Middletown Forum : Frank's Fannie http://www.middletownusa.com/forum/ This is an XML content feed of; Middletown Forum : News, Info and Happenings outside Middletown : Frank's Fannie Thu, 05 Nov 2026 18:03:35 +0000 Thu, 09 Oct 2008 10:04:01 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 10.12 360 www.middletownusa.com/forum/RSS_post_feed.asp?TID=586 Middletown Forum http://middletownusa.com/images/blog-logo.jpg http://www.middletownusa.com/forum/ Frank's Fannie : Funny how the right thing to do... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2301&title=franks-fannie#2301 Author: John Beagle
Subject: 586
Posted: Oct 09 2008 at 10:04am

Funny how the right thing to do is now perceived as the wrong thing.
 
That's socialism for you.
]]> Thu, 09 Oct 2008 10:04:01 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2301&title=franks-fannie#2301 Frank's Fannie : Mike Talking about PMI...Where... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2300&title=franks-fannie#2300 Author: Vivian Moon
Subject: 586
Posted: Oct 09 2008 at 8:26am

Mike
Talking about PMI...Where is all this money that was was collected to insure these no money down loans? We need to rename this generation "I WANT IT NOW!"
Remember when house payment could not exceed 1 weeks bring home pay and you also needed 20% down...Oh, and the bank checked your credit before they gave you the money....Hey maybe we should do this again.
]]> Thu, 09 Oct 2008 08:26:14 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2300&title=franks-fannie#2300 Frank's Fannie : Pac: In addition, I was stupid... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2298&title=franks-fannie#2298 Author: Mike_Presta
Subject: 586
Posted: Oct 08 2008 at 10:46pm

Pac:
In addition, I was stupid enough to put 20% down in order to avoid paying PMI!!
 
That was a big chunk of dough that would come in handy today...now that the market (and my retirement funds) have gone so far south that I can see penguins!!
]]> Wed, 08 Oct 2008 22:46:49 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2298&title=franks-fannie#2298 Frank's Fannie : Mike that was my first thought... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2297&title=franks-fannie#2297 Author: Pacman
Subject: 586
Posted: Oct 08 2008 at 6:47pm

Mike that was my first thought also.  Why was I stupid enough to get a low interest fixed rate mortgage on a home I and my wife could afford.  Why couldn't I have been smart and got a home at twice what I could afford, with an interest only loan or 5 year arm.....etc.Censored ]]> Wed, 08 Oct 2008 18:47:47 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2297&title=franks-fannie#2297 Frank's Fannie : This all STINKS!!! It makes... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2295&title=franks-fannie#2295 Author: Mike_Presta
Subject: 586
Posted: Oct 08 2008 at 5:30pm

This all STINKS!!!
 
It makes me wish that I would have been stupid enough to have gotten a bad mortgage.
 
I wonder if it's not too late to find a shyster and re-finance???  Wink
]]> Wed, 08 Oct 2008 17:30:41 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2295&title=franks-fannie#2295 Frank's Fannie : VieVet, You remind me of a... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2294&title=franks-fannie#2294 Author: .308
Subject: 586
Posted: Oct 08 2008 at 5:09pm

VieVet,

 

You remind me of a friend of mine. He quit a nice job with the EPA in the late 80's and started a 10 year cycle of being downsized by one large company after another. He moved so much, and was not shy about asking for help, that I did not want to answer his calls anymore by early 2000.

 

But we must be careful not to swing so far the other way in our distrust or dislike of big business or those who are very well of. We must be careful to mind those in need while not discouraging those who are willing to work hard and take risks to better their financial situations at any level.

 

I surf the web a lot and every day I am amazed at the level of entitlement many have come to expect. The other day for example I saw a comment on a popular site, digg.com, that went like this, and this is not an exaggeration: "I support Obama! Why should I have to pay anything for health care? Make the rich pay. I hate the rich, I hate the rich, they must pay, pay pay!"

 

That person, and there are millions like that, has in my opinion gone too far.

]]> Wed, 08 Oct 2008 17:09:35 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2294&title=franks-fannie#2294 Frank's Fannie : Vet, I am hearing about this for... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2292&title=franks-fannie#2292 Author: Pacman
Subject: 586
Posted: Oct 08 2008 at 4:05pm

Vet, I am hearing about this for the first time today as you are.  I understand he mentioned this last night in the debate which I did not watch as I am personally campaigned out by both parties.
 
But he does state, "The new mortgage would be an FHA-guaranteed fixed-rate mortgage at terms manageable for the homeowner. The direct cost of this plan would be roughly $300 billion because the purchase of mortgages would relieve homeowners of “negative equity” in some homes.  Funds provided by Congress in recent financial market stabilization bill can be used for this purpose; indeed by stabilizing mortgages it will likely be possible to avoid some purposes previously assumed needed in that bill."
 
