Now I am no supporter of Bush, to be sure! BUT I have to say that I feel he has done something good, and I like to praise as well as bash.

Come 2005, all FHA home loans will be ZERO money down as opposed to the 3% total down program we have now. Being that I am in real estate, I am really happy about this.

It really allows a lot more people to get into their own home, which is usually the defining point where someones life goes up or down for the long haul.


Yea for Bush on this one.

Hehehe your going to laugh at me for this one, but I believe he wants people to own a home so that he will get money to fund his nwo plan through taxes.

Once everyone is in their comfy cozy homes, alot of them will destroyed with the homebodies.

My mind wanders.

So, how does this benefit the rich..unless the rich elite now want FHA loans?

I guess this is good. Springer should comment on this.

Though, it's not impossible to buy a home w/ no money down. I recently sold my first house and the person that bought it did it that way. I just jacked up the purchase price, and I believe there was some hoops to jump through on the lenders end. It was win-win. Granted, it wasn't FHA.

Well some people don't have very good credit.

Some people don't have good credit because they have little to no credit (which makes your score low)

I find that recent (or fairly recent) immigrants and college grads are ones who benefit, from my experience in Virginia.

But I’d imagine that some minorities will too.

This is pretty big news in my line of work. I was really shocked because FHA is insured by the government.

Krazy, those are some great observations. And, FHA mortgages, if I am not mistaken, give more wiggle room as far as someone’s income. Meaning, you can make less and borrow more - whereas there is a stricter percentage with other mortgages? This will be a good way for people to get into a home and avoid renting.

Originally posted by KrazyJethro
Now I am no supporter of Bush, to be sure! BUT I have to say that I feel he has done something good

Good? The only good thing he could do is go stand in front of a speeding train!!!

I am glad to see this thread...

FHA (Federal Housing Administration - a Division of HUD Housing and Urban Development) insures the first 38% of these loans against delinquency/foreclosure.

In simple terms that means a Lender (which my company is) can afford to take a greater credit/income risk on a future homeowner IF FHA insures his/her loan because I know I am guarenteed 38% from the insurance policy (known as U.F.M.I.P. - Up Front Mortgage Insurance Premium). This means I can "Quick Sell" a $100,000.00 house on the open market for $62,000.00 and still get my original $100,000.00 back in the event of foreclosure.

This is a WONDERFUL use of Government and the pooling of the many to help the few that has been a RESOUNDING success for well over 40 years.

It is about time FHA realized that zero percent down is a viable program, especially since the V.A. (Veterans' Administration) has been doing it SUCCESSFULLY for over 40 years.

A study I recently read indicated that the single biggest barrier keeping many folks from buying a house is the requirement of saving up the 3% down payment.

While there has been many "work arounds" to this over the years (much like Bob88 described) the law has always required a "minimum investment" by the buyer of 3%. While that 3% can be gift funds from parents or employers it is still a sizeable amount of money for many.

I applaud GWB's efforts to make the American Dream more available to one and all and look forward to funding as many of these loans as possible and assisting thousands of hardworking Americans get into a home OF THEIR OWN...

PEACE...
m...



[Edited on 1-29-2004 by Springer]

This is not deemed good to me Bush is no good so how can he do something good?

Your statement would be a classic example of the difference between OPINION and fact...

PEACE...
m...

I have no problem with Bush Haters,

BUT, drunk has encapsulated the shortsightedness of a lot of people who’d like to see themselves as free thinkers. Note to you, you are not.

For those who can see no good from a situation are not coherent or logical thinkers. Something good comes from everything.

This is a fantastic plan to use the Government to do good things in people’s lives. Anything to further the American Dream is a good thing no matter who it comes from.

Truer words have rarely been typed... I take it form your original post on this thread you are a real estate broker/agent?

A damn fine prfession that requires the work ethic of a coal miner, the brains of a rocket scientist and the patience of Job! SALUTE!

PEACE...
m...

Yeah. It is hard to do. It's a takes money to make money, so starting was hard.

My wife stays home with my two boys, so it's just me.

I'm surprised that someone else sees it that way.

Most people think that we get paid to do a little here a little there.

Nothing serious.

Little do they know.

Originally posted by KrazyJethro
I have no problem with Bush Haters,

BUT, drunk has encapsulated the shortsightedness of a lot of people who’d like to see themselves as free thinkers. Note to you, you are not.

For those who can see no good from a situation are not coherent or logical thinkers. Something good comes from everything.

This is a fantastic plan to use the Government to do good things in people’s lives. Anything to further the American Dream is a good thing no matter who it comes from.

WTF i am free just cos i make a staement about Bush being shyte doesnt mean i aint free.

No, I don't care what you say about Bush, half if it I agree with.

The point is, is that anyone who thinks that things are one way period

i.e.
-The Man is still the master
-Black people are drug users and lazy
-Bush is all bad, he can do nothing good
-Bush is the devil
-Republicans are evil baby-eaters and will lie to de-virginate your 14 year old daughter
-Liberals are out to steal my money and give it to some bum.

and actually believe it, are complete idiots.

There is no other way to say it.

Even if Bush is a lier and a cheater, he still might think that he is doing the right thing in his heart. OR, maybe there is something we don't know, or a bigger picture.

The world is too complicated to boil it down to one line statements to push uninformed propaganda