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post #1 of 11 (permalink) Old 02-26-2009, 12:16 AM Thread Starter
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Open the floodgates

...

Quote:
http://www.sfgate.com/cgi-bin/articl...politics&tsp=1

After reading an article in Monday's Chronicle indicating that
many people holding the pricy mortgages common to the Bay Area would not be able to take advantage of low-cost refinances, Rep. Jackie Speier, D-Hillsborough, amended a bill scheduled for a House vote.

"After reading your article, I thought, this isn't going to work for California," Speier said.

"I've drafted an amendment so that rather than being limited to whether the loan was conforming at time of origination, it will be based on (whether it's conforming at) the time of (modification), which will take the limit up to $729,750 in high-cost areas. This should make more people in the Bay Area eligible."

Pelosi supports the amendment and the bill, which is expected to pass the House.

Last edited by mlfun; 02-26-2009 at 11:09 AM.
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post #2 of 11 (permalink) Old 02-26-2009, 07:36 AM
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This type of SHIT is wrong, totally Wrong on so many Levels. I say for those with that scale of a Mortgage, FU@K Them!! Eat your cake and get of the Stage........
post #3 of 11 (permalink) Old 02-26-2009, 09:34 AM
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BW, it's Un-American to demand that people live somewhere other than the neighborhood of their dreams. Think of all the folks who would be shut out of Monterrey, Manhattan, NW D.C., etc. It's not their fault real estate is so expensive in those areas. It should not be up to you and me who gets to live beyond their means.

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post #4 of 11 (permalink) Old 02-26-2009, 09:36 AM
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^golly

oversimplified again

sure feels good

warm and fuzzy

ah

life is great

when

answers

r

easy
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post #5 of 11 (permalink) Old 02-26-2009, 09:38 AM
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Oh, Poor Babies! F@CK THEM!!
post #6 of 11 (permalink) Old 03-04-2009, 11:07 PM Thread Starter
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!!! No bill needed !!!

Quote:
Most of the new details on Wednesday applied to the $75 billion modification program, aimed at keeping up to four million struggling borrowers in their homes. Notably, it was revealed that the program applies to loans with unpaid principal balances of up to $729,750, for an occupied single-family home. There was broad concern the figure would be set too low to help many in a high-cost housing state like California or especially the Bay Area, where as recently as the summer of 2006 median home prices exceeded that threshold in four of nine counties, according to San Diego research firm MDA DataQuick.

"They raised the limit," said Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University in Orange. "That's good news for Californians."

Housing plan loan limit could help Californians
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post #7 of 11 (permalink) Old 03-04-2009, 11:10 PM
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Why am I not surprised.
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post #8 of 11 (permalink) Old 03-04-2009, 11:15 PM
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Man am I glad I live on the east coast where the sky is blue all the time, and the ground never shakes, and we are immune to everything we believe doesnt exist unless its printed in the NY Times. Yeah right. People should live within their means and not buy crap they cant pay for. My paycheck doesnt stretch far enough for a multi-billion dollar bailout. I may have to sell my private jet that I use to go to Washington,DC when I ask for money because of terrible mismanagement. Boo-Hoo!

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post #9 of 11 (permalink) Old 03-04-2009, 11:27 PM
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If they can't afford it, move for Christ's sake...how is it our job to ensure that tey get to stay in these huge houses??

I'm not a real dickhead...but I acted like one in high school.
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post #10 of 11 (permalink) Old 03-05-2009, 12:49 AM
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Originally Posted by GogglesPisano764 View Post
Man am I glad I live on the east coast where the sky is blue all the time, and the ground never shakes, and we are immune to everything we believe doesnt exist unless its printed in the NY Times. Yeah right. People should live within their means and not buy crap they cant pay for. My paycheck doesnt stretch far enough for a multi-billion dollar bailout. I may have to sell my private jet that I use to go to Washington,DC when I ask for money because of terrible mismanagement. Boo-Hoo!
You hit the nail right on the head.... Here in the the gold coast (Southern Fairfield County, NYC and Northern Jersey) the common public lives in a bubble compared to the rest of the county...... I can wait to move for here...

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Last edited by ShaggyDiesel; 03-05-2009 at 01:09 AM.
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