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NewDayUSA.com

CaptplaidCaptplaid Member Posts: 20,298 ✭✭✭
edited May 2017 in General Discussion
I am sick and tired of home loan commercial for veterans. I have to ask one question.

Is loaning 100% of the loan instead of 80% predatory lending?

Have we learned nothing from the hosing bubble?
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Comments

  • redneckandyredneckandy Member Posts: 9,716 ✭✭✭✭
    edited November -1
    quote:Have we learned nothing from the hosing bubble?

    Nope! Prices are soaring once again and I would guess we are a few years away from the next big crash.
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  • 1911a1-fan1911a1-fan Member Posts: 51,193 ✭✭
    edited November -1
    it is happening now and trump will get blamed, but obomo started it in 2012 with each year after lightening up the rules


    how do i know ? because i just jumped through hoops to get refinanced at 2.00001% and all the statements had obomo's name on it, 2016 they went back to stated income as one of the previous criteria that was cut out after the last crash
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  • SW0320SW0320 Member Posts: 2,548 ✭✭✭✭
    edited November -1
    VA loans in my opinion are more predatory than any bank. The VA charges a fee for their guarantee.

    The VA guarantee fee gets tacked on to the loan so your monthly payment is higher for the next thirty years and you pay interest on the fee.

    All that just do that you can finance 100% of the purchase.
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  • spasmcreekspasmcreek Member Posts: 37,717 ✭✭✭
    edited November -1
    i owe nobody nothing and never intend to....and own 3 nice homes
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  • bpostbpost Member Posts: 32,669 ✭✭✭✭
    edited November -1
    It only took 8 years to get right back to insanity in the housing market. Housing in Seattle is a prime example. People listing a house for 650K that needs 100K in work and some cash flush dolt offers 150 OVER asking price, as is, cash to close in 10 days.

    My son just bought a nice home in Seattle. What he paid blows my mind.
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