Proposals to phase out Fannie Mae and Freddie Mac may make 30-year fixed-rate mortgages harder to find, housing experts say.
There is a lot of uncertainty about the process of phasing out Fannie and Freddie and how it will affect mortgage products, Barry Zigas, the director of housing policy at the Consumer Federation of America, told The [URL=“http://www.nachi.org/topics/detail/456/new-york/”]New York Times.
Banks are paying much more attention to the governments lending rules.
Last year, I might have gotten two or three requests down here for VA/HUD engineer certifications for foundations…and I have had five since last Friday. Now that they know that can’t pass the paper off on someone else without accountability, things are different and more "i"s are being dotted and "t"s are being crossed.
With all the printing going on, inflation is going to go through the roof. Take out a 50-year loan if they’ll give it to you, and pay it back with toilet paper (U.S. dollars).
Don’t pay off any mortgages, try to refinance and borrow as much as you can to buy hard assets (gold, silver, raw land, heavy equipment, etc). U.S. dollar going down the drain.