Comments on: Congress Stabs FHA Buyers Heart

By: vizionkc

vizionkc — Sun, 20 Dec 2009 16:38:27 +0000

When I noticed this …
When I noticed this in the bill I could not believe that it was real.

By: INVESTORK

INVESTORK — Sun, 20 Dec 2009 16:38:27 +0000

the new component …
the new component will keep the market sluggish. good news for investors, bad for l/o’s and agents. viva las vegas.

By: OmarThePug

OmarThePug — Sun, 20 Dec 2009 16:38:26 +0000

government is bad.. …
government is bad…but greed has no bounds…a lot of these real estate brokers and lenders/refinancers/adjustors were part of the reason why people were buying houses they couldn’t afford. As long as they got their percent of the pie they couldn’t care less about who was going to get forclosed on.

By: vizionkc

vizionkc — Sun, 20 Dec 2009 16:38:26 +0000

DPA is so huge here …
DPA is so huge here in Missouri Almost every house we sell is sold with FHA with DPA.

By: G2sLapTop

G2sLapTop — Sun, 20 Dec 2009 16:38:25 +0000

Hello AmJohnStone, …
Hello AmJohnStone,

We appreciate your response… Remember… the FHA loan platform was created for folks with less than perfect credit. The mortgage collapse is not in ANY way connected to FHA loans or Down Payment Assistance. Consider this… under the new law a $200,000 home, financed with an FHA loan, will require a $7,000 down payment. More in next comment

By: amjohnstone

amjohnstone — Sun, 20 Dec 2009 16:38:25 +0000

Well, I guess the …
Well, I guess the sellers will just have to lower their prices to be more in line with the market. The buyer should be prepared to purchase with an appropriate down payment (20%+) or that “buyer” really has no business being in the market in the first place!

By: G2sLapTop

G2sLapTop — Sun, 20 Dec 2009 16:38:24 +0000

The argument that …
The argument that DPA programs are the straw that broke the mortgage industries back is absolutely false. FHA DPA loans were less than 1/2 of 1% of all loans being made during the lead up to the mortgage meltdown. The argument is simply a scare tactic spouted by Washington and media pundants.

Just my additional 2 cents… and… of course… all a mute point in as much as the President signed the BILL into law. End of comment. Bye for now Lori & G-II

By: G2sLapTop

G2sLapTop — Sun, 20 Dec 2009 16:38:24 +0000

If the seller …
If the seller reduced the price of the home to $193,000, the required down payment is now $6,755. The bottom line is that the buyer still has to come up with 96.5% of the original $7,000 down payment. The price reduction made by the seller only benefited the buyer’s entry requirement by $245.00. How the heck is that helpful to the buyer… who didn’t have $7,000 dollars for a down payment, let alone $6,755. More in next comment

By: PainesQuest

PainesQuest — Sun, 20 Dec 2009 16:38:23 +0000

There is no …
There is no downpayment.

This program is fraud against the homebuyer and America’s FHA Insurance Fund.

The fund lost an unanticipated $4.6 Billion due to these false downpayment gifts being promoted by greedy Realtors and lenders.

It’s time for the long arm of the law to mete out some justice.

By: PainesQuest

PainesQuest — Sun, 20 Dec 2009 16:38:23 +0000

There is no …
There is no downpayment.

This program is fraud against the homebuyer and America’s FHA Insurance Fund.

The fund lost an unanticipated $4.6 Billion due to these false downpayment gifts being promoted by greedy Realtors and lenders.

It’s time for the long arm of the law to mete out some justice.