It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Why can't the US governmt arrange lower interest mortgage loans to all homeowners in good standing?

page: 2
7
<< 1   >>

log in

join
share:

posted on Sep, 30 2011 @ 02:04 AM
link   
doubt most who receive an interest cut/plan would even continue paying even the lowered interest-alone on time,

and end up defaulting anyway. its crazy how people waste money on overpriced capital products but when it comes to repaying back loans, credit cards, mortgage and oftentimes even borrowed money from friends or fam, they default indefinately and just hope the collector goes away. thats the way i have seen it, having worked in collection for a bit many yrs ago.

(and they are the ones who agreed to the price and signed their life away, because America's ALL about spending money you don't have and that means not actually ever repaying it)




posted on Sep, 30 2011 @ 02:08 AM
link   

Originally posted by patternfinder
because the gubberment don't arange mortgage rates, that's bernanke's job.....


Well they do and they did.

This is why banks were loaned money by the government - to offer these sorts of loans to people. They sat on the money for as long as they could. They had to roll this low interest home loan program out now. Most banks are taking part and it has been in operation for about 60 days.



posted on Sep, 30 2011 @ 02:14 AM
link   

Originally posted by ignant
doubt most who receive an interest cut/plan would even continue paying even the lowered interest-alone on time,

and end up defaulting anyway. its crazy how people waste money on overpriced capital products but when it comes to repaying back loans, credit cards, mortgage and oftentimes even borrowed money from friends or fam, they default indefinately and just hope the collector goes away. thats the way i have seen it, having worked in collection for a bit many yrs ago.

(and they are the ones who agreed to the price and signed their life away, because America's ALL about spending money you don't have and that means not actually ever repaying it)



This is true and why they make you sign some things and check so thoroughly.


One thing people are finding in some cases...not all but in enough to make it worthwhile...the banks don't even have the proper legal paperwork it takes to foreclose and throw you out.

People fighting foreclosure have found that out.
In transferring and passing bundled up loans from bank to bank they misplaced vital paperwork.Sometimes a good attorney and a bit of luck can get you your house for free.



posted on Sep, 30 2011 @ 07:50 AM
link   
If homeowners were bankers this would be an easy pass. But mortgage laws are complicated and very by state, the logistics of this plan is truely mind boggling.



posted on Sep, 30 2011 @ 08:03 AM
link   

Originally posted by lokdog
If homeowners were bankers this would be an easy pass. But mortgage laws are complicated and very by state, the logistics of this plan is truely mind boggling.


 



Additionally, it would take some numbers crunching to detemine the best path to take,,,,

if an overpriced house is mortgaged at 6% interest VS a modest price house at 8% plus points...
the overpriced house might be the better value in the long run... get out the calculator

how much higher or lower would the interest rate need to be for the buyer/seller/banker to be satisified?
if the price were reduced ~ then the interest would get increased to get the same Return

then why not just create a 50 or 100 year mortgage at the rate of inflation as the final solution

 




Why can't the US governmt arrange lower interest mortgage loans to all homeowners...



because that sounds like central planning, & socialist, communist
edit on 30-9-2011 by St Udio because: (no reason given)



posted on Sep, 30 2011 @ 08:09 AM
link   
reply to post by St Udio
 


And anytime that the people will like the government to help many have been sold the idea that any help from government is socialism, the capitalistic pigs win all the time thanks to propaganda


This help the whores in congress that has been sold a long time ago to big interest over the people's interest, and still many doesn't get it yet and many never will.



posted on Sep, 30 2011 @ 08:31 AM
link   
The interest isn't the problem, the over valued property is.

I bought a house in Tampa Bay in '04 for $130k. When the taxes went up to $2k/year and insurance went up to $2500 we hung a "For Sale" sign and moved to TN in '06.

After paying the mortgage on an empty house plus our current rent for 15 months we moved renters into it. they don't cover the mortgage but it stopped the bleeding.

The property still hasn't sold. The place next door just sold for $44k! There isn't any getting around that kind of discrepancy.

The renters would make the place profitable at the homes current value but we still can't even get a showing...and we certainly can't get the bank to recognize that.
edit on 30-9-2011 by TreadUpon because: dates



new topics

top topics



 
7
<< 1   >>

log in

join