I guess we learned absolutely nothing from the financial crisis of 2008 and are setting ourselves up for the financial crisis of 2018
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damn dude, if i wanted an atom count of each fiber in that paper i would have talked to ma nigga jerry.

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I've been hearing adds from some lender on the radio for a couple of months now also offering $0 down mortgages.

I suppose there should be a place for these kinds of loans, but those who choose to make them ought to be forced to "play with their own money". Two simple solutions would help. The first would be to prohibit the sale of these loans for 5 years to insure there was equity in the homes before the loans hit the secondary market. The second would be to force insured entities that choose to make these loans to do so through uninsured subsidiaries.

Hey, a lot of people got rich off that misery.

Why not do it again?

When I first got into the real estate market, 20% down was standard. Then it became 10%, then 5%, then nothing. Anyone could have foreseen what happened five years ago.

Damn I finna go get me a home now den, i called a realtor and dey got a good deal on a 1br condo in Centerville for 395k. I finna get rich once it be worth 800k.

shenaynay from McD's Wrote:
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> Damn I finna go get me a home now den, i called a
> realtor and dey got a good deal on a 1br condo in
> Centerville for 395k. I finna get rich once it be
> worth 800k.

"...once it be wurf 800k."

Bill.N. Wrote:
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> I've been hearing adds from some lender on the
> radio for a couple of months now also offering $0
> down mortgages.
>
> I suppose there should be a place for these kinds
> of loans, but those who choose to make them ought
> to be forced to "play with their own money". Two
> simple solutions would help. The first would be
> to prohibit the sale of these loans for 5 years to
> insure there was equity in the homes before the
> loans hit the secondary market. The second would
> be to force insured entities that choose to make
> these loans to do so through uninsured
> subsidiaries.

No theres really no place for these loans at all.

0 percent down encourages people to get homes they cant afford since they dont have to put anything down for it and just have to pay monthly forever. Banks like them because they want some people to default its free money to them where they can then resell the house for the same price in good markets.

When too many people default at once you get what we just went through. Its a cycle that will repeat itself over and over and over as long as those loans exist.

If you have the money to pay the mortgage you have the money to save for a couple years to be able to put down a down payment which lowers the monthly payment making it less likely youll default.

You also need only 1 year after bankruptcy/foreclosure to qualify for a home loan now. It used to be 7.

The real estate guru Jack McCabe says this cycle has two more years before it crashes. A lot of the supply eventually has to come to market. They started the 5 year bulk foreclosure sales to rent schemes at the start of 2012. The leading edge of that supply should become available in 2017.

Spell checker Wrote:
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> shenaynay from McD's Wrote:
> --------------------------------------------------
> -----
> > Damn I finna go get me a home now den, i called
> a
> > realtor and dey got a good deal on a 1br condo
> in
> > Centerville for 395k. I finna get rich once it
> be
> > worth 800k.
>
> "...once it be wurf 800k."

Tru tru dis damn iphone wid da white pple autoe corect joint. I dun jus got of da phone wit my realtor and he sayin dat it will be wurf 800k in less den 2 years now dat gatta be a buy of da century all thx to obama, he amazin