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Trump’s AltFacts and AltPriorities

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posted on Jan, 22 2017 @ 01:34 PM
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originally posted by: Tardacus
a reply to: Sillyolme

obamacare is great for people who get subsidies but people who get the subsidies don`t make enough money to buy a house so this $1.37 a day raise in mortgage insurance won`t affect them at all.

For people who can afford to buy a house and don`t get the subsidies obamcare has drastically raised their insurance premiums and deductables.



Not true. We get subsidies and we bought a house prior to the ACA back in 2002 -- most people getting subsidies are middle class, below that they either get expanded medicaid or fall through the giant hole left by NOT implementing expanded medicaid (except for kids who benefit from CHIP).

Subsidies apply up to 400% of the poverty level. You need to make about $97,000 for a family of four per year to not qualify in 2016. On the OTHER side of the law, Congress was supposed to help the market stabilize by providing subsidies to the insurance companies to keep premiums low - they chose NOT to fund this, and the market, which had not anticipated being stiffed, had to adjust their risk management by jumping up their premiums this year.

Below 100% of the poverty level (family of four is around $24K) and you do not qualify for the Marketplace unless Medicaid has been expanded.




posted on Jan, 22 2017 @ 01:37 PM
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a reply to: Mark08

I'm a democrat and I don't get free stuff.
Well sometimes I get BOGO. BUT that's not the same is it?.I mean shoe carnival is nonpartisan isn't it. Lol



posted on Jan, 22 2017 @ 01:45 PM
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originally posted by: Reverbs
a reply to: soficrow

OH and by the way this is only if you Close on a new loan after this goes into effect..

You already signed an FHA loan?

nothing changes.

right or no?

Here is the actual letter:

This is a PDF


I work in mortgage finance. Correct, this only affects new loans with a new FHA case number who are either refinancing or purchasing a home. Current FHA mortgages are not affected. Nothing changes.

The other thing to keep in mind is that FHA for the most part is SUBPRIME mortgage lending right now. There is little to no private subprime mortgage market anymore. FHA primarily insures high risk mortgages - low down payment, sub-par credit scores, and other underwriting issues that make getting a conventional (Fannie/Freddie) mortgage harder for the typical FHA borrower.

As such, the mortgage insurance premiums need to be higher to compensate for the risk of default. FHA defaults are substantially higher than conventional mortgage loans. The MI premiums need to ensure FHA is properly capitalized going forward which is why cutting the premiums are necessarily the best choice right now.

The best thing FHA could do if they wanted to cut the premiums is tighten up underwriting guidelines. Lenders are funding FHA loans with 580 FICO scores right now. A 580 FICO score basically means you are deadbeat and really shouldn't be buying a house.

The problem is that when FHA tightens underwriting you will see the same buck dancing bojangling politicians come out complainign about how minorities and poor people can't get mortgages.

I'd benefit immensely from the premium cut personally (I have a decent number of clients I could refinance to take advantage of lower MI premiums). however, the right thing to do is to leave the MI premium alone right now.

This is more fake news from the left leaving out the whole story...



posted on Jan, 22 2017 @ 01:47 PM
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a reply to: six67seven

Young homeowners who have struggled and done without to save for a home and who may have children they didn't have before they bought their house may feel a bit differently.
They're not rolling in dough but they're making it. Month by month like a lot of people do. And $45.00 May not make a big difference but it could mean no movies or no desserts or maybe no internet. Things that might not be vital but are nice to have. Let's just begrudge them that because they're not super rich.



posted on Jan, 22 2017 @ 01:55 PM
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a reply to: Sillyolme

IT SURE has been ALOT of fun paycheck to paycheck ,working sick or injured because we have to have the money ,BED BUGS in apartment buildings WHAT FUN!
But HEY ,I'm making MORE on disability that I have ALL my life!
THEY'RE EVEN GONNA GIVE ME SSDI!
I bought one house and lost it.
maybe now that the carp is cleared out the economy with change that for the young.
GOD knows I don't WANT ANYONE to live such a life ...and IT too makes me ANGRY.
MOST LIVE worse in other countries because THEY have no voice.
Mine was JUST heard,best listen.



posted on Jan, 22 2017 @ 01:58 PM
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see the biggest problem in america is how they buy things they can't afford through credit and loans, leaving no extra to put in reserve for just in case situations and usually ending up piling debts, and they wonder why their lives are such a struggle.

repealing an executive order that artificially lowers rates thus encouraging irresponsible spending behavior is healthy for proper free market capitalism, it only helps the economy in the long run when people feel pressure for their over spending and overestimation of their wealth.

stop buying what you can't afford people and expensive loans won't leave you broken, only get loans when you can safely pay for it.. really america.



posted on Jan, 22 2017 @ 01:58 PM
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a reply to: Mark08

They killed their own party by trusting a succubus ,and now they want "TAKE BACKS"like children cheating in a PLAYGROUND.



posted on Jan, 22 2017 @ 02:00 PM
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Despite his “commitment” to “ordinary Americans” and America’s middle-class, Trump relies on a cadre of billionaires for advice and policy recommendations. Not one “ordinary American” in sight.