Doable I don't know.  
 
]]> Wed, 08 Oct 2008 16:05:29 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2292&title=franks-fannie#2292 Frank's Fannie : And conversely, .308, I believe... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2291&title=franks-fannie#2291 Author: VietVet
Subject: 586
Posted: Oct 08 2008 at 3:45pm

And conversely, .308, I believe that the Republican sanctioned corporations of America, with the CEO's being supported in large part , by the Republican Party has also contributed to the downward spiral of our economic problems. The CEO's and the middle management have been the enemy for many years of the working class. They have done well for themselves while the middle class working people have taken it on the chin. In actuality, it is both parties that are guilty of damaging this country in many ways.They're just coming from different directions. You will have to excuse me for the bitterness toward management and CEO's. After you have been downsized three times since 1994, you tend to get a little hostile toward the people in power when they demonstrate that they believe you to be expendable as they take in the good life.]]> Wed, 08 Oct 2008 15:45:27 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2291&title=franks-fannie#2291 Frank's Fannie : Pacman- Regarding the McCain information-... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2290&title=franks-fannie#2290 Author: VietVet
Subject: 586
Posted: Oct 08 2008 at 3:34pm

Pacman- Regarding the McCain information- just one question- McCain mentions the American Homeownership Resurgence Act-in the sixth paragraph, he mentions that "the Resurgence Plan will purchase the mortgages directly from homeowners and mortgage servicers and replace them with manageable fixed rate mortgages" etc.etc. He does not explain where this money will come from or who will provide the financing for this program. Can you explain in more detail how McCain will accomplish this and if it will cost more money to do so? IF, it costs the taxpayer more money, won't this add to the pot of taxpayer money that everyone is screaming about now? (ie.- the $700 billion + $140 billion pork added on)Is he saying he wants to spend more money on mortgage bailouts for homeowners that signed high risk loans? Why does he and others want to bail out these people with some of this money being paid in by people who DIDN't screw up and applied for legitimate loans that they could handle? Why give these irresponsible people a second chance to own a home and the financial lending places a second chance to make more bad loans and then, add insult to injury by asking the responsible people to help foot the bill?    ]]> Wed, 08 Oct 2008 15:34:25 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2290&title=franks-fannie#2290 Frank's Fannie : Hey Vet I look at this election... http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2287&title=franks-fannie#2287 Author: Pacman
Subject: 586
Posted: Oct 08 2008 at 2:46pm

Hey Vet I look at this election as the lesser of two evils.  I am not happy with either candidate.  I don't see Obama as having the plan to fix the world or even just the US of A.  McCain is only marginally better on some issues.  Just got this from McCain:
 
  My Friends,

Millions of Americans on Main Street are feeling the effects of our current economic crisis largely brought on by corruption and greed at Fannie Mae, Freddie Mac and Wall Street. Our next president must come into office with a plan to address the very root the failing housing market.

Last night, during my debate with Senator Obama, I announced my plan to fix the root of our problem and I'd like to share a little more with you today.

If elected president, I will direct my Treasury Secretary to implement an American Homeownership Resurgence Plan to keep families in their homes, avoid foreclosures, save failing neighborhoods, stabilize the housing market and attack the roots of our financial crisis.

America's families are bearing a heavy burden from falling housing prices, mortgage delinquencies, foreclosures, and a weak economy. It is important that those families who have worked hard enough to finance homeownership not have that dream crushed under the weight of the wrong mortgage.

For those that cannot make inflated payments or their mortgage exceeds the value of their home, mortgages must be re-structured to put losses on the books and put homeowners in manageable mortgages.

This Resurgence Plan would purchase mortgages directly from homeowners and mortgage servicers, and replace them with manageable, fixed-rate mortgages that will keep families in their homes.

By purchasing the existing, failing mortgages the resurgence plan will eliminate uncertainty over defaults, support the value of mortgage-backed derivatives and alleviate risks that are freezing financial markets.

I am ready to lead our country out of this financial crisis and I am ready to work with anyone and everyone who will help. Together, I know we can work together to find solutions for these challenging times. Please do your part today and spread the word about my new plan by forwarding this email on to your neighbors, friends, family and coworkers. Thank you for your time and support.

Sincerely,

John McCain

P.S. Homeownership represents the very core of our American economic system. This is not the time for politics. We must move aggressively to provide relief and stability for all Americans
]]> Wed, 08 Oct 2008 14:46:59 +0000 http://www.middletownusa.com/forum/forum_posts.asp?TID=586&PID=2287&title=franks-fannie#2287