Skip to comments.Obama to insist market provides 30-year mortgages
Posted on 08/05/2013 6:35:45 PM PDT by Nachum
President Obama on Tuesday will for the first time insist that any future housing system in the United States makes 30-year mortgages widely available to borrowers, senior administration officials said, preserving a linchpin of the American economy but also continuing to expose taxpayers to risk from another housing meltdown. (Snip) That will require, officials said, some form of government guarantee that means lenders will be reimbursed by taxpayers in the event of a housing catastrophe like the one that occurred several years ago. Traveling to Phoenix on Tuesday, Obama is planning to call for a new
(Excerpt) Read more at washingtonpost.com ...
KEYWORD: INSIST All this d!psh!t does is make orders and break laws - and of course the depends wearing, pants pissing republicans do absolutely NOTHING! Why in the hell are the republicans so afraid of this guy?
Will Business ever just say, “NO”?
How much worse can it get, if we stopped complying with Bracky’s every socialist pipe dream and Marxist imagining.
“...will for the first time insist that any future housing system in the United States makes 30-year mortgages widely available to borrowers...”
And the word that hangs in the air: “...who...
.....aaaand nobama in another executive ooorder granted that during the day there has to be at least 6 hours of daylight
.... and nobama farted, halllleeelllluuuyah
“peoples” wants its apostrophe back. It appears that “wants” stole it when peoples turned away for a brief moment.
“widely available to borrowers”
as far as I understand, 30 year mortgages are now the choice of most mortgage holders/applicants
so what else is meant by “widely available to borrowers”????
If they did away with 30 year mortgages it’s news to me and to Wells Fargo. I refinance my house last year and took out a 30 year mortgage.
Thank God for the grammar police! However when I need or want assistance I turn my children, they are always ready to school old Dad.
This will be the ‘obamaphone’ of housing...
You forgot the "/S", right?
Interest rates are more likely to go up over the next 30 years than stay near zero, which causes the value of the mortgage to drop, and gives he banks (or Fannie/Freddie/FHA) a huge loss.
Canada also didn’t have Dodd,Raines,Frank and CRA.
You also can’t just walk away from a mortgage there.
Remember the rat/rino lexicon: NOT giving a loan to the unqualified is evil and “redlining”.
Giving the unqualified a loan is “predatory lending”.
(”Pwedatowy wending” if you’re Bawney Fwank)
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