Future homebuyers could feel the pinc...

Future homebuyers could feel the pinch from plans in Congress to scrap Fannie Mae, Freddie Mac

There are 36 comments on the Nanaimo Daily News story from Aug 7, 2013, titled Future homebuyers could feel the pinch from plans in Congress to scrap Fannie Mae, Freddie Mac. In it, Nanaimo Daily News reports that:

Homebuyers could feel the pinch if Congress follows through on plans to shut down Fannie Mae and Freddie Mac, the government-controlled mortgage guarantee giants that were rescued by a $187 billion taxpayer bailout during the financial crisis.

Join the discussion below, or Read more at Nanaimo Daily News.

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“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#3 Aug 7, 2013
Good. The govt has no business being in the mortgage business.
Eleanor

Mundelein, IL

#5 Aug 7, 2013
Where is George Bailey ("It's a wonderful life") when you need him for a home loan?

Where did all the small 'Savings & Loans' companies go?

Now everywhere you look, they are ALL BIG BANKS.

Since: Mar 09

The Left Coast

#8 Aug 7, 2013
WeTheSheeple wrote:
Good. The govt has no business being in the mortgage business.
I hate it when I have to agree with you - but you are absolutely right.

“i hope we can change this!”

Since: Aug 08

usa

#9 Aug 7, 2013
what happens to the $187 billion they owe us?

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#10 Aug 7, 2013
RustyS wrote:
<quoted text>
I hate it when I have to agree with you - but you are absolutely right.
Ditto.

See, everyone can agree on something.
Now Obama A Home Wrecker

Baldwin Park, CA

#11 Aug 7, 2013
Obama had 4 years to change the country for the better.

Seriously, can anyone name one good thing this guy's done for America?

I need not explain how he and his corrupt guttertrash Chicago mafia handlers have made everything worse. Simply look around with your own lying eyes for proof.

In some aspects Obama is right when he says ((("you didn't build/create that, government did.")))

Let's look at what this administration has created in 4 short years:

-Socialist eugenics based health care (((Obamacare)))

-NDAA (((National Defense Authorization Act))) where Americans can be disappeared without a jury

-Out of control (((Crony Capitalism)))-government picks winners and losers based on payouts -not free market eg. Solyndra, GM, GE, MF Global, Numerous Bank Bailouts, Cancelling Keystone Pipleline, No Prosecution of criminal Banksters

-(((Skyrocketing Unemployment and Outsourcing)))-The idea that welfare checks/EBT cards are paychecks

-(((Fast and Furious))) and other suspected domestic false flags like Aurora CO to argue for abolishing the 2nd ammendmant

-Massive (((TSA expansion))) onto America's streets and armed (((survellance drones/now blimps))) operating over US territory.

-(((UN control of U.S. military troops to invade))) Egypt, Syria, parts of Africa, etc. for offshore bankers aka Nazism

-(((Trickle Down Government))) The idea that nothing can be built without (((more government bureaucrats and global warming regulations/taxes))) getting in the way

-(((Throwing Israel -an important ally- under the bus))) by destabalizing all the county's around it but not offering them any assurances of protection

-A(((continuation of Bush's failed policies))), like not getting out of Iraq, Afghanastan, and no closing of Guantanamo torture camps

-(((Polaraized race relations))) eg. Disrespectful hadling of the Treyvon Martin family after his murder -opportunistic my son would have looked like Treyvon soundbite- and media staged racial infighting between Americans

-(((No Proof Obama supposedly got Osama)))) America was never really allowed to see the body/proof ; -)

-(((Defunding of NASA))) No exploration of the stars for the U.S., leave that to countries that are exceptional

-(((No Plan/ or Budget to Fix Anything if he is re-elected )))-always says what you want to hear, then does the exact opposite hoping you''ll forget by the next speech -(((Sociopathic Liar)))

-(((Obamaphone)))-Massive expansion of this program for his dependant voting base

-(((Unlimited QE3 leading to hyperinflation/ monopoly money))) Dollar is rapidly losing purchasing power resulting in skyrocketing food and GAS PRICES (especially for "green gas" in CA)

-(((Needed a tainted Creepy Crawley moderator to hold his hand during the 2nd debate))) weak affirmative action President

- My favorite (((Legalizing the illegals))) temporarily until the election is over but not offering true immigration reform

Obama's 2nd Term

(((BenghaziGate))) Obama lied, our troops died -bigger than Watergate, this is outright treason -funny how Obama threw Clinton under the bus

(((IRS Gate))) Uses IRS storm troopers to go after political enemies by targeting foes for audits and leaking classified tax information -both felonies

(((Mediagate-Boston CIA Gate))) Trying to chill journalists by tapping their phone conversations -even spying on Associated Press and other old liberal allies

(((NSA/PRISM Spy Gate))) Persecuting whistleblowers like Snowden and now bumping off journalists who expose illegal phone/net wiretapping on public

(((Holdergate))) Is Holder is supposed to supervise all these hearings? He should be in jail over Oklahoma city, Fast and Furious, and Wall Street corruption. Laws without enforcement are useless.

