Talk of The Villages Florida - Mortgages--No more "Mr. Nice Guy"

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Posted by Guest

Gee, I have not seen any mortgage crisis or economic meltdown. I must have missed something.

Yes.

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Posted by Guest

We took a mortgage of our place in the villages. Reason is well several reasons. First the APY was 3.7%-I am getting far more than that on my investments. Perhaps, more important, I expect our government to trash our dollar. To be honest I am still surprised that it did not happen under Obama. Frankly, I am amazed that the fed got away with stuff like quantitative easing-PRINTING MONEY. If, they do trash the American dollar, I will loose a lot but, I will be able throw those government created trash dollars at my mortgage balance.

The mortgage on our previous home was two pages. The mortgage on this place was at least 12. I was a bit surprised for proof that i am who I say I am they would not allow picture ID as they cannot show your race. While, I have more than enough in stock dividends to pay my mortgage the bank insisted on a letter from my brokerage account that they would send me a check out of my investments thus increasing my shown income to qualify for the mortgage. This is the new normal. Fidelity has a form letter for this. It is truly meaningless because you can AND I DID cancel this the day after you get mortgage approval. My brother in law has a 30 year mortgage and will be over 100 by the time he pays a 30 year mortgage.

THE NEW INSANITY

The original insanity was giving women and minorities quotas..trying in vain to equalize them.

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Posted by Guest

Gee, I have not seen any mortgage crisis or economic meltdown. I must have missed something.

They hid it with borrowing and welfare. 50 million on food stamps is a bread line over 9,000 miles long. Millions are living in government housing and section 8. 100 million are "out of the workforce" they've been unemployed for so long.

They've HIDDEN it from you.

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Posted by Guest

RE: Mortgages
While the mortgage rate has gone up a bit it is still at historical lows.
When, mortgage rates are low people can and do spend more for a home. That is simple price inflation.
Personal experience-we bought our previous home that we sold before moving to the villages we bought with a 25 year mortgage at 8.75%. We lived in that house for 40 years and sold it for roughly 6x what we had paid for it. WOW-great except that in those 40 years most everything you buy has gone us the same 6x. Your kids,
might find as we did that they need to live beneath their incomes and SAVE. It seems to be a strange concept in our LIBERAL WORLD. We all have a choice. Either EARN what you want and need or CRY to others.
The concept of let the government pay for it has allowed the LIBERALS to forget. They are the government. Obama ran the government like a credit card fool. The national debt is now TWENTY TRILLION DOLLARS. The share of that debt attached to every man, woman and child in the US is estimated at $85,000. In another source, I read that if we put in a concerted effort to pay of our national debt it will take 40 years. Obama left that unpaid tab on the desk for future presidents to pay back.

SOLUTION-I DO NOT HAVE ONE-DO YOU?

Giving Obama all the credit for the national debt gives the Republicans a pass, they do not deserve it has they have contributed equally to the mess our grandchildren are in. I am not at all an Obama supporter but he walked into a mess left by W. but he choose to deal with it by mortgaging the futures of our grandchildren instead of making some tough but unpopular decisions. His two children will never have to work a day in their lives unless they wish, he forgot about our children.

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Posted by Guest

Well, the SEC under Bush, allowed the Banks and other Wall Street investors to "invest" in high-risk mortgage securities.The answer to lower any further risk of that happening was the Dodd-Frank bill, which was watered down by the Republican congress, and is and has been on the Republican radar to eliminate. So, if that eliminates the solution to the problem, there is a good chance that another mortgage crisis could occur.......stand by for more action by the Republicans to screw things up again....last time the Republicans had majorities in both the House and the Senate and held the White House was just before the Great Depression.....

Are YOU so blind as to blame all the ills of the world, let alone this country on the REPUBLICANS. It is simple to do this if you do not LET FACTS GET IN YOUR WAY.

Your installed OBAMA a democrat has left this country MY COUNTRY with as YOU ILLUSTRATE our population sadly divided in a state of conflict. Obama our first BLACK president was given an opportunity to reduce racial conflict and tension. Instead he CHOSE to fan embers into forest fires. OBAMA HAS DOUBLED THE NATIONAL DEBT-NOW TEN TRILLION DOLLARS AND HE LEFT THIS MONSTROUS DEBT FOR THOSE TO FOLLOW HIM. Hillary has fanned the FEMALES into mass HYSTERIA. They are anti-trump marching with no idea of what they are marching for.
OH. as to blaming the Republicans for the real estate fiasco. DO A BIT OF RESEARCH and you will find the bill that caused SUBPRIME MORTGAGES past under BILL CLINTON.
FOR TRUMP due to his BUSINESS BACKGROUND, IF, YOU WAKE UP, you will see he is looking for solutions. Sadly some DEMOCRATS-such as you are looking for people to BLAME.