Registered Member #21 Joined: Tue Oct 03 2006, 02:19AM : Posts: 6881
I worked in the mortgage industry from 1983-1987 and can tell you that down payments were required, PMI if over 80% LTV, and credit history and income were important.
Registered Member #1154 Joined: Wed Oct 24 2007, 10:30AM : Posts: 2271
3B wrote ...
I worked in the mortgage industry from 1983-1987 and can tell you that down payments were required, PMI if over 80% LTV, and credit history and income were important.
Yes but the down payments were too low, and the people who were getting the loans did not understand "variable rates". BTW, I appreciate your varied career, but '83 to '87? How come? It was after that that Clinton took office, and "things" really changed when the Democrats controlled both houses 2 years ago. Under Fanny Mae and Freddie Mack, there was no checking to see if the folks even had a job to be able to own in the first place. It was Jimmy Carter that caused the first big downturn in Real Estate in the years prior to your experience. Boy do I remember that!
I worked in the mortgage industry from 1983-1987 and can tell you that down payments were required, PMI if over 80% LTV, and credit history and income were important.
Oh, so you are a quitter from that job/industry? Just like you accuse Sarah of being.
I worked in the mortgage industry from 1983-1987 and can tell you that down payments were required, PMI if over 80% LTV, and credit history and income were important.
Yes but the down payments were too low, and the people who were getting the loans did not understand "variable rates". BTW, I appreciate your varied career, but '83 to '87? How come? It was after that that Clinton took office, and "things" really changed when the Democrats controlled both houses 2 years ago. Under Fanny Mae and Freddie Mack, there was no checking to see if the folks even had a job to be able to own in the first place. It was Jimmy Carter that caused the first big downturn in Real Estate in the years prior to your experience. Boy do I remember that!
Good point Geezer!
Wow, a whole four years! Well, that is about six times longer, or so, than the current Pres. served in Congress before he hit the campaign trail!
Gotta admire the dedication of some of these guys!
Registered Member #102 Joined: Mon Oct 30 2006, 01:06PM : Posts: 581
Geezer wrote ...
I respectfully disagree. There would not be such a large deficit. the "bail outs" have failed to "manufacture jobs, unemployment is up, my health insurance benefits are far less, my deductible is up, my out-of pocket is up, I have been "laid off". I do not think we would have such a dismal situation if Obama and the far left were not ruining, er running our country!
are u not forgetting the economy was already crashing and near its worst before obama got into office? blahhh lol. No president can fix the economy, the American people need to fix the economy. We need to learn to trust each other with business again and not be afraid to invest. Its all the media scare tactics that made this economy fall apart even worse then it would of in the first place. Sorry to hear about your healthcare, mine hasnt changed, actually it got a little cheaper this year, hmmm maybe its just pacificare [Click Here]
Registered Member #21 Joined: Tue Oct 03 2006, 02:19AM : Posts: 6881
Luna wrote ...
Oh, so you are a quitter from that job/industry? Just like you accuse Sarah of being.
Why that's just cRaZy!!
Difference: Ms. Palin elected to an office/job by voters who thought she was committed to serving them. The mortgage industry was my second job at the time. I was under no contract or elected position. Wait, I was elected to bring doughnuts on Fridays.
Registered Member #1154 Joined: Wed Oct 24 2007, 10:30AM : Posts: 2271
Geezer wrote ...
" eight years of Bush II that we saw very little in regards to regulation?"
That's right, less "government knows best" is always a good policy, and way more fiscally sound policy. The Bush bashing is not gonna work. Remember who was in office before that! That's where the responsibility for the lending companies Fanny May and Freddie Mack folks were encouraged to make sure that "everyone owned a home", whether they could afford it or not.
"Rome was not built in a day." No but it sure as burned down while Nero was an ineffectual and incompetent ruler.
I repeat...maybe the short term memory loss is affecting Mr. Puffs.
Registered Member #102 Joined: Mon Oct 30 2006, 01:06PM : Posts: 581
Geezer wrote ...
Geezer wrote ...
" eight years of Bush II that we saw very little in regards to regulation?"
That's right, less "government knows best" is always a good policy, and way more fiscally sound policy. The Bush bashing is not gonna work. Remember who was in office before that! That's where the responsibility for the lending companies Fanny May and Freddie Mack folks were encouraged to make sure that "everyone owned a home", whether they could afford it or not.
"Rome was not built in a day." No but it sure as burned down while Nero was an ineffectual and incompetent ruler.
I repeat...maybe the short term memory loss is affecting Mr. Puffs.
not sure where my memory was lost. But i do remember that when Clinton left office our economy was in the best shape it had ever been and was one of the few presidents that left office with a budget surplus, when coming into his presidency with a large deficit, which quickly became a massive deficit after about 4 years of Bush jr;) im just stating the obvious, numbers dont lie. Bottom line no president nor government will fix or be able to fix the economy, its all in the heads and hands of the american people who are only tearing the lines of trust between one another more and more everyday, and i assure you, this will eventually lead to the falling of our nation from the worlds super powers if it continues. No country can conquer and lead when it cant even handle its own issues at home.
Registered Member #21 Joined: Tue Oct 03 2006, 02:19AM : Posts: 6881
Coco, you are NOT the one with memory loss. Under Bush II the GOP's controlled the Senate from 2001-2007 (in 2001-2 it was 50/50 with VP Cheney's tie vote giving the GOP's an edge). The House was controlled by the GOP's from 1994-2006. Bush II had control of all three for most of his two terms. Clinton only had two years in the beginning.
Big Bear Pilots - Young Eagles
Mr. President, where are you?
burned down while Nero was an ineffectual and incompetent ruler.