What the hell does it take to get impeached or is Obama now a bonafide dictator?

http://www.topix.com/forum/news/immigration/T...

“Voters elect Big Bird”

Since: Jan 07

Dump American Eagle

#13 Aug 7, 2013
WeTheSheeple wrote:
Good. The govt has no business being in the mortgage business.
Then what is up with the plan Obama has about using government coercion in "convincing" private lending institutions to make mortgage loans to questionable borrowers? Didn't we go down this road before?

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#14 Aug 7, 2013
Now Obama A Home Wrecker wrote:
Obama had 4 years to change the country for the better.
Seriously, can anyone name one good thing this guy's done for America?
Yes, he kept both McCain and Romney out of the White House.

Even if that were the ONLY good thing he did for America, it would be more than enough.

Of course he's done so much more, but as an Anti-Obama you won't be able to see it.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#15 Aug 7, 2013
okimar wrote:
<quoted text>Then what is up with the plan Obama has about using government coercion in "convincing" private lending institutions to make mortgage loans to questionable borrowers? Didn't we go down this road before?
You'll have to ask the President.

I already said I support getting the govt completely out of the mortgage lending business.

“Voters elect Big Bird”

Since: Jan 07

Dump American Eagle

#16 Aug 7, 2013
WeTheSheeple wrote:
<quoted text>
You'll have to ask the President.
I already said I support getting the govt completely out of the mortgage lending business.
I'm with you on that.
lolol

Albuquerque, NM

#17 Aug 7, 2013
okimar wrote:
<quoted text>Then what is up with the plan Obama has about using government coercion in "convincing" private lending institutions to make mortgage loans to questionable borrowers? Didn't we go down this road before?
.
yep, bubble redux.
this administration will repeat failed history till the tax coffers are dry.
Jaimie

Madison, WI

#18 Aug 7, 2013
Mortgage rates on house sales were unlawful, A home in Madison is really worth $25-2500 By law, you have to take the insittution to court and they have to proof their buyer, WHAT buyer says this, What the house is only worth $1500 by law and and Internaaitonal rating systems you are bound to HELL NO I WANT TO PAIY $250,000 we really want the house, we will accept the realtors bid instead, and then if they make their check out in court, the buyers that bid for international rates must accept they did have a legal bidder on the home and it is not availbable for sale.

Although, to build a home it is about $48,000 for a 3 bedroom ranch with basement and a 1/4are property, not bad or more if out of town on land spacing. On a 50 or 60 Year mortage plan that is only a couple hundred you and your spouse needs to come up with monthly to accomidate policy.$0-1 % interest if you made the bank aware of your medical disbailities or birth defect that is registered and caretaked for. And $25,000 extra to furbish yoru home. Bank has their own land purchases and contractor and devlopment plans for subdivision developements.

And As for Obama OUCH I had to establish a savings accoutn and direct deposit, HE THINKS IT IS cheaper then sending paper checks that are on a interest bearing escrow accoutn and funded into the future on roll over contracts appreciating interest to begin with. But his lesser checks cashed merchants want to play STOCK exchange on illegal bidding and life insruence polciy monthly on elderly and disbaled peopels funds to see if they go to prison for fraud, to much in account and cant suffice the next pay scale as they exceeded their monthly allowence another way to scapegoat so he does nto have to do his own job, create a angle of another that FEDS dont have staffing for and will have to hire nebies that have a inability to keep up and all disbalities will go to prison.

IT costs $0 to anyoen for the President to have said, all people on SSI and food stamps your cards for cash or food services will automatically have cash funds available to you, BUT we must generate a new invoice bigger then yoru check of proof of payment to yoru Driect deposit accoutn now and the VOID check replica of SSI cehck that it is confirmed mailed to your direct deposit as well. AND HE SAID ways to cut spending BLock the paper check

IM not a sorority sister fellows help in articutlation you knew the stipulations to these actions and the cost is over 10 times greater then leaving the paper checks as it was. NAIL them Republican Senate
fingiswold

