Profile picture for hak004

what are the new guide lines for 2014

I am hearing alot of different things about how hard it will be to buy a home in 2014, but i am not finding any information
  • November 19 2013 - La Porte
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Answers (4)

Profile picture for CallTheSisters
@Hamp

Well said.  Our government is only interested in herding us through the chutes to a total Nanny state.

Don't forget one of those authors of Dodd Frank was Ole Barney Frank who testified all was well with Fannie shortly before the collapse.  Screw it up, then come up with a bill to screw it up some more.
  • November 20 2013
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The Federal Government is going to make getting a Mortgage harder than getting Health Insurance, or filing your taxes, if they haven't already.

Bet big on that fact.

There are several loan regulations that are scheduled to kick in at the end of the year. They are too complicated to explain, briefly. They will put Banks in an even more monopolistic position, and render them even more too big to fail. If this offends you, call your Federal Representatives and cuss them out. Tell them Hamp said hey, too.

If you are about to buy a house, plan on it being a nightmare of epic proportions. Lenders would like to be loosening guidelines but the Dodd Frank Gestapo will not let that happen, because you need to be protected from your simpleton self, by power drunk do-gooders with unlimited reach. There is a current debate as to whether, or not, Congress can even stop them from enforcing the new rules as of Jan1. Thanks, Wall Street. Thanks, Barney and Chris! Thanks, Barry O!
  • November 19 2013
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Profile picture for hak004
I fully expect intrest rates to increase, they can't stay down forever. I am talking about the hoops that buyers will have to jumo through, as far as credit score, debt to ratio, etc.
  • November 19 2013
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Guidelines change....but there is not always notice of the changes.
At some point we expect interest rates to go up.
You have to think if Freddie Mac and Fannie Mae go away and we borrow from private investors, they are not going to lend money at the low rates we enjoy today.
  • November 19 2013
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