• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Economist's Mortagage Solution <lol>

Status
Not open for further replies.

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
The author is president of the National Bureau of Economic Research
and an economics professor at Harvard University.
woohoo woohoo
_____________________________________________________

"I believe the federal government should create a firewall to prevent too great a fall in housing prices."

SUMMARY:
The federal government to offer all homeowners with mortgages the
opportunity to replace 20% of existing mortgage with a federal loan at a
substantially lower interest rate. This would be a full-recourse loan that
would have to be repaid regardless of what happens, and to take priority
over all non-mortgage debt.

(( Unless of course the borrower or some connected lender could prove 'need" that is -- Ayn Rand are you tuning over in your grave yet? ))

LINK
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
The author is president of the National Bureau of Economic Research
and an economics professor at Harvard University.
woohoo woohoo
_____________________________________________________

"I believe the federal government should create a firewall to prevent too great a fall in housing prices."

SUMMARY:
The federal government to offer all homeowners with mortgages the
opportunity to replace 20% of existing mortgage with a federal loan at a
substantially lower interest rate. This would be a full-recourse loan that
would have to be repaid regardless of what happens, and to take priority
over all non-mortgage debt.

(( Unless of course the borrower or some connected lender could prove 'need" that is -- Ayn Rand are you tuning over in your grave yet? ))

LINK

When they are at it, why they want to replace only 15 percent of the loan with FHA and maket the FHA loan subordinate? Why they just replace the whole mortgage with FHA and get over with it?
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
I wonder which lender paid for this "economist" (sounds more like a socialist to me) to come to this conclusion.

I have no problem with prices falling. I guess I'm old fashioned, but I thought a house was a place to make a home, not an ATM.
 

JonGalt

Junior Member
Joined
Aug 4, 2005
Professional Status
Certified Residential Appraiser
State
Illinois
This guy is probably for the Nationalization of Oil companies like those off the wall congresscritters (D) that proposed just that earlier this week.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
When they are at it, why they want to replace only 15 percent of the loan with FHA and maket the FHA loan subordinate? Why they just replace the whole mortgage with FHA and get over with it?

Because being half a$$ed in the Fed's way of doing things.
 

EquianAvante

Freshman Member
Joined
Nov 18, 2007
Professional Status
General Public
State
California
What is so funny? It is exactly like a fed/banking buyout except cutting out the middleman, the bank. Sounds much better for us common folk.
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
When they are at it, why they want to replace only 15 percent of the loan with FHA and maket the FHA loan subordinate? Why they just replace the whole mortgage with FHA and get over with it?
I do believe that is the plan currently before the Senate, is it not? :rof:
 

Metamorphic

Senior Member
Joined
Mar 15, 2008
Professional Status
Certified Residential Appraiser
State
California
My first guess at the untended consequence would be that when a person defaults they immediately join the underground economy so the IRS cant garnish their wages to pay back the loan. As a result tax revenue drops and the remaining tax payers have an even bigger bill to settle than if the government had done nothing at all.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks