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Surging Mortgage Rates Set Off Scramble to Buy Homes

i'm glad i got my mortgage last year. well, i mean, as glad as you can be about having a mortgage.
 
tres borrachos said:
Wow. I can't believe you posted this. Seriously.

I make my living in the financial services industry. I work internationally on the imposition, impact, and adherence to regulations that impact banks, credit unions, and non-bank lenders. I don't think I've ever seen a post that is so wrong.
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So when the government forced lending institutions to hand out no income verification loans was there, in your opinion, a handshake deal made so that when the market crashed (as it did) that the government would not only give the banks a bailout, but would force others to close shop, narrowing the pool of lenders?
 
Helix said:
i'm glad i got my mortgage last year. well, i mean, as glad as you can be about having a mortgage.
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With money being as cheap as it is/was it was a smart move IMO. The only smarter move would have been to wait until you had all the cash needed for a cash deal. (That is a hard thing to do.)
 
lefty louie said:
So when the government forced lending institutions to hand out no income verification loans was there, in your opinion, a handshake deal made so that when the market crashed (as it did) that the government would not only give the banks a bailout, but would force others to close shop, narrowing the pool of lenders?
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I have no idea what your post even means, or why you asked me these questions.
 
lefty louie said:
With money being as cheap as it is/was it was a smart move IMO. The only smarter move would have been to wait until you had all the cash needed for a cash deal. (That is a hard thing to do.)
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agreed. i would have liked to have done it that way, but i don't have the means. either way, it's a great home in a growing area. this was all cornfields in 2009, and now houses are going up as fast as they can build them. i have mixed feelings about that, but we all have to live somewhere, and this is a good place.
 
tres borrachos said:
I have no idea what your post even means, or why you asked me these questions.
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Well you state that you work in the financial services industry, I am testing your knowledge, you failed. Thank you, moving on now.
 
Helix said:
agreed. i would have liked to have done it that way, but i don't have the means. either way, it's a great home in a growing area. this was all cornfields in 2009, and now houses are going up as fast as they can build them. i have mixed feelings about that, but we all have to live somewhere, and this is a good place.
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I don't know the market near you, but here in the Northern NJ metro NYC area prices are once again reaching bubble status, prices at some point will start to fall. As interest rates increase prices will have to fall back some as there is a max amount a buyer can afford on housing per month.

Don't get flustered if the same happens where you are, look at it as a monthly payment that you were comfortable with when you bought, in time prices will come back again. I just hope you plan on staying put for awhile, banks have it structured so that they get their money first and the loan gets paid off last.
 
lefty louie said:
Well you state that you work in the financial services industry, I am testing your knowledge, you failed. Thank you, moving on now.
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I didn't fail. Your post had noting to do with mine. And government never forced a bank or credit union to "hand out" any loans, particularly no income verification loans. So again, I have no clue what your post meant, or why you asked me the questions that you did.
 
lefty louie said:
I don't know the market near you, but here in the Northern NJ metro NYC area prices are once again reaching bubble status, prices at some point will start to fall. As interest rates increase prices will have to fall back some as there is a max amount a buyer can afford on housing per month.

Don't get flustered if the same happens where you are, look at it as a monthly payment that you were comfortable with when you bought, in time prices will come back again. I just hope you plan on staying put for awhile, banks have it structured so that they get their money first and the loan gets paid off last.
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i'll be good as long as the economy doesn't get destroyed again and i lose my job. i look at it as smarter than renting, and this is good area to buy a home.
 
Fledermaus said:
It has neen explained to you ad nauseum by people far better at explaining than I in your last failure of a thread.

And you know this to be true.
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no fled, conservatives (and conservative like posters) just like you whined and flailed at my links with nothing but "nuh uh." The few that actually posted anything factual could not explain the connection to "dramatically lower lending standards starting late 2004". Most just whine about the solid factual links I post. case in point:

Fledermaus said:
Hey, look. More Verning...

I capable of admiting you are wrong.

And continuing to C&P an article in a near religious repetition rather than look at the whole of the situation...
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See how you're whining about the link instead of addressing the information in the link. That's now the second time in this thread. And fled, Bush's Working Group shreds 95% of the lying conservative narratives concerning the Bush Mortgage Bubble so its not going away just because whine at it. And fyi, fenton whines about me posting it too. He doesn't address it either.

And I have to chuckle that someone who can only whine about the links, ignores the facts and cowardly dodges requests to back up his "claims" says that I "don't look at the whole of the situation". I'm literally the only one who does. Its why posters like you can only post "wah wah others already have" when asked to explain something. thanks for the laughs.
 
lefty louie said:
And again you failed, hope your boss doesn't read these pages. How The Government Caused The Mortgage Crisis - Business Insider
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One more time. No bank or credit union was ever forced by the government to hand out a no income verification loan. Your link, which is an entirely different discussion, also doesn't address your wild claim. Not even the CRA requires banks to hand out no income verification loans.

I don't know if my boss reads these pages or not. If he does, he would also know that your post was ridiculous.

Find me the government order to banks and/or credit unions to hand out no income verification loans. You can't, because it never happened.

Stop trolling.
 
tres borrachos said:
One more time. No bank or credit union was ever forced by the government to hand out a no income verification loan. Your link, which is an entirely different discussion, also doesn't address your wild claim. Not even the CRA requires banks to hand out no income verification loans.

I don't know if my boss reads these pages or not. If he does, he would also know that your post was ridiculous.

Find me the government order to banks and/or credit unions to hand out no income verification loans. You can't, because it never happened.

