U.S. Homes Lost to Foreclosure Up 25 Percent

[Wild Cobra]

Oh yeah, I agree. I didn't mean requiring a down payment was "a problem". Just that when half of people haven't saved anything it might make it hard for them to buy the house they can't afford, like the good ol days.

And in the good 'ol days, any one with a job could save and buy a house.

[boutons_deux]

FHFA: Banks Should Share Fannie, Freddie Bailout Costs

The nation's largest banks have an obligation to pay some of the cost for bailing out mortgage buyers Fannie Mae and Freddie Mac because they sold them bad mortgages,

the banks this summer have refused to take back $11 billion in bad loans sold to the two government-controlled companies,

Fannie and Freddie have a legal right to return bad loans, especially if they later discover fraudulent statements on applications.

Fitch Ratings said in a report last month that the four largest U.S. banks could book losses of up to $42 billion if Fannie Mae and Freddie Mac force them to take back troubled mortgages they made. It also estimated that JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. could record $17 billion in losses if they repurchase a quarter of the mortgage giants' seriously delinquent loans.

http://www.huffingtonpost.com/2010/0...tml?view=print

[LnGrrrR]

But a 20% dawn payment is traditional. Maybe not requiring that much was a large part of the disaster we now have.

Screw maybe. I'll say it is.

I'll agree there.

[Wild Cobra]

FHFA: Banks Should Share Fannie, Freddie Bailout Costs

The nation's largest banks have an obligation to pay some of the cost for bailing out mortgage buyers Fannie Mae and Freddie Mac because they sold them bad mortgages,

the banks this summer have refused to take back $11 billion in bad loans sold to the two government-controlled companies,

Fannie and Freddie have a legal right to return bad loans, especially if they later discover fraudulent statements on applications.

Fitch Ratings said in a report last month that the four largest U.S. banks could book losses of up to $42 billion if Fannie Mae and Freddie Mac force them to take back troubled mortgages they made. It also estimated that JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. could record $17 billion in losses if they repurchase a quarter of the mortgage giants' seriously delinquent loans.

http://www.huffingtonpost.com/2010/0...tml?view=print

I would have more faith in this if it didn't come from the huff and puff post.

If what you posted is true, there is more at stake than making banks repay. there should be criminal liability and jail sentences for those involved. Fat chance the democrats will let that happen to their banker friends...

[LnGrrrR]

If what you posted is true, there is more at stake than making banks repay. there should be criminal liability and jail sentences for those involved. Fat chance the democrats will let that happen to their banker friends...

You act as if bankers are only friends with Democrats. I'm pretty sure quite a few bankers are friends with both sides of the house.

After all, if Democrats are out to destroy the economy, you'd think bankers would know better than to side with them.

[Winehole23]

The banks parked their ty loans at Fannie and Freddie. Fannie and Freddie sucked them up dutifully.

From August 2007 all the way through 2008, that was arguably their job. Their subprime holdings increased during that period, as if the GSEs were being used deliberately to soften the blow to the market.

[SnakeBoy]

And in the good 'ol days, any one with a job could save and buy a house.

LOL, no I didn't mean those good 'ol days. I meant the good 'ol days when you didn't even need a job to buy a house.

[CosmicCowboy]

It's just more political smoke screen/cover for Fannie and Freddie. THEY are the ones that relaxed the lending standards and didn't require income verification. I blame all of them, but the banks were just playing by the rules Fannie and Freedie wrote for the game.

[Wild Cobra]

LOL, no I didn't mean those good 'ol days. I meant the good 'ol days when you didn't even need a job to buy a house.

Sorry, missed your sarcasm.

[TeyshaBlue]

I would have more faith in this if it didn't come from the huff and puff post.

If what you posted is true, there is more at stake than making banks repay. there should be criminal liability and jail sentences for those involved. Fat chance the democrats will let that happen to their banker friends...

It's an AP article, WC. C'mon man...just think a little bit.

[TeyshaBlue]

The banks parked their ty loans at Fannie and Freddie. Fannie and Freddie sucked them up dutifully.

From August 2007 all the way through 2008, that was arguably their job. Their subprime holdings increased during that period, as if the GSEs were being used deliberately to soften the blow to the market.

No . THe GSE was nothing more than a subprime heat sink.

[TeyshaBlue]

It's an AP article, WC. C'mon man...just think a little bit.

I share a healthy skepticism of Huff Po too...and I've hung them out to dry more than once. However, like the Fox news issue GGA and I rassled over, it's just a reprint of an AP article.

