreclosure when perhaps they could have gotten a modification or diversion or short sale (which will also thrash your credit). The borrowers agreed to repay the loans. When the borrowers have only 3.5% in a house, and it turns south quickly (there were a LOT of homes purchased in 2005-2008 that went underwater value-wise.
Quote:
Originally Posted by EricBoyd View Post
Based on the video clip in the link, her brief explanation of an REO isn’t correct. It isn’t REO until after the property is foreclosed and actually becomes bank-owned property. She said, “That’s what happens when a property goes to foreclosure.” No, Congresswoman, that’s not what happens.
But, yeah, let’s make jokes about a brain surgeon not knowing an acronym.
She was NOT right. She said: “That’s what happens when a property goes to foreclosure.” A property does not become a REO property when it goes into foreclosure. A property becomes a REO when it does not sell at foreclosure. If a property goes into foreclosure and sells at the auction, it does NOT become a REO.
If they want to rip someone for being ignorant of financial matters, there is no one better to make fun of than Maxine Waters. She is so clueless that she should never be allowed to hold the positions that she is holding. Of course the OP here will not rip her because they are both on the same side of the political fence.
Dr Carson is one of the great surgeons of all time. He was born into poverty and worked his way up the hard way. He is to be admired by everyone. Now that he is a high level cabinet member, he should be admired even more. She ranted and talked to him like he is a lowlife thug, just like she treats everyone she doesn't like (which is just about everyone). She is the one who is not worthy of holding that office.
The secretary of departments often do not know the details like that, it is not even their job to, that is what the various other appointees and especially the career employees are for.
The owner of my company hardly knows a thing about what I do, not his job. In the Navy, the commanding officer probably knew just a handful of things about my job, again, not his job to.
The secretary of departments often do not know the details like that, it is not even their job to, that is what the various other appointees and especially the career employees are for.
The owner of my company hardly knows a thing about what I do, not his job. In the Navy, the commanding officer probably knew just a handful of things about my job, again, not his job to.
You are splitting hairs, most people who have been on this RE forum for a while and read them or have looked into purchasing a home may be familiar with REO properties. It's not an insider thing. and him not knowing how to do a particular job is not the same as not knowing basic terms that pertain to HUD. That's not a detail it's something basic that he should know. You can defend him but he stepped up his bafoonery by sending the Congresswoman a package of Oreos and actually posing with them and taking a picture.
You are splitting hairs, most people who have been on this RE forum for a while and read them or have looked into purchasing a home may be familiar with REO properties. It's not an insider thing. and him not knowing how to do a particular job is not the same as not knowing basic terms that pertain to HUD. That's not a detail it's something basic that he should know. You can defend him but he stepped up his bafoonery by sending the Congresswoman a package of Oreos and actually posing with them and taking a picture.
There are a thousand terms that pertain to HUD. HUD has a couple dozen agencies under it. He is a political appointee, an administrator of the department. He is a not a career employee nor a political appointee of s specific agency under HUD. Getting all wrapped up that he failed to know some term is ridiculous. It is clearly obvious he knows how to study, read, and memorize numerous things, given he is a doctor, him stumbling on this and harping on it is like Usain Bolt tripping then making some big deal, all forgetting his past experience.
the fact that she was rudely quizzing him showed her intent was to humiliate. It really gets old, doesn't it? Have a little respect for crying out loud. MAGA 2020
There are a thousand terms that pertain to HUD. HUD has a couple dozen agencies under it. He is a political appointee, an administrator of the department. He is a not a career employee nor a political appointee of s specific agency under HUD. Getting all wrapped up that he failed to know some term is ridiculous. It is clearly obvious he knows how to study, read, and memorize numerous things, given he is a doctor, him stumbling on this and harping on it is like Usain Bolt tripping then making some big deal, all forgetting his past experience.
He's not qualified and has no interest in learning even the most basic of terms, Just like the rest of the current cabinet positions they are all wrong and the worst that can be chosen for their appointments. He should want to be familiar with basic terms, instead he makes himself look like a fool.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