Stop trolling.
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https://en.wikipedia.org/wiki/Causes_of_the_Great_Recession

The fact that you cannot see this crisis was orchestrated only tells me again that you failed, no troll here.
 
lefty louie said:
https://en.wikipedia.org/wiki/Causes_of_the_Great_Recession

The fact that you cannot see this crisis was orchestrated only tells me again that you failed, no troll here.
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Stop posting links. It's ignorant and a waste of everyone's time.

I asked you to post the regulation that allowed the government to force banks or credit unions to hand out no income verification loans, which is what was in the original question you asked me. Not a Wiki link. Now please do it, or just admit you have no idea what you're talking about (which is the case, because no bank or credit union was ever forced to "hand out" a loan to anyone, and certainly not a "no income verification" loan). Any FI that did that chose to do that on their own. Including Countrywide and other lenders.
 
tres borrachos said:
Stop posting links. It's ignorant and a waste of everyone's time.

I asked you to post the regulation that allowed the government to force banks or credit unions to hand out no income verification loans, which is what was in the original question you asked me. Not a Wiki link. Now please do it, or just admit you have no idea what you're talking about (which is the case, because no bank or credit union was ever forced to "hand out" a loan to anyone, and certainly not a "no income verification" loan). Any FI that did that chose to do that on their own. Including Countrywide and other lenders.
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You again, geez, you failed, next.
 
Vern said:
no fled, conservatives (and conservative like posters) just like you whined and flailed at my links with nothing but "nuh uh." The few that actually posted anything factual could not explain the connection to "dramatically lower lending standards starting late 2004". Most just whine about the solid factual links I post. case in point:



See how you're whining about the link instead of addressing the information in the link. That's now the second time in this thread. And fled, Bush's Working Group shreds 95% of the lying conservative narratives concerning the Bush Mortgage Bubble so its not going away just because whine at it. And fyi, fenton whines about me posting it too. He doesn't address it either.

And I have to chuckle that someone who can only whine about the links, ignores the facts and cowardly dodges requests to back up his "claims" says that I "don't look at the whole of the situation". I'm literally the only one who does. Its why posters like you can only post "wah wah others already have" when asked to explain something. thanks for the laughs.
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Just as you couldn't admit you screwed up the link you can't admit you screwed the pooch by calling the real estate fiasco Bush's.
 
Fledermaus said:
Just as you couldn't admit you screwed up the link you can't admit you screwed the pooch by calling the real estate fiasco Bush's.
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poor fled, desperate for any excuse to ignore the facts I post. The link changed. Why is that a big deal? Oh yea, you're looking for any excuse to ignore the facts I post. What drives such obedience?
 
Vern said:
poor fled, desperate for any excuse to ignore the facts I post. The link changed. Why is that a big deal? Oh yea, you're looking for any excuse to ignore the facts I post. What drives such obedience?
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Poor Vern. On trick pony. Can't admit he is wrong. The link didn't "change". It was the wrong link to begin with.
 
Fledermaus said:
Poor Vern. On trick pony. Can't admit he is wrong. The link didn't "change". It was the wrong link to begin with.
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I think you're doing that thing where you assume democrats are the equal but opposite of conservatives. Fled, I think this could be a learning experience for you. You have to understand as a conservative (or conservative like poster) you confuse what you want to believe with facts. help me understand how you know the link didn't "change"? And you seem to be using your false narrative about the link to justify ignoring the facts that prove Bush is responsible for the Bush Mortgage Bubble

Fledermaus said:
Just as you couldn't admit you screwed up the link you can't admit you screwed the pooch by calling the real estate fiasco Bush's.
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I have to assume that if I could somehow prove the link did change, you would then accept that Bush is responsible for the Bush Mortgage Bubble?
 
Vern said:
I think you're doing that thing where you assume democrats are the equal but opposite of conservatives. Fled, I think this could be a learning experience for you. You have to understand as a conservative (or conservative like poster) you confuse what you want to believe with facts. help me understand how you know the link didn't "change"? And you seem to be using your false narrative about the link to justify ignoring the facts that prove Bush is responsible for the Bush Mortgage Bubble



I have to assume that if I could somehow prove the link did change, you would then accept that Bush is responsible for the Bush Mortgage Bubble?
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More rote denial of facts.

Vern in a nutshell.
 
Fledermaus said:
More rote denial of facts.

Vern in a nutshell.
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deflection noted. why are you at a debate forum if you constantly cut and run from having a simple discussion of anything?
 
Fledermaus said:
We won't get anywhere if you can't even admit simple **** ups...
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but fled, shouldn't the discussion start where you explain how you know the link didn't "change"? You seem pretty keen on whining about it but oddly cant even begin to discuss the basis of your repeated whining. I know its because you cant discuss the actual facts in an honest and intelligent fashion. But I think you should at least attempt an explanation.
 
Vern said:
but fled, shouldn't the discussion start where you explain how you know the link didn't "change"? You seem pretty keen on whining about it but oddly cant even begin to discuss the basis of your repeated whining. I know its because you cant discuss the actual facts in an honest and intelligent fashion. But I think you should at least attempt an explanation.
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We won't get anywhere if you can't even admit simple **** ups...

Perhaps YOU can explain how the link changed.... No, you can't.

Two COMPLETELY different topics.

Two COMPLETELY different URLs.
 
Fledermaus said:
We won't get anywhere if you can't even admit simple **** ups...

Perhaps YOU can explain how the link changed.... No, you can't.

Two COMPLETELY different topics.

Two COMPLETELY different URLs.
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Links change fled. again I'm asking you how you "know" the link didn't change. and again I assume if I could somehow prove the link did change, you would then accept that Bush is responsible for the Bush Mortgage Bubble?
 
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