patrick.net

What a populist!!

It went from $77 in my case, to I would pay $225 today if I took out a Mortage and it would never roll off. Mine rolled off at a certain point.

from article:

And some analysts thought its impact on drawing more borrowers in would be limited. Laurie Goodman, co-director of the Urban Institute’s Housing Finance Policy Center, told MarketWatch that there were other steps FHA could take to entice more lenders to make mortgages, such as limiting its legal actions under the False Claims Act.

Many big banks have quit lending through FHA after being slapped with heavy fines for what they perceive as minor infractions of its rules. One large lender, Quicken Loans, sued the government after being threatened with lawsuits for infractions.

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Sounds like fha tax cut is really pandering to LCDs, particularly when a likely Clinton supporter(Laurie goodman) says that the tax cut is of limited value.

Ironman says

Yep, Obama was pandering to HIS base, the ones who still live in mom's basement.

Yes, because there is nothing guys who live in Mom's basement want more than a cut in their mortgage insurance payment.

I say do away with mortgages. It's cash or FUCK YOU!!!

This is awesome. I think my erection will last for 8 years

Ironman says

Yep, Obama was pandering to HIS base, the ones who still live in mom's basement.

I guess, but I think it is more Bernie sanders base than obama/clinton...DNC fucked up because they are unable to see which direction the wind was blowing and rigged election for wrong candidate...but the women's marchers among others, couldn't figure that out since they are removed from concerns of "everyday people"

Ironman says

Did you forget about Peggy Joseph, the one that went to Obama's inauguration stating that Obama was going to pay her mortgage and gas bill?

How can anyone forget someone so stupid?

Trump Suspends Obama's Mortgage Insurance Cut :)

Just a day in office, and already pure awesomeness. This move was long overdue. No more fake subsidized loans.

Ironman says

Did you forget about Peggy Joseph, the one that went to Obama's inauguration stating that Obama was going to pay her mortgage and gas bill?

Yeah but that was just CNN dumpster diving finding the lowest of LCD for a sound bite to make Obama sound better than he really is

Any Republican that can't pay cash & has to suck dick(pay interest on a loan) is a LOSER!

mell says

No more fake subsidized loans.

I agree.

rando says

mell says

No more fake subsidized loans.

I agree.

The lower middle and middle-class may benefit most from this. People like teachers who were completely priced out even with the insurance cut in place who have to hope to win the low income lottery now may get in reach of a regular mortgage as house prices will dip or at least stall from all those buyers dropping off the market that were only qualifying due to the cut and putting undue pressure on cheap(er) starter houses. Supply and demand.

It is decisions such as this that may kill the momentum buyers (e.g., flippers) that has been driving speculative prices. So, it's not necessarily about the exact dollar impact of this decision, but more about it being symbolic that the tide is turning and the momentum may be as well.

Obama subsidies caused real estate market to balloon. See how it works in free market without subsidies.

FortWayne says

Obama subsidies caused real estate market to balloon. See how it works in free market without subsidies.

Wrong.

joeyjojojunior says

If you look at supply and demand, you have to look at total properties vs. total households. It's really all one market.

Which is why the only real solution is to build build build.

mell says

Just a day in office, and already pure awesomeness. This move was long overdue. No more fake subsidized loans.

Long overdue?

Obama had only instituted the small cut about a week ago, to try and offset the much larger rise in rates since the November elections. Trump just rolled it back