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Author: [Politics] Topic: Obama makes speech outside some guy's garage ............
SarasotaSlim send a private message View Space | Blog | Friends | Playbook |
SarasotaSlim
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#1
Posted: 5/13/2012 12:46:05 AM

No styrofoam Greek columns... The leader of the free world is finding it hard to draw a good crowd these day's ....Obama draws only 60 or 70 neighbors lined up two deep outside someone's garage in Reno..

 

Obama visited Val and Paul Keller on Friday. The White House described them as “responsible” homeowners who owe more on their mortgage than their Nevada home is currently worth.

They owe $168,000 on their mortgage, but their Reno home is currently valued at $100,000.

According to Washoe County records, the Kellers purchased their home in June 1998 for $127,000. So why do they have, according to the White House, a $168,000 mortgage?

White House officials now confirm ,that the Kellers did a cash-out refinance in 2007, when their home had appreciated to $250,000. ...

 Are these the “responsible” borrowers that the administration is looking to help?

 They took out a $178,000 loan, using the $51,000 to pay down debt on the family construction business, so Paul could retire. Had they not taken that money out, and continued paying on the original mortgage, they would not be underwater today.

 

Honey... do you want to go across the street to the Keller's and see President Obama ?

No Virginia.. I think, I'll stay here and  finish watching this infomercial ..

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SarasotaSlim send a private message View Space | Blog | Friends | Playbook |
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#2
Posted: 5/13/2012 10:24:05 AM

Paul and Val Keller said -  they  voted for Obama in 2008,but they were not sure if they would vote for him in the coming election .... 'I don't know yet, ( Val answered when asked how she'll vote .) 'I want to wait and see what happens in the economy,'...........( Yeah!  Val it should change a lot in the next 6 mths)..

Despite this benefit, and a one-on-one meeting with the Garage Sale- in-Chief President in the couple’s kitchen, the couple reported themselves still divided on who they expect to vote for come November.

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be easy send a private message View Space | Blog | Friends | Playbook |
be easy
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#3
Posted: 5/13/2012 10:37:33 AM
obama wants to make their home more affordable, by using taxpayer money,,,to make the price go higher

at least, this time, his solution will work, right?

click

The number of Federal Housing Administration-insured home loans entering foreclosure jumped in March after half the mortgages it modified to ease repayment terms were in default again a year or more later.

surely no one could have predicted that this would happen
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SarasotaSlim
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#4
Posted: 5/13/2012 10:49:14 AM

Cash reserves, required by Fannie Mae and Freddie Mac to show a borrower’s ability to pay a mortgage if a hot water tank bursts or if the roof leaks, aren’t required for many FHA loans...................

Makes sense..why plan on something going wrong ..and making sure the borrower has the funds to pay for it ..if you do that you're just looking for trouble to happen..

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be easy send a private message View Space | Blog | Friends | Playbook |
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#5
Posted: 5/14/2012 11:44:52 AM
It's different this time
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#6
Posted: 5/14/2012 12:15:51 PM
QUOTE

Originally Posted by be easy:

It's different this time

Right,a different subprime lender ..a few years ago FHA was 3% of the market ..today they are 50%..

Under Obama plan, an FHA-qualifying homebuyer with a low credit scores [ FICO scores above 580 can apply] for a 30-year mortgage with a fixed interest rate of 3.75%.. and only a 3.5 % up front down payment of the home’s value ..

Private banks cannot compete ..

Sounds like a plan ..what could go wrong ?

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#7
Posted: 5/16/2012 10:36:05 AM

cant run on his record

 

sooooooooooooooooooooo: ARE YOU IN?

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