Newark, OH

#19 Aug 7, 2013
Jaimie wrote:
Mortgage rates on house sales were unlawful, A home in Madison is really worth $25-2500 By law, you have to take the insittution to court and they have to proof their buyer, WHAT buyer says this, What the house is only worth $1500 by law and and Internaaitonal rating systems you are bound to HELL NO I WANT TO PAIY $250,000 we really want the house, we will accept the realtors bid instead, and then if they make their check out in court, the buyers that bid for international rates must accept they did have a legal bidder on the home and it is not availbable for sale.
Although, to build a home it is about $48,000 for a 3 bedroom ranch with basement and a 1/4are property, not bad or more if out of town on land spacing. On a 50 or 60 Year mortage plan that is only a couple hundred you and your spouse needs to come up with monthly to accomidate policy.$0-1 % interest if you made the bank aware of your medical disbailities or birth defect that is registered and caretaked for. And $25,000 extra to furbish yoru home. Bank has their own land purchases and contractor and devlopment plans for subdivision developements.
And As for Obama OUCH I had to establish a savings accoutn and direct deposit, HE THINKS IT IS cheaper then sending paper checks that are on a interest bearing escrow accoutn and funded into the future on roll over contracts appreciating interest to begin with. But his lesser checks cashed merchants want to play STOCK exchange on illegal bidding and life insruence polciy monthly on elderly and disbaled peopels funds to see if they go to prison for fraud, to much in account and cant suffice the next pay scale as they exceeded their monthly allowence another way to scapegoat so he does nto have to do his own job, create a angle of another that FEDS dont have staffing for and will have to hire nebies that have a inability to keep up and all disbalities will go to prison.
IT costs $0 to anyoen for the President to have said, all people on SSI and food stamps your cards for cash or food services will automatically have cash funds available to you, BUT we must generate a new invoice bigger then yoru check of proof of payment to yoru Driect deposit accoutn now and the VOID check replica of SSI cehck that it is confirmed mailed to your direct deposit as well. AND HE SAID ways to cut spending BLock the paper check
IM not a sorority sister fellows help in articutlation you knew the stipulations to these actions and the cost is over 10 times greater then leaving the paper checks as it was. NAIL them Republican Senate
obamacare will send you medications, urge you to take them
fingiswold

Newark, OH

#20 Aug 7, 2013
lolol wrote:
<quoted text>
.
yep, bubble redux.
this administration will repeat failed history till the tax coffers are dry.
"tax coffers," lol you probably think there are such things, huh?

bubblehead
i see oj

Virginia Beach, VA

#21 Aug 7, 2013
Eleanor wrote:
Where is George Bailey ("It's a wonderful life") when you need him for a home loan?
He's broke and in jail, LOL.......how many laws did he break in that movie?

Since: Oct 12

Location hidden

#22 Aug 7, 2013
WeTheSheeple wrote:
<quoted text>
Ditto.
See, everyone can agree on something.
...but nobody does'nt like..Sara Lee.....

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#23 Aug 7, 2013
Go Blue Forever wrote:
<quoted text>...but nobody does'nt like..Sara Lee.....
Well actually......
Justin

United States

#25 Aug 8, 2013
WeTheSheeple wrote:
Good. The govt has no business being in the mortgage business.
I'll agree with you on that.
Fannie and Freddie obviously did a poor job of vetting qualified home buyers. They let politics and social activism cloud what should have been objective financial decisions. Decades ago, banks required home buyers to put 20% cash down and several years of solid work history, and the monthly payment could not exceed 25% of their monthly income. There was no Fannie and Freddie standing by to guarantee risky loans, so banks were conservative with their lending. In retrospect, the old way was the best way. End of an era.
Justin

United States

#26 Aug 8, 2013
carey529 wrote:
what happens to the $187 billion they owe us?
Hey, thanks to the housing boom you've got to meet a lot of new neighbors. They never cut their grass, raised chickens in the back yard, and eventually bailed leaving the house empty. But, the few years that you guys had to share together was well worth $187 Billion.
Wan't it?
goose

Minneapolis, MN

#27 Aug 8, 2013
Justin wrote:
<quoted text>
I'll agree with you on that.
Fannie and Freddie obviously did a poor job of vetting qualified home buyers. They let politics and social activism cloud what should have been objective financial decisions. Decades ago, banks required home buyers to put 20% cash down and several years of solid work history, and the monthly payment could not exceed 25% of their monthly income. There was no Fannie and Freddie standing by to guarantee risky loans, so banks were conservative with their lending. In retrospect, the old way was the best way. End of an era.
Freddie and Fannie worked as designed.
Affordable housing changed the old tried and true practice of vetting qualified home buyers. The is on purpose , after shouldn't everyone be able to afford a ho,me? As always the good intentions of the left have consequences!
Remember when GW and the Republicans wanted to audit Freddie and Fannie and the Democrats said why, they are fine! hahahaha

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