Comments on: The new standardized mortgage estimate http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/ A slice of lime in the soda Thu, 20 Jun 2013 02:11:39 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: voomies http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10732 voomies Mon, 04 Jan 2010 12:41:33 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10732 US Housing crisis will grow larger in 2010 as strategic foreclosures increase from the 25% of the total they are today. Why stay in a mortgage when your neighborhood is renting at 1/3 the cost of your monthly mortgage? See a wild California foreclosure story at http://storyburn.com US Housing crisis will grow larger in 2010 as strategic foreclosures increase from the 25% of the total they are today. Why stay in a mortgage when your neighborhood is renting at 1/3 the cost of your monthly mortgage? See a wild California foreclosure story at http://storyburn.com

]]> By: picomanning http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10688 picomanning Sat, 02 Jan 2010 22:44:52 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10688 Better forms? More forms? Plainer language forms? Why do I have the feeling that something's increasingly rotten in Washington? Does Congress have similar forms when they borrow? Let's face it, Congress desperately needs some kind of similar form! If our 'elected borrowers' truly understood the costs of their borrowing, the consumer would never have need to play this implied and absurd role of dumb-ass. Better forms? More forms? Plainer language forms? Why do I have the feeling that something’s increasingly rotten in Washington? Does Congress have similar forms when they borrow? Let’s face it, Congress desperately needs some kind of similar form! If our ‘elected borrowers’ truly understood the costs of their borrowing, the consumer would never have need to play this implied and absurd role of dumb-ass.

]]> By: Uncle_Billy http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10679 Uncle_Billy Sat, 02 Jan 2010 07:15:00 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10679 It would be interesting to take a look at the performance of Australian loans in general. Specifically, Macquarie pushed out a first lien line of credit, especially in Australia, which tempted people with moderate to good credit, to max out their loans. It was accompanied by an explanation of how, *if used properly*, one could save far more money over a traditional loan. Did it end up getting used properly? It would be interesting to take a look at the performance of Australian loans in general. Specifically, Macquarie pushed out a first lien line of credit, especially in Australia, which tempted people with moderate to good credit, to max out their loans. It was accompanied by an explanation of how, *if used properly*, one could save far more money over a traditional loan. Did it end up getting used properly?

]]> By: Mega http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10665 Mega Fri, 01 Jan 2010 16:41:28 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10665 Perhaps the time has come to do as the Australians do and make home mortgages full recourse. That would certainly focus the deliberative faculties of prospective borrowers. Then again, as nyetter said, if you don't have those faculties to begin with, you have no business assuming a mortgage. Perhaps the time has come to do as the Australians do and make home mortgages full recourse. That would certainly focus the deliberative faculties of prospective borrowers. Then again, as nyetter said, if you don’t have those faculties to begin with, you have no business assuming a mortgage.

]]> By: Uncle_Billy http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10654 Uncle_Billy Fri, 01 Jan 2010 01:08:33 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10654 Does this mean that all residential real estate is *not* going to be pre-privatised? Does this mean that all residential real estate is *not* going to be pre-privatised?

]]> By: wcw http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10653 wcw Thu, 31 Dec 2009 23:02:39 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10653 If only he were: ownership rates would be in the low 20s and the residential real estate bubble would have popped with no systemic effect. If only he were: ownership rates would be in the low 20s and the residential real estate bubble would have popped with no systemic effect.

]]> By: Dollared http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10647 Dollared Thu, 31 Dec 2009 20:08:31 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10647 Nyetter, I am glad that you are the self-appointed gatekeeper to the world of home ownership. Nyetter, I am glad that you are the self-appointed gatekeeper to the world of home ownership.

]]> By: Publius http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10646 Publius Thu, 31 Dec 2009 19:51:09 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10646 Do you really think this will make a difference? Can you be so naive? I used to listen to Bruce William and he *always* recommended bringing your own lawyer to a closing. *Always*. What has changed? Bruce is no rocket scientist and never made himself out to be sophisticated. But what he said made sense. It cost a little more, but it protected people. But they don't get their own counsel because they're cheap. Then they get ripped off by unsavory dudes. And they they blame the system for not protecting them. Predatory lending: stop me before I borrow again! Do you really think this will make a difference? Can you be so naive?

I used to listen to Bruce William and he *always* recommended bringing your own lawyer to a closing. *Always*. What has changed? Bruce is no rocket scientist and never made himself out to be sophisticated. But what he said made sense. It cost a little more, but it protected people.

But they don’t get their own counsel because they’re cheap. Then they get ripped off by unsavory dudes. And they they blame the system for not protecting them.

Predatory lending: stop me before I borrow again!

]]> By: nyetter http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/comment-page-1/#comment-10640 nyetter Thu, 31 Dec 2009 18:04:12 +0000 http://blogs.reuters.com/felix-salmon/2009/12/31/the-new-standardized-mortgage-estimate/#comment-10640 If you can't read a typical GFE you have no business buying a home, period. If you can’t read a typical GFE you have no business buying a home, period.

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