FHA Messes Up 10,000 Loans
M H G A – Making HUD Great Again :-0
most stupid loan officer advice! same garbage advice i heard from “experts” and I even closed these loans. screw the experts, take your lending/finance advice from people with no skin the game. i still remember experts hocking NINA and SISA option arms with 4 point ysp in 2005, i still remember NAR commercial saying 2006 was great time to buy,. The correct answer: the payments are to much, sell the toys and/or budget to pay them off quickly. to get value you need comps. to get comps you need home sells, to get home sells you need financing (Artificial low interest rates, billions of dollars worth of MBS being purchased by the federal government every month, federal and state loan program changed to prop up declining markets i.e. FHA to 750k?.) that equity is faux. do not get a equity trapped and payment for 30 years on revolving debt and short term debt that can be eliminated in a few years thru budgeting, PT work, selling the toys.
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