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It's just the first part of the first wave of anti-populist, anti-progressive change he and his cronies are bringing.
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FHA only insures 16% of all mortgages so 84% are completely unaffected by this change. And if those 16% can't get a mortgage anywhere else, they should pay more for a mortgage as those premiums go into a trust fund to bail out the FHA again.
Same idea as a guy trying to buy a car with bad credit or little down. He gets hit with a higher interest rate.
Do what you gotz to do to get your loan and then refinance it two years later to get rid of your PMI and other crappy things.
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All he did was rescind Obamas order a few weeks ago. If Obama thought it was so great why did he wait 8 years to do it?
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When Congress didn't do what Obama wanted, he said that he would govern with his phone and his pen. He did just that.
Turnabout's fair play. Get ready for a lot more of it from Trump. Obama set the precedent, Trump will follow it.
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This is getting ridiculous.
All the idiotic blogs about trump and/or hrc are just a waste of energy. Here's the bottom line: trump won.
No I didn't support him but I didn't support hrc either and thought, and still think, both will be a disaster. But I'm willing to give the guy a chance and see how and what he does. If he completely fucks the dog fine then I'll bitch but right now he's been in office less than a day can we at least give him 90 days before either lighting our hair on fire or breaking backs in order to pat ourselves on the back for his win?
Atticus Finch
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Doesn't affect me at all.
I live in mothers basement. And my rv happens to be a shopping cart for when I travel.
Have Foty, will travel.
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It's gonna be fun and interesting to see how long he can keep dancing--saying one thing ("for the people") and doing another (screw the people), before the people figure it out.
And by the people that's the poor and working class folks that supported him
Since he rode in a wave of pissed off people, they are really going to be upset when they get that they've been scammed (again).
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^^^Or when they find out that Tramp personally owes millions to the Russians and/or Chinese. When he reduces or ends Russian sanctions without explaining why, well that's the dead giveaway (so to speak). Or that Tramp was really born in Scotland. Anyone ever seen his birth certificate?
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But since he won he won't release tax records to show his income from other countries. So great how he and his worshipers, I mean followers, say no one cares about the release. Yet the (biased?) polls show at least 60% of Americans want them released, and even 39% of Repubs. The best angle on his not releasing is his out right lie. When trumpy flat out said he would release them after the audit he knew this would not happen because either he won and would say just what he did, or if he lost he sure would have no reason to release them....typical win/win stack the deck.
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I think it was only the Depart. of the Interior official accounts. I'm glad the administration doesn't have more important things to worry about. Starting to feel good about government again.
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You are correct the rescinded decrease affects a small portion of mortgage loans. But, it does make the difference for some people to qualify. I have one in particular we qualified at the lower MI rate. Now, they do not qualify.
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If you wear a pink pussyhat, people will take your arguments more seriously.
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Wow it's true--hard to make that up; he did shut down an official tweet stream because it made him look bad (by telling the truth that his inauguration was less than 50% of Obama's attendance). Didn't accomplish much since it was also in the New York Times, except making him look whiny and thin-skinned again.
Restricting information, shutting down social media, trying to hide inconvenient facts--that's right out of Russia or China or any of your dictators.
Has he heard of WikiLeaks? Social Media? A pissed off press? All watching every move...
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Trump has already done a lot of stupid things that hurt the economy. This mortgage thing is one--as someone said, people who were set to buy homes last week can't now.
I know people in management for defense contractors who have cut back on hiring, hours and purchases directly because of Trump's wishy-washiness and uncertainty about future. People are being laid off.
He's inherited an economy picking up steam and immediately putting the brakes on hard...and the worst part is it seems to be just incompetence and lack of understanding about how the economy works.
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Lol
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The incompetence, pettiness and think-skin of DT already are shocking, trying to pass off a fake photo, covering up the truth, punishing people for doing their jobs.
What's worse if you are familiar with the sort of mental disturbance hew has, is that he most likely believes his own lies. He will have a black/white or whit-me or against me mindset, so there may be purges, payback and he'll try to blame anyone or everyone but himself when things go wrong.
Scary stuff...
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But this time he can't blame no one but him and his cabinet
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DR, we'll see. He's a master at reframing a discussion and shifting things so it's not about him, even when it is totally about him and his screw up. There's hopefully a limit to how often and how blatantly he can get away with that... hope he's hitting the limit about now.
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Bottom line is, it will cost Americans more for FHA backed loans. Interest rates also just recently went up. So much for giving back to the people. This will make banks more competitive, some of which Trump has debts with.
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So what you guy's are sayin....................it wasn't a good idea I voted for Trump.
Dammit! Stoopid Stoopid Stoopid!
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The majority of the people benefiting from FHA loans...
are the same ignorant red-state red-neck fucks who voted for him. Gonna laugh when he cancels all the farm subsidies keeping them afloat too. Gonna laugh harder when they realize it's been socialist programs all along that have kept the small family farms afloat since 'New Deal' times. Funny how a lot of the shit-bags screaming loudest about "evil socialism, evil communism" in American government, are the same idiots whose economic survival depends on those programs.
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JD - your math is incorrect. But I get your point. It is based off of the loan amount. Around here, you are talking more like $150 a month. $1,800 a year.
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I would answer you but I'm LMFAO at Sean Spicer at the very first press conference of the Trump Administration.... Can't wait for the next one.
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It was not a price break on mortgages.. it was a rate reduction on FHA mortgage insurance. This, as I hope many of you know, is required when people have too high of a loan to value. This "great break" was enacted by the Obama administration less than 2 weeks ago. Such a great thing for the people? Where was it 7 yrs ago?
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Po people shouldn't have mortgages. Didn't anyone learn from the last cycle?
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And the most egregious incident of the day was Melania's public biography summary carrying a mention of her jewelry line "available on QVC." Got to get that thrading in when you can, even for the first lady.
Before the usual people go ballistic, I'm just kidding about it being egregious...it's just typical Tramp unethical behavior. The Rep.'s are absolutely correct. WE DON'T NEED NO STINKING ETHICS OFFICE!
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If you think the 2 party system represents 300+ million people...
I LOL at that lack of logic.
Keep blindly following the status quo though. Even if its against your own best interest's.
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