I didn't ask for a history on ARM's, but thanks for telling me what I know already. I remember calling to see if I could qualify for a home loan and the lender told me I could afford a 220K home. I said "No I can't." He said I could if with ARM. I'm pretty sure I wasn't the only person they tried that on.
Same place I took the liar who said Bush did not save the auto industry with his 17.4 Billion dollar bail out. I will play this game a bit longer. Tools to cure a bad economy? Amount and in what way would Obama save a bad economy? Second how long did Obama allege the recession lasted. Could he cure it in a couple of months yet Trump could not?
I understand that you are big on figures, but your link and the data you typed do not agree. For example, 2013 should be 47,636,000, not 47,636.
If you took the ARM, at any point, at the very least you have a bit more of an idea than most Democrats have on how it works. No you do not seek information. Why would you when you can try to smart mouth me. I am pretty positive I am the expert here on this forum. So you experienced this with one lender. And you gave up and refused to buy the home. The ARM had plenty of conditions. First the borrower had to actually pass a small course to ensure the borrower comprehended the loan. And the first ARMS were tame. Later down the line when Fannie and Freddie got the idea they were ways to make profits for them, they crashed the market with more of them. Do you think we lenders dreamed them up or did we simply use the tools handed to us by Fannie and Freddie? Easy peasy. We looked at what the offerings were and since most of us are honest people, (shock and when I tell you why we are, you might learn something new) explained the pro and cons of loans that our borrowers could fancy. Some wanted the ARM due to them moving in 24 months or less. They wanted to save upfront money. Others played for the longer term home ownership and no way (you proved it) would they accept an ARM. You were not the only party to duck one of them. As to them trying something. Buyers and borrowers come in all shapes and needs. Those who love risk do risky things. Those more conservative do what you did. Say are you a conservative? Now why were there so few crooks and the vast majority of us were honest? First CA and many states ensure the Borrower is first. We are fiduciaries for the borrower. We owe the duty to the borrower of dealing as if we were the borrower. It is a heavy duty to bear as it is for your own lawyer or your doctor. But we were told law not to harm the borrowers. Say we did harm the borrower. CA has a fund to pay harmed people and does prosecute lenders and RE agents. Crime happens. But most of the industry is not interested in crimes but want careers.
Tell you this much. I shall spend time using my own resources to get to the truth of this. if you are accurate, you will get credit. As to the drops of wetness, try to relax and don't tell me the pee is rain. Your first error is calling it a Bush bubble. I wanted to show a bit wider spectrum than you show. But trust this, i do have market tools at my disposal that will prove or disprove your claims. Even if you are correct, nothing in those numbers is linked to Obama.
Lol. So, a bunch of people got massive loans in January 2017 and lived happily ever after? Is that it?
Dodd Frank still is a heavy burden and i notice the number of brand new lenders who were not in business during Bush. So new lenders do not understand how it was during Bush. They can assimilate to Obama's rules that much easier. But for Dodd Franks, my own loan business would be soaring. Sadly due to that law, not going to happen.
I didn't know you were in the racket. But what does any of this have to do with a drop in food stamp use?
Diversions above by others. By they way, would you call your doctor as being in the racket? I have always put my clients number 1 and been an excellent fiduciary for them. Woe to lenders who put themselves first for they drive away business.
Here's my thing friend. Clearly 2008 was a bitch, esp for those heavily invested in realestate. A lot of normal people who went upside down ended up in a circumstance where they needed help. Keeping in mind that people who were used to being helped were given home loans they shouldnt have, which is what caused this... we need not address the CRA. Point is, the surge makes sense. The decline from that, like the economy, has been stagnant. Under trump it is more than doubled. You have inadvertantly pointed out the disparity between the two approaches, so... thanks for that.
No....nobody pretends that this trend was created in a vacuum. Its the 63 economists, you know the same ones that rated BO the peeps economy. That says Trumps lowing of corporate taxes and cutting damn near all of BO the peeps regulations is the major cause for the good news.
Oh you mean Bilbo Clinton wherein the leftness didn't want to look at what Papa Bush did. But now want to give the Peep credit? So.....you just don't want to give Trump any credit. Despite the same economists that rated the Lefts Special Man. Giving Trump the credit he deserves.
12 MILLION fewer on food stamps when Bush left office vs when Barry Hussein left office. I know...........I know...........all the bad things that happened on Obama's 8 year watch was Bush's fault..............all the good things Trump has done is the result of the Messiah Barry Hussein.
Its bad news for democrats who used the food stamp fund as their own personal reelection piggy bank. planned parenthood is another democrat slush fund.
It is true that for at least the past two decades, we Americans have been less and less able to meet the growing demand for qualified, educated, experienced people to take "STEM jobs" (Science, Technology, Engineering, Math). I put the blame squarely on our "education industry", which has been doing a really piss-poor job of educating Americans for at least the past 40 years.... ."Dude! I got cool tats and Facebook friends... what else could I need...?"
I do feel bad for the additional 12 MILLION put on food stamps on Barry Hussein's watch. Why is that "right"? Good thing Barry is gone and we have Trump in office reducing those rolls.
That would be weird considering he really did do that. tools? Monetary policy, Tax Changes, things of that nature. Depends on what you mean by 'save'? Did he (and Bush) sign stimulus packages that absolutely kept the US Economy cratering outright? Yes. Was it enough and did it go to the right places for the best bang for buck? Debatable. how did it or how long did Obama allege? The Technical Economic Recession only lasted Dec 07 to June of 09. But the countries Economy didn't really start turning around and getting moving until 2013 (which, interestingly enough, coincides with the peak of SNAP benefits users) He didn't cure it in a couple of months. It took about 2 and a half years to get things out of the basement. It took almost 6 years to get it turned around outright. I doubt the US Economy, with all its size and scope, could ever make a complete turn in either direction in only a couple of months. That's like trying to do a ski-do style turn around in a massive cruise liner. Thanks. I forgot to add that each number is in the 'thousands'. Though I hope that nobody on this board would think that there are literally only 47K people on SNAP Benefits. I'm sorry, which approaches were considered by which there is a disparity? The economy didn't really start turning around until 2013. Once that happened, literally Every aspect of the US economy started pumping hard. Now it's 2018 and it's running full bore.
Heavily regulating and taxing, vs deregulation and tax cuts. More money in the businesses means more hiring etc. The economy was crawling, not pumping hard. The minute trump was elected futures and confidence went through the roof, the market started pegging and has set record after record. Stagnant growth was the score to the obama show... unprecidented growth is this presidents soundtrack. I dont care how you feel about either, the dichotomy is stark and undeniable when tethered at all to reality.
That's the magic of Trump's Tariffs and Taxcuts! Chi-Coms Realized Oil Tariffs Would Be Like Holding a Gun to Its Own Head
