More minorities own their homes

The longstanding gap in homeownership rates between non-Hispanic whites in Minnesota and those from minority groups shrank a bit in 2008, according to a study released Monday.

[Housing Czar]

Fannie Seeks $15 Billion in U.S. Aid

http://money.cnn.com/news/newsfeeds/articles/...

Fannie Mae today reported its third-quarter 2009 results and filed its quarterly report on Form 10-Q with the Securities and Exchange Commission. The filing provides consolidated financial statements for the third quarter of 2009. The following documents are now available on Fannie Mae’s Web site:

News Release reporting third-quarter 2009 financial results Fannie Mae’s quarterly report on Form 10-Q Third-Quarter 2009 Credit Supplement

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America

more at money.cnn.com ...

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More proof that the government cannot run anything and that government run entities are nothing but endless moneypits.....woot! for Dems version of ObamaCare, huh?

The upkeep on their rental program is going to be a real Barney. Wouldn’t it be cheaper to give away all their bad mortgages? Forgive the debt, and move on in the spirit of hope and change.

[Housing Czar]

Fannie Mae to Rent out Homes Instead Foreclosing
http://abcnews.go.com/Business/wireStory...
Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
The government-controlled company, through its new "Deed for Lease" program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
more at abcnews.go.com ...
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Government controlled rental properties? Isn’t that what section 8 housing is already?
The main facet is it allows Fannie and Freddie to maintain the fictitious value of the house, and not write it down, which adds fuel to the economic collapse of housing and lending for housing.
Obamavilles - the new Hoovervilles !
Karl Denniger nails it :
WHERE ARE THE DAMN HANDCUFFS?(Fraudie)
http://market-ticker.org/archives/1585-WHERE-... -
Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
The government-controlled company, through its new "Deed for Lease" program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
This has exactly nothing to do with helping "homeowners."
It is entirely about Fannie not having to recognize the written-down value of these houses - that is, allowing them to hold the "mark" on the loan at it's original value, rather than recognize the loss.
Fannie won't sell the properties because then they would have to recognize the mark.
This is nothing other than yet another scam to avoid recognition of bad paper Fannie took on their books and has a HUGE embedded loss.

[Skeptic]

I'm not sure what brought on this demented rant, who cares who owns a home? As long as they can afford it, who cares? Why should a republican not want anyone in particular to own a home?

You really need to get back on your meds.........your delusions are very strong.

Too bad, when the Obamam Socialized medicine healthcare program starts, we're all going to be made poorer, we're going to be taxed oppresively.
The enemy of homeowners is Obmama, who wants to drain the working class's wealth, and put it in ACORNS bank account. So, if you've accumlated some wealth, you can expect to see a redistribution of wealth, taken from those that have it, and given to illegal immigrants, and those who don't deserve it.

The spot price of gold at this moment, over $1100/ounce, just shows you how wrecked the dollar/economy is.

Good luck!! Don't hate so much, be happy.

IrishMN wrote:

Republi-thugs bad mouth any and all government programs to give a helping hand to those that are not rich. This article is a great example of why they bad mouth these programs. Those that are not rich are gaining in home ownership - and in becoming self sufficient. This really irritates the rich fat cats when the poor are not paying rent, but rather are growning a little bit of wealth and self sufficiency through home ownership.
In your face you fat cat pigs.

[Bob the Bilderberg]

From the article:
"... areas with elevated levels of problem mortgages, where borrowers have either missed payments or received foreclosure notices, also have a larger share of emerging-market homeowners, according to the report.

Trends in the number of homeowners who are falling behind on mortgage payments suggest no end in sight to the elevated level of bank foreclosures, which has rocked the housing market in recent years."

Ok, I get it. They don't WANT the housing economy to ever come back. I see.

[Skeptic]

When Obmama takes over health care, it will be run like the post office, with the IRS monitoring compliance, I've said before, people fear the IRS, and it will be given more power, it will be Gestapo like.