All The President's Billionaires: A Guide To Trump's Gilded Inner Circle

…Here is a running list of every billionaire member of Trump’s inner circle -- from cabinet members to economic advisers and inaugural committee members -- in alphabetical order. Forbes will update it as new information becomes available.




posted on Jan, 22 2017 @ 02:05 PM
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The fact that the Obama administration did not impliment this during his term but waited until the very last minute shows his main objective was to throw a rotten egg at the new administration.

Obama knew The Trump administration would have to prevent this stinker from going into effect immediately and counted on low-info morons to parrot the false "attack on middle class" narrative.



posted on Jan, 22 2017 @ 02:28 PM
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originally posted by: MALBOSIA
a reply to: soficrow

YOUR TELLING ME.... Trump is asking home loaners to put in less than $50/mnth per $200k to help make sure there isn't another trillion dollar bailout needed to cover unpaid mortgages taken by people that couldn't afford them?!?!??

Oh the horror!!! Impeach him!! Impeach him right now!!!



It is yet one more financial burden placed upon the shoulders of an already staggering demographic; by and large the very demographic that put him in office because he promised to listen to them and help them as they are financially falling further and further behind. Even more ironic, we are falling further behind in large part because of this ever increasing pile of "nominal" increases and fees we are required to carry.

He has exploited their desperation and betrayed them. It will only get worse, but his supporters are too busy minimizing and making excuses to see what is happening. Not that most of them ever will. Cognitive dissonance was a qualifying, trait for most Trump supporters.



posted on Jan, 22 2017 @ 02:44 PM
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originally posted by: Edumakated

I work in mortgage finance. Correct, this only affects new loans with a new FHA case number who are either refinancing or purchasing a home. Current FHA mortgages are not affected. Nothing changes.

The other thing to keep in mind is that FHA for the most part is SUBPRIME mortgage lending right now. There is little to no private subprime mortgage market anymore. FHA primarily insures high risk mortgages - low down payment, sub-par credit scores, and other underwriting issues that make getting a conventional (Fannie/Freddie) mortgage harder for the typical FHA borrower.

As such, the mortgage insurance premiums need to be higher to compensate for the risk of default. FHA defaults are substantially higher than conventional mortgage loans. The MI premiums need to ensure FHA is properly capitalized going forward which is why cutting the premiums are necessarily the best choice right now.

The best thing FHA could do if they wanted to cut the premiums is tighten up underwriting guidelines. Lenders are funding FHA loans with 580 FICO scores right now. A 580 FICO score basically means you are deadbeat and really shouldn't be buying a house.

The problem is that when FHA tightens underwriting you will see the same buck dancing bojangling politicians come out complainign about how minorities and poor people can't get mortgages.

I'd benefit immensely from the premium cut personally (I have a decent number of clients I could refinance to take advantage of lower MI premiums). however, the right thing to do is to leave the MI premium alone right now.

This is more fake news from the left leaving out the whole story...



Thank you for your reply.
Everyone read this?

Exactly what I thought.
This is a non story.



posted on Jan, 22 2017 @ 02:52 PM
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originally posted by: soficrow



Despite his “commitment” to “ordinary Americans” and America’s middle-class, Trump relies on a cadre of billionaires for advice and policy recommendations. Not one “ordinary American” in sight.


All The President's Billionaires: A Guide To Trump's Gilded Inner Circle

…Here is a running list of every billionaire member of Trump’s inner circle -- from cabinet members to economic advisers and inaugural committee members -- in alphabetical order. Forbes will update it as new information becomes available.









I don't understand what this is even supposed to be about..

Is it a bad thing that the wealthiest self made woman supports Trump?

or that another one was the governor of utah and son of a billionaire?

half the people they are naming have absolutely nothing to do with Trumps cabinet even though the article tries to imply that if you don't read past the headline lol. They are just people who helped with the inauguration or donated money to his campaign. Some other s are likely picks.

IS it bad he's getting advice from people like Elon Musk?

the owner of marvel and Israeli army vet will advice trump on veterans affairs.. That sounds super evil..


edit on 22-1-2017 by Reverbs because: (no reason given)



posted on Jan, 22 2017 @ 03:02 PM
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originally posted by: redhorse


It is yet one more financial burden placed upon the shoulders of an already staggering demographic; by and large the very demographic that put him in office because he promised to listen to them and help them as they are financially falling further and further behind. Even more ironic, we are falling further behind in large part because of this ever increasing pile of "nominal" increases and fees we are required to carry.

He has exploited their desperation and betrayed them. It will only get worse, but his supporters are too busy minimizing and making excuses to see what is happening. Not that most of them ever will. Cognitive dissonance was a qualifying, trait for most Trump supporters.



LOL.. Please follow along.

this does not affect anyone except NEW home buyers who get a loan through FHA which is basically people who can't really afford a loan, so this INSURANCE payment will be 1.15% or the loan amount instead of .85% of the loan amount paid annually.

If you took out the same loan in 2013 it would have been 1.35% annually.

