One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

[Crabtownboy]

And so one of Trump's first acts will take money away from those people who supported him.
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From: http://www.huffingtonpost.com/entry...us_5882765ee4b0e3a73568f0a4?tt04peymcm84r6bt9

With one of his first orders, President Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

 

[777]

Well, if this plan was so great, why did Obama wait until last week to order this cut? I think he was just poisoning the Trump well here, but this decision will have little to no impact, since the cuts never happened, they won't be missed. That being said, home ownership rates have plummeted under the Obama administration and something should be done to improve them.

 

[Crabtownboy]

That being said, home ownership rates have plummeted under the Obama administration and something should be done to improve them.

Fallout from the melt down that Bush brought on with his mismanagement and predator foreclosings by folk like Steven Mnuchin that Trump nominated to his cabinet.

 

[saved41199]

We lost our home in the housing meltdown. My dream home that we had slowly and lovingly restored and remodeled. We lost over 100,000 dollars. As a result, I will never buy a home again. Ever. My entire inheritance from my parents was tied up in that home. I thought we were being smart with a big downpayment (over 30% of purchase price) and the remodels and restorations were all paid in cash, little by little as we could afford it.

I still miss my home. The one that we planned to retire in. There's plenty of others like us who lost everything and now are at a station in life where buying a house is not a great idea, or are unbelievably gunshy.

 

[Crabtownboy]

We lost our home in the housing meltdown. My dream home that we had slowly and lovingly restored and remodeled. We lost over 100,000 dollars. As a result, I will never buy a home again. Ever. My entire inheritance from my parents was tied up in that home. I thought we were being smart with a big downpayment (over 30% of purchase price) and the remodels and restorations were all paid in cash, little by little as we could afford it.

I still miss my home. The one that we planned to retire in. There's plenty of others like us who lost everything and now are at a station in life where buying a house is not a great idea, or are unbelievably gunshy.

I am very sorry you lost your home. That had to be very painful and it was not your fault. I wish I had better words to help lessen the pain. My prayers are with you.

To me this early action by Trump is simply the extremely small tip of the iceberg of the pain he will inflict on the working class and the middle class; the very people who to a great extent supported him.

We, the world, has entered an era of populism and nationalism. One of the lessons of history is that is a very dangerous combination. Somewhere years ago I read that it is easier to persuade someone to "die for their country" through the flag or some other abstract idea than to get them to "die for their country" helping their fellow citizens have enough food, housing and medical care.

It seems that history is not studied by many people and the lessons are forgotten as soon as the generation that experienced and learned passes away. They the process begins over again. The lesson is learned and forgotten again. This process is repeated over and over and over.

As I said in a post some weeks ago, it is likely that Trump is the last president I will see in our country. I feel much sympathy for the world our children and grandchildren will inherit.

 

[Yeshua1]

I am very sorry you lost your home. That had to be very painful and it was not your fault. I wish I had better words to help lessen the pain. My prayers are with you.

To me this early action by Trump is simply the extremely small tip of the iceberg of the pain he will inflict on the working class and the middle class; the very people who to a great extent supported him.

We, the world, has entered an era of populism and nationalism. One of the lessons of history is that is a very dangerous combination. Somewhere years ago I read that it is easier to persuade someone to "die for their country" through the flag or some other abstract idea than to get them to "die for their country" helping their fellow citizens have enough food, housing and medical care.

It seems that history is not studied by many people and the lessons are forgotten as soon as the generation that experienced and learned passes away. They the process begins over again. The lesson is learned and forgotten again. This process is repeated over and over and over.

As I said in a post some weeks ago, it is likely that Trump is the last president I will see in our country. I feel much sympathy for the world our children and grandchildren will inherit.

Should be better than under President Obama, when he sold out American interests to other nation interests!

 

[saved41199]

It seems that history is not studied by many people and the lessons are forgotten as soon as the generation that experienced and learned passes away. They the process begins over again. The lesson is learned and forgotten again. This process is repeated over and over and over.

I heartily agree. Who was it who said that those who do not learn from history are doomed to repeat it? Due to my own family's histories, I have become a student of history, trying to understand why people would fall for certain things. I came to the conclusion that people are dumb and don't learn lessons they should learn. My father's parents left Germany just after WW1 and their families said they were crazy that things would get better...within 10 years they were ALL trying to leave Germany. Many of them didn't make it. My mother left Cuba. Her family all told her it couldn't be that bad, dictators came and went in Cuba. Her parents were never able to leave.

 

[Yeshua1]

I am very sorry you lost your home. That had to be very painful and it was not your fault. I wish I had better words to help lessen the pain. My prayers are with you.

To me this early action by Trump is simply the extremely small tip of the iceberg of the pain he will inflict on the working class and the middle class; the very people who to a great extent supported him.

We, the world, has entered an era of populism and nationalism. One of the lessons of history is that is a very dangerous combination. Somewhere years ago I read that it is easier to persuade someone to "die for their country" through the flag or some other abstract idea than to get them to "die for their country" helping their fellow citizens have enough food, housing and medical care.

It seems that history is not studied by many people and the lessons are forgotten as soon as the generation that experienced and learned passes away. They the process begins over again. The lesson is learned and forgotten again. This process is repeated over and over and over.

As I said in a post some weeks ago, it is likely that Trump is the last president I will see in our country. I feel much sympathy for the world our children and grandchildren will inherit.

he CANNOT be as bad for USA as Obama was, as that President an very nearly wreaked us financially, spirtually, morally, and in world eevnts!

 

[InTheLight]

he CANNOT be as bad for USA as Obama was, as that President an very nearly wreaked us financially, spirtually, morally, and in world eevnts!

Wait and see.

And stop derailing this thread.

Sent from my Moto Droid Turbo.

 

[Yeshua1]

Wait and see.

And stop derailing this thread.

Sent from my Moto Droid Turbo.

When is addressing falsehoods/accusations derailing a thread?

 

[InTheLight]

When is addressing falsehoods/accusations derailing a thread?

Just.Stop.

Sent from my Moto Droid Turbo.