- Goose
- Cogito ergo sum
Offline 
- Registered: 1/29/2015
- Posts: 13,427
Re: It only Took an Hour
The Man wrote:
According to the Consumer Financial Protection Bureau, "Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance." If that is correct, purchasing mortgage insurance isn't so much a reflection of the homebuyer not being able to afford the monthly mortgage payment. My fiancée and I have nowhere near 20% to put down on a home but our ability to make monthly payments is outstanding, so I am sure that within the next year or two we will be in this boat. This directive by the Trump administration will simply make it more difficult to do so - not impossible, as we're capable of making up the difference, but for others it could pose more of an issue. I don't see any connection between mortgage insurance and the housing crisis.
In what way does this move by Trump make it more difficult for you to make monthly payments? This move simply keeps the law the same as it has been. Trump is not making anything more expensive, he's keeping the law the same as it has been.
Perhaps you should read the excellent post by Tennyson, if you are confused.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- The Man
- Exchanger
Offline
- Registered: 3/07/2015
- Posts: 779
Re: It only Took an Hour
According to the Consumer Financial Protection Bureau, "Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance." If that is correct, purchasing mortgage insurance isn't so much a reflection of the homebuyer not being able to afford the monthly mortgage payment. My fiancée and I have nowhere near 20% to put down on a home but our ability to make monthly payments is outstanding, so I am sure that within the next year or two we will be in this boat. This directive by the Trump administration will simply make it more difficult to do so - not impossible, as we're capable of making up the difference, but for others it could pose more of an issue. I don't see any connection between mortgage insurance and the housing crisis.
In what way does this move by Trump make it more difficult for you to make monthly payments? This move simply keeps the law the same as it has been. Trump is not making anything more expensive, he's keeping the law the same as it has been.Perhaps you should read the excellent post by Tennyson, if you are confused.
I'm not confused. This move by Trump doesn't make it more difficult for anyone to afford a mortgage. It keeps the law the same as it has been.
- Goose
- Cogito ergo sum
Offline
- Registered: 1/29/2015
- Posts: 13,427
Re: It only Took an Hour
In what way does this move by Trump make it more difficult for you to make monthly payments? This move simply keeps the law the same as it has been. Trump is not making anything more expensive, he's keeping the law the same as it has been.Perhaps you should read the excellent post by Tennyson, if you are confused.
I'm not confused. This move by Trump doesn't make it more difficult for anyone to afford a mortgage. It keeps the law the same as it has been.
No, you aren't confused. You are just obfuscating.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- •
Thread Starter- The Man
- Exchanger
Offline
- Registered: 3/07/2015
- Posts: 779
Re: It only Took an Hour
Perhaps you should read the excellent post by Tennyson, if you are confused.
I'm not confused. This move by Trump doesn't make it more difficult for anyone to afford a mortgage. It keeps the law the same as it has been.No, you aren't confused. You are just obfuscating.
Not at all. To say that this move by Trump makes it more difficult for people to afford a mortgage is dishonest. It keeps the ability of people to afford a mortgage the same as it has been.
- TheLagerLad
- Exchange Beer Snob
Offline
- From: Bucks County, PA
- Registered: 1/29/2015
- Posts: 2,055
Re: It only Took an Hour
To be honest, it was a fiscally responsible move that will have a fairly minor ripple across a relatively low number of FHA borrowers.
There are much bigger fish to fry already in the administration, such as the Administration's press secretary outright lying to the American people about and wholly inconsequential issue......on his first full day on the job!
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump