You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #31: what does walmart have to do with it? [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Fresh_Start Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-13-09 10:41 AM
Response to Reply #28
31. what does walmart have to do with it?
people will get their own money back. If they want they can make direct principle payments on their mortgages with the tax rebate which would actually build equity faster. If they want, they could keep their small business afloat longer or pull their mortgage out of arrears.
Printer Friendly | Permalink |  | Top
  -Mortgage fix that could save every home owner as much as $500 a month. Dawgs  Feb-13-09 08:12 AM   #0 
  - I think there's something  Delphinus   Feb-13-09 08:16 AM   #1 
  - Exactly.  Stellabella   Feb-13-09 08:19 AM   #2 
  - I would love to be able to refinance at 4%.  midnight   Feb-13-09 08:19 AM   #3 
  - Yeah. Especially when the going rate is about  mountainvue   Feb-13-09 11:32 AM   #48 
  - why does it have to be at original loan amt? I've already pd down a bunch m,  Kashka-Kat   Feb-13-09 08:31 AM   #4 
  - I meant, your original loan after what you've put down.  Dawgs   Feb-13-09 08:41 AM   #5 
  - How did you keep the closing costs so low?  gollygee   Feb-13-09 08:42 AM   #6 
  - yea $3000 - $5000 for some.  Xenotime   Feb-13-09 08:45 AM   #8 
     - Yes. Some of the fees seem exorbitant. n/t  mountainvue   Feb-13-09 11:33 AM   #51 
  - How can you make closing costs less than $500?  ipfilter   Feb-13-09 08:44 AM   #7 
  - Think of it as a government fix to our mortgage crisis.  Dawgs   Feb-13-09 09:00 AM   #10 
  - closing costs are just tacked on garbage to gouge buyers...  msongs   Feb-13-09 09:13 AM   #12 
  - I've gone over my HUD-1 statements with a fine tooth comb.  ipfilter   Feb-13-09 09:56 AM   #18 
  - Some are, but most are legitimate.  MercutioATC   Feb-13-09 10:03 AM   #21 
  - If the origination fee is high, it may in fact be  mountainvue   Feb-13-09 11:42 AM   #59 
  - You are being silly.  Hassin Bin Sober   Feb-13-09 10:35 AM   #29 
  - You are dead wrong. n/t  mountainvue   Feb-13-09 11:36 AM   #55 
  - You can cut out most of the search/exam and title insurance fees  flvegan   Feb-13-09 11:31 AM   #47 
  - The upfront MIP on FHA loans can be added  mountainvue   Feb-13-09 11:35 AM   #52 
  - Many people purc hased low-rate variable loans with the understanding that the rate would increase.  MercutioATC   Feb-13-09 08:50 AM   #9 
  - Because it will help keep the value of you home from going down.  Dawgs   Feb-13-09 09:04 AM   #11 
     - I'm not opposed to helping the responsible buyers who fell on hard times.  MercutioATC   Feb-13-09 09:23 AM   #13 
     - Some people did not sign up for these loans.  justgamma   Feb-13-09 09:44 AM   #14 
     - Mortgages can not legally change like that.  MercutioATC   Feb-13-09 09:54 AM   #16 
     - Mortgage can't change when sold.  Statistical   Feb-13-09 10:11 AM   #23 
     - "These people shouldn't be rewarded at taxpayer expense."  Dawgs   Feb-13-09 09:51 AM   #15 
     - Who pays if you reset all variable rate mortgages to their original (teaser) rate?  MercutioATC   Feb-13-09 09:57 AM   #19 
     - yeah, fuck em.. let's put those fuckers out in the streets.  dionysus   Feb-13-09 10:41 AM   #32 
        - Thank you.  Dawgs   Feb-13-09 10:49 AM   #34 
        - Yeah... fuck many renters who have been waiting  taught_me_patience   Feb-13-09 11:30 AM   #45 
     - Maybe homes are overpriced and values should fall?  taught_me_patience   Feb-13-09 11:28 AM   #43 
        - Uh, my home price fell by $50,000 in the past year and a half. Prices have already come down.  Dawgs   Feb-13-09 11:39 AM   #57 
  - I think the best housing stimulus would be this:  KillCapitalism   Feb-13-09 09:56 AM   #17 
  - In other words, free money  Dreamer Tatum   Feb-13-09 10:00 AM   #20 
     - Exactly.  MercutioATC   Feb-13-09 10:05 AM   #22 
  - The total cost of such a stimulus plan would be $130 billion.  Dawgs   Feb-13-09 10:20 AM   #24 
  - $350 a month(my scenario) sounds a lot better than $67(tax cut) a month.  Dawgs   Feb-13-09 10:48 AM   #33 
  - it would be easier if the government would provide tax credit  Fresh_Start   Feb-13-09 10:25 AM   #25 
  - Would that tax credit be realized in the monthly mortgage payment?  Dawgs   Feb-13-09 10:27 AM   #26 
  - they could do it for the current year taxes so you'd get the  Fresh_Start   Feb-13-09 10:30 AM   #27 
  - the mortgage companies already report to the federal  Fresh_Start   Feb-13-09 10:36 AM   #30 
