Mortgage industry changes throw new hurdles in borrowers' way

NEW -> Contingent Buyer Assistance Program
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Anonymous_IHB

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<A href="http://www.latimes.com/classified/realestate/news/la-fi-harney19-2009apr19,0,6099613.story">http://www.latimes.com/classified/realestate/news/la-fi-harney19-2009apr19,0,6099613.story</A>
 
i assume that with these extra fees being rolled into the loan what would have been an 80%LTV mortgage is now an 85%LTV mortgage. sounds to me like fannie and freddie just added a 3 to 5% cushion.

does anyone know if these extra points are going to be tax deductable?
 
That's what happens when you want to borrow in a declining housing environment...lenders and Fannie tighten up. Just another reason I'll wait till the dust settles and these guys relax their underwriting standards a bit and get rid of the junk fees.
 
[quote author="24inIrvine" date=1240208276]At least they are adjusting their debt to income ratios. 41% from Wells Fargo for total debt still seems a little high to me.</blockquote>
Yup, especially with taxes going up.
 
You realize that Fannie and Freddie will go the way of the DODO bird in a few years and they are adding all these obstacles to slow the amount of loans they do as they do not want to do loans but only to the top 5% because when things get better the government is going to sell these entities and try to get some of their money back and do not want to be stuck with new crap. They already have a trillion dollars of crap that no one wants to admit to and no Tarp money will fix. And why these A@@holes now and before that run these companies are still making millions of dollars a year when a trained monkey can do the same job just makes me sick, and i wish nothing but ill will for all these dirty executives who run these companies as that that they have rear ended the American taxpayer. So burn all you executive dirt bags the karma will come and take you.
 
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