When people fear the government, there is Tyranny.
That's exactly what we have, and it is gaining power, will become more fearsome as we slide down the slippery slope to a dictatorship.

[oxboro]

Skeptic wrote:

When Obmama takes over health care, it will be run like the post office, with the IRS monitoring compliance, I've said before, people fear the IRS, and it will be given more power, it will be Gestapo like.
When people fear the government, there is Tyranny.
That's exactly what we have, and it is gaining power, will become more fearsome as we slide down the slippery slope to a dictatorship.

are you referring to war GW bush blindly led this country into?

[oxboro]

srah palin owns her own igloo while keeping an eye on Russia

[Pat from Blaine]

IrishMN wrote:

Republi-thugs bad mouth any and all government programs to give a helping hand to those that are not rich. This article is a great example of why they bad mouth these programs. Those that are not rich are gaining in home ownership - and in becoming self sufficient. This really irritates the rich fat cats when the poor are not paying rent, but rather are growning a little bit of wealth and self sufficiency through home ownership.
In your face you fat cat pigs.

IRISHMN,

YOu rpost will back fire on you.

These minorities will start paying property taxes and pretty soon be fed up with double digit increases every year and soon they will stop voting in tax tax tax taxocrats.

Then what will you do be anti minority or will you blame som eone else for your failures?

[Urine Trouble]

I know it is taboo, but WHY do we subsidize housing so aggressively? Why does a million dollar homeowner get a tax deduction for his mortgage interest?
Folks, this is what happens when you play chess with the market. Occasionally, the bubble bursts.

[What a Plan]

Wow, expanding home ownership to everyone -- including people (regardless of color) who don't have any business owning a home -- has worked really great. Let's offer more credits and incentives to get more unqualified people into the market.

[monet]

oxboro wrote:

srah palin owns her own igloo while keeping an eye on Russia

But she didn't buy it with profits from the narcotic and prostitution industries.

[C I C]

In the past year or two minorities lead the forclosure and bankruptcy numbers. Facts.

[Steveb]

I'm white and i still rent. When do i get my house? They said minorities right?

[Pat from Blaine]

Hey IRISHMN,

Please read C I C post.

There this has back fired.

Now how do you feel? Maybe you should think before you post.

[Bawney Fwank]

That's how we got in this incredible mess to begin with!!

[The Big Bopper]

IrishMN wrote:

Republi-thugs bad mouth any and all government programs to give a helping hand to those that are not rich. This article is a great example of why they bad mouth these programs. Those that are not rich are gaining in home ownership - and in becoming self sufficient. This really irritates the rich fat cats when the poor are not paying rent, but rather are growning a little bit of wealth and self sufficiency through home ownership.
In your face you fat cat pigs.

eh?

[Hmmm]

MN may have a high level of home ownership, but we also have one of the highest rates of foreclosure.
Predatory lending should not be celebrated. Minorities have been on the receiving end of these cheap ARM loans a LOT of the time. Oh but it makes us feel good to say they have a home (for now.)
Spring of 2010 estimates put one in six homes in foreclosure in the US. Buckle up folks. Another bubble burst is coming (and more calls for "stimulus," undoubtedly. Don't fall for it again.

[Peter]

IrishMN wrote:

Republi-thugs bad mouth any and all government programs to give a helping hand to those that are not rich. This article is a great example of why they bad mouth these programs. Those that are not rich are gaining in home ownership - and in becoming self sufficient. This really irritates the rich fat cats when the poor are not paying rent, but rather are growning a little bit of wealth and self sufficiency through home ownership.
In your face you fat cat pigs.

"Helping hand", aka someone else's money.

Get a job, GoDFL. Spending your own money is good for the soul; try it sometime.

[shaeesha]

I gonna gets my own homes.The welfare gonna pays.I need it cause i gots 6 babys and they daddys don't come around no more. the governmt gotta help me who gonna pay for these babys i gots no money

[Gubbernator]

And who do you think is paying for these homes? I would be willing to bet there is a lot of gubbermint assistance involved.