The Selling of Home Ownership

iVillage Member
Registered: 03-18-2000
The Selling of Home Ownership
14
Fri, 09-26-2008 - 1:33pm

http://www.youtube.com/watch?v=ecwdBb4gAVI

Photobucket       The WeatherPixie


Photobucket                     Patriot

 


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iVillage Member
Registered: 08-05-2004
Fri, 09-26-2008 - 1:46pm

Looks the like the government had a knowing

iVillage Member
Registered: 10-25-2006
Fri, 09-26-2008 - 1:58pm

Good video. I guess they simplified the home loan process by neglecting to disclose to purchasers the details of how the rates would adjust and how much their payments would increase, and that they'd face huge prepayment penalties if they'd try to finance, huh?

Do you know anyone who got one of those loans on which the rates were adjusted DOWNWARD after a period of consistent payments? I never heard of that happening.

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

iVillage Member
Registered: 03-18-2000
Fri, 09-26-2008 - 2:11pm

"adjusted DOWNWARD after a period of consistent payments?"


That's the problem the interest went up. He probably meant that they could refinance for a lower fixed rate when their credit was established. I'm just guessing though because that's not what he said.


Sad thing is I've heard that many could have qualified for a 30 yr. fixed loans but were sold these variable ones instead.

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iVillage Member
Registered: 07-05-2006
Fri, 09-26-2008 - 2:27pm

Sad thing is I've heard that many could have qualified for a 30 yr. fixed loans but were sold these variable ones instead.


That is exactly what happened to me, except I refused the variable rate loan.

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iVillage Member
Registered: 09-15-2008
Fri, 09-26-2008 - 3:33pm

I was not able to watch the whole video, but the program he was talking about did not appear to be an ARM program.

iVillage Member
Registered: 03-18-2000
Fri, 09-26-2008 - 5:00pm

"I was not able to watch the whole video"


That's too bad.


Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least

 


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iVillage Member
Registered: 09-15-2008
Sun, 09-28-2008 - 5:48pm

"Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least

iVillage Member
Registered: 07-25-2008
Sun, 09-28-2008 - 6:11pm

"Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least

iVillage Member
Registered: 07-03-2008
Sun, 09-28-2008 - 6:17pm
NEVER!!!!!!!!!!!!!!!!!!!!!!!! No more Republicans for me.
iVillage Member
Registered: 07-25-2008
Sun, 09-28-2008 - 8:26pm

How was it predatory?

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