This is so non news it's ridiculous.



posted on Jan, 22 2017 @ 03:09 PM
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a reply to: redhorse

No, sorry. I don't think that loaners that borrowed more than they can afford were the demographic Trump was pandering to. I think he was listening to the ones that asked for people to pay their share. Insurance isn't free and every tax payer should not be on the hook for bailouts because some people think they can take what they can't afford.

Cognitive dissonance is a fad phrase like "triggered" is lately and using it doesn't add weight to your argument.

You have nice politician talk. Lots of sound bites and a strong sense of urgency. Didn't you get the memo? Nobody gives a shot about politician grand standing anymore which renders your entire little mini soap box speach useless. Get up with the times.



posted on Jan, 22 2017 @ 03:46 PM
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originally posted by: namehere
see the biggest problem in america is how they buy things they can't afford through credit and loans, leaving no extra to put in reserve for just in case situations and usually ending up piling debts, and they wonder why their lives are such a struggle.

repealing an executive order that artificially lowers rates thus encouraging irresponsible spending behavior is healthy for proper free market capitalism, it only helps the economy in the long run when people feel pressure for their over spending and overestimation of their wealth.

stop buying what you can't afford people and expensive loans won't leave you broken, only get loans when you can safely pay for it.. really america.


exactly,
if an extra $1.37 a day is going to cause people financial hardship then they have clearly over extended themselves financially. $1.37 won`t even buy a gallon of gas.
The obamacare insurance premiums are going up by (depending what state you live in) 2% - 116% in 2017

if a $1.37 a day is going to cause financial hardship then the 2017 obamacare increase is going to bankrupt those people.
edit on 22-1-2017 by Tardacus because: (no reason given)



posted on Jan, 22 2017 @ 03:52 PM
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a reply to: Tardacus

but the thing is this does not increase anyone's current loans.

but at least the media have gotten me used to researching everything they say So I am learning a lot of new things.

lol

edit on 22-1-2017 by Reverbs because: (no reason given)



posted on Jan, 22 2017 @ 04:32 PM
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originally posted by: Mark08
a reply to: Sillyolme

Well no I wasn't there. But even today you can still see remnants of people enslaved by the Democratic party. When their free stuff is threatened we see what we see in the streets today.


Back then the Democrats were the Conservatives and The Republicans were the Progressives.



posted on Jan, 22 2017 @ 04:57 PM
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Yup, he sure is looking out for the little people (note sarcasm).

The middle class is going to get screwed at least twice here. First, their mortgage will go up because of this bank handout by Trump and second, Trump will repeal Obamacare and millions of people will be screwed, including right wingers living in the south who need obamacare the most.

Like all reasonable people have been saying, Trump is filling the swamp. Enjoy the swim everyone.


originally posted by: soficrow
I was hoping. I really was. But no.

Middle class screwed in the first hour of Trump Presidency, hit with higher mortgage insurance payments. …What’s next?


How Donald Trump Just Raised Many Mortgage Bills

…Trump, who claimed a populist mantle in his first speech as a president, signed the executive order reversing an Obama-era policy less than an hour after leaving the inaugural stage.

The order will have the immediate effect of increasing the amount that most non-wealthy homeowners must contribute to the Federal Housing Authority’s insurance program. Beginning Jan. 27, most borrowers will now have to pony up six-tenths of a percent of their mortgage each month, up a quarter of a percentage point from last year. Americans with $200,000 mortgages will pay roughly $500 more in 2017 than they did in 2016, according to the FHA.

Trump’s decisionwill have very little affect on wealthier mortgage holders



Trump Reverses Obama's Mortgage Fee Cuts on First Day

…Shares of private mortgage insurance companies, including MGIC Investment Corp. and Radian Group Inc., erased earlier losses, trading up about one percent as of mid-afternoon. They closed little changed from the day before. Private insurers, which back loans guaranteed by mortgage-finance companies Fannie Mae and Freddie Mac, compete with the FHA for market share and have been critics of fee cuts in the past.

…“This action is completely out of alignment with President Trump’s words about having the government work for the people,” said John Taylor, president of the National Community Reinvestment Coalition, through a spokesman. “Exactly how does raising the cost of buying a home help average people?”



Crowd size is THE big national priority, not just penis size. …Related?


Trump Spokesman Accuses Media of False Inaugural Reporting

* Spicer insists that inauguration crowds larger than reported
* Photographs show far fewer people on Mall than Spicer claimed



Photos: the crowd at Donald Trump’s inauguration vs. Barack Obama’s


Anyone have any more AltFacts, AltPriorities?










posted on Jan, 22 2017 @ 05:09 PM
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a reply to: SeekingAlpha

Obviously you have read NONE of the above posts explaing the multitude of ways this is a NON ISSUE.
sheesh!



posted on Jan, 22 2017 @ 05:25 PM
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I thought I coined the term "alt-facts." But no. I guess it's just too obvious.



Scott Koch
‏@sekoch06
First it was alt-right and now we have alt-facts. Can't wait for alt-liberty, alt-justice, and alt-freedom! #alternativefacts




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