[Wild Cobra]

It's an AP article, WC. C'mon man...just think a little bit.

Maybe it is, this one I didn't check. The link at the bottom of his posting clearly was from the Huffington post.

In this case, I took the post at face value with my own prejudices.

[boutons_deux]

I would have more faith in this if it didn't come from the huff and puff post.

If what you posted is true, there is more at stake than making banks repay. there should be criminal liability and jail sentences for those involved. Fat chance the democrats will let that happen to their banker friends...

you're right, HuffPo rewrites a progressive bias into copyrighted AP articles. I should have known

[Wild Cobra]

you're right, HuffPo rewrites a progressive bias into copyrighted AP articles. I should have known

At least I acknowledge my own bias. Do you?

[TeyshaBlue]

At least I acknowledge my own bias. Do you?

oh, I don't think it's any secret that bouton's has a bias. He'll tell you 100 times a day. I at least respect him for that, even if I think he's often out of his mind.

[boutons_deux]

The Great Boutons has no bias, no prejudice. He looks at the facts and draws laser-sharp conclusions.

Repugs, conservatives, VRWC are assholes.

[Wild Cobra]

The Great Boutons has no bias, no prejudice. He looks at the facts and draws laser-sharp conclusions.

Repugs, conservatives, VRWC are assholes.

LOL....

See what I mean?

[TeyshaBlue]

The Great Boutons has no bias, no prejudice. He looks at the facts and draws laser-sharp conclusions.

Repugs, conservatives, VRWC are assholes.

You're not mighty, boutons, and I really don't have super-powers. No, just sit down and relax. You're as biased as they come and you revel in it. You've admitted it before. Own it, boutons. It's at least honest.


http://www.spurstalk.com/forums/showthread.php?t=161731
I'm not pro-Dem at all, they all suck, but you might have noticed I'm violently anti-Repug.

[Nbadan]

All real estate is regional and some markets were hit by the recession worse than others, for instance, the foreclosure rate in states like Nevada are much higher than in Texas...in San Antonio you can purchase a home for 1/2 to 1/4 the price as on the east or west coast, so prices have less flexibility....I certainly wouldn't go buying a 1/2 to 1 million dollar shack in San Diego when I could purchase a Mansion for the same money in San Antonio...

[boutons_deux]

"but you might have noticed I'm violently anti-Repug"

That's not BIAS. That's a position based on the facts of Repug and conservative strategies that have given us the highest wealth inequality since 1929, increased productivity but flat real incomes, two botched/bogus wars, a slandering, lying VRWC, witch-hunting the Clintons, starving the beast with no benefits, dismantling regulations that would have prevented the housing bubble and financial meltdown, being relentlessly racist, anti-employee, anti-patient, anti-poor/pro-wealthy based on their pro-business BIAS, shutting down the govt, etc, etc ad nauseam, WITH NO OFFSETTING positives.

That's not BIAS. My position is perfectly, justifiably, honestly, openly based on the Repug/conservative record.

And the huge fault everybody here makes is that means I'm equally FOR the Dems and a librul. GFY. The Dems suck, but they aren't anywhere near as outright destructive and bad faith and fundamentally anti-American as Repugs/conservatives.

[TeyshaBlue]

No, that's bias.

[TeyshaBlue]

lol @ honestly.

[BlairForceDejuan]

"but you might have noticed I'm violently anti-Repug"

That's not BIAS. That's a position based on the facts of Repug and conservative strategies that have given us the highest wealth inequality since 1929, increased productivity but flat real incomes, two botched/bogus wars, a slandering, lying VRWC, witch-hunting the Clintons, starving the beast with no benefits, dismantling regulations that would have prevented the housing bubble and financial meltdown, being relentlessly racist, anti-employee, anti-patient, anti-poor/pro-wealthy based on their pro-business BIAS, shutting down the govt, etc, etc ad nauseam, WITH NO OFFSETTING positives.

That's not BIAS. My position is perfectly, justifiably, honestly, openly based on the Repug/conservative record.

And the huge fault everybody here makes is that means I'm equally FOR the Dems and a librul. GFY. The Dems suck, but they aren't anywhere near as outright destructive and bad faith and fundamentally anti-American as Repugs/conservatives.

And yet somehow, many hardworking normal people make a great life out of it all.

Cry more.

[TDMVPDPOY]

its amazing what u can buy now in the states with US$250k-350k compared to what u can get down here with that price mainly 22km away from the cbd living in new estates which becomes ghettos in the future....