  - Huh? So people could spend their tax credit at Walmart?  Oregone   Feb-13-09 10:34 AM   #28 
     - what does walmart have to do with it?  Fresh_Start   Feb-13-09 10:41 AM   #31 
        - People only get their own money back if they had the income to pay taxes in the first place....  Oregone   Feb-13-09 10:52 AM   #35 
           - actually thats not true  Fresh_Start   Feb-13-09 10:55 AM   #36 
              - So....essentially you think the government should subsidize the banks?!?!?  Oregone   Feb-13-09 11:01 AM   #37 
                 - its not the same thing because the people chose how to spend  Fresh_Start   Feb-13-09 11:10 AM   #40 
                    - Think of it this way, today you can deduct your mortgage  Fresh_Start   Feb-13-09 11:22 AM   #42 
                    - Anyway you cut it, you are paying a person percentage of mortgage for them.  Oregone   Feb-13-09 11:50 AM   #65 
                    - It really is the same thing  Oregone   Feb-13-09 11:45 AM   #61 
                       - Why do you assume I wasn't thinking of government owned lending?  Dawgs   Feb-13-09 11:49 AM   #63 
                          - I never assumed anything...  Oregone   Feb-13-09 11:53 AM   #68 
                             - Sorry. I misread.  Dawgs   Feb-13-09 11:56 AM   #70 
  - If you refinance a loan, you restart the clock. I took out a 15 yr. fixed loan at 6 3/8% in 2001. I  sinkingfeeling   Feb-13-09 11:01 AM   #38 
  - Yes, but if you go from a 30 to a 25 or 20, with lower interest, then you can  Oregone   Feb-13-09 11:07 AM   #39 
     - And not every homebuyer would or needs to refinance.  Dawgs   Feb-13-09 11:16 AM   #41 
  - How do you expect the people that provide your closing services  mountainvue   Feb-13-09 11:30 AM   #44 
  - See post #24 and #33.  Dawgs   Feb-13-09 11:33 AM   #50 
     - Banks getting "a ton of new business"  mountainvue   Feb-13-09 12:05 PM   #78 
        - So I'm only allowed one chance at making a point? I can't revise it later?  Dawgs   Feb-13-09 12:10 PM   #81 
  - Dupe.  mountainvue   Feb-13-09 11:30 AM   #46 
  - Better idea  taught_me_patience   Feb-13-09 11:33 AM   #49 
  - WTF!!! NOT fixing our mortgage crisis will SCREW everyone.  Dawgs   Feb-13-09 11:35 AM   #53 
     - The way to fix is to let foreclosures happen  taught_me_patience   Feb-13-09 11:38 AM   #56 
        - So, you think that hundreds of thosands of owners being "under water" by over $100,000 is good?  Dawgs   Feb-13-09 11:45 AM   #60 
        - So you think thousands of owners who enjoyed 100-300% apprecation in 2004-2006  taught_me_patience   Feb-13-09 11:54 AM   #69 
           - How many times do I have to tell you that all of that appreciation is gone?  Dawgs   Feb-13-09 12:06 PM   #79 
              - All of the appreciation is not gone  taught_me_patience   Feb-13-09 12:10 PM   #82 
        - allowing more foreclosures  pnutbutr   Feb-13-09 11:50 AM   #64 
        - But if you are a renter looking to buy, its all in your interest  Oregone   Feb-13-09 11:59 AM   #74 
        - Why not delay the inevitable?  Oregone   Feb-13-09 12:00 PM   #75 
           - We'll end up like japan where home prices are still 50% below  taught_me_patience   Feb-13-09 12:03 PM   #76 
              - huh?  Oregone   Feb-13-09 12:12 PM   #84 
  - I'm at 6.35% right now  pnutbutr   Feb-13-09 11:36 AM   #54 
  - Why couldn't you refinance and save $300 a month?  Dawgs   Feb-13-09 11:41 AM   #58 
     - refinancing won't help  pnutbutr   Feb-13-09 11:47 AM   #62 
     - Fixed rate 30 year APR would be at 4% in my scenario.  Dawgs   Feb-13-09 11:52 AM   #66 
        - I tried recently  pnutbutr   Feb-13-09 11:57 AM   #72 
     - I could refi right now....  Oregone   Feb-13-09 11:56 AM   #71 
        - Under my scenario, with help from the government, you would pay less than $1000 in closing costs.  Dawgs   Feb-13-09 12:05 PM   #77 
  - No flame, but what you've missed is the artificial inflation of house prices  Greyhound   Feb-13-09 11:53 AM   #67 
     - Home prices have already come down.  Dawgs   Feb-13-09 11:58 AM   #73 
        - Please see this chart - THEY HAVE NOT COME DOWN ENOUGH  taught_me_patience   Feb-13-09 12:08 PM   #80 
        - Whatever. The point is you are okay with the economy collapsing, while everyone is not.  Dawgs   Feb-13-09 12:12 PM   #83 
           - No, he's just not advocating artifically inflating home prices again.  MercutioATC   Feb-13-09 03:20 PM   #86 
        - The artificially induced house inflation went on for 5 or 6 years and even then,  Greyhound   Feb-13-09 12:22 PM   #85 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC