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Reply #8: This is actually a good idea. The "(almost) no down" gimmick is a disaster. [View All]

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PSPS Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-24-11 12:24 AM
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8. This is actually a good idea. The "(almost) no down" gimmick is a disaster.
As the amount of down payment goes down, delinquency rates go way up. It's been that was forever.
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  -GOP proposes increase in FHA down payments alp227  May-23-11 09:31 PM   #0 
  - the republicans just can`t help themselves can they....  madrchsod   May-23-11 09:44 PM   #1 
  - At a time of the biggest shadow inventory of foreclosed homes in history?  DJ13   May-23-11 09:45 PM   #2 
  - It's part of their religious belief, worshiping at the altar of money requires human sacrifice. n/t  Uncle Joe   May-24-11 10:52 AM   #23 
  - Where does that leave future USDA backed mortgages?  mwooldri   May-23-11 10:12 PM   #3 
  - That's also how we got our home. It's a really great program  Luciferous   May-24-11 07:17 AM   #17 
  - I am not sure this is a bad idea.  jerseyjack   May-23-11 10:20 PM   #4 
  - No money down loans helped inflate the bubble  madville   May-23-11 10:55 PM   #6 
  - Given upfront charges, 3.5% is pretty much no-money down  Yo_Mama   May-24-11 05:55 AM   #15 
  - I took an FHA loan. I could not have bought without it and have not made a late payment in 2 years  Tunkamerica   May-24-11 04:43 AM   #10 
  - You weren't  Yo_Mama   May-24-11 05:25 AM   #14 
     - you only have to pay the insurance until you have  mopinko   May-24-11 07:46 AM   #19 
        - That's correct, but that can be a very long time if your house is losing value  Yo_Mama   May-24-11 09:22 AM   #21 
           - insurance premiums are part of the loan unless paid  mopinko   May-24-11 09:27 AM   #22 
  - you are not correct. fha has been 3.5% forever.  mopinko   May-24-11 07:42 AM   #18 
  - Given that housing prices are still spiraling downwards  customerserviceguy   May-24-11 05:26 PM   #25 
  - I had to put 10% down for my FHA loan in 1997  madville   May-23-11 10:45 PM   #5 
  - see my reply above. I didn't have th downpayment when it counted and  Tunkamerica   May-24-11 04:45 AM   #11 
  - Yes, you're right  Yo_Mama   May-24-11 04:59 AM   #13 
  - Let's do the same thing with stock traders  LastLiberal in PalmSprings   May-23-11 11:51 PM   #7 
  - This is actually a good idea. The "(almost) no down" gimmick is a disaster.  PSPS   May-24-11 12:24 AM   #8 
  - I would beg to disagree.  Mopar151   May-24-11 04:22 AM   #9 
  - yes +1  Tunkamerica   May-24-11 04:46 AM   #12 
  - At its core, the idea is sound.  izquierdista   May-24-11 07:59 AM   #20 
  - Is there anything these assholes don't want to ruin?  Hubert Flottz   May-24-11 06:20 AM   #16 
  - Will they ever learn that making mortgages available to people who  Mr. Jefferson   May-24-11 05:02 PM   #24 

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