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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: nextrade! who wrote (3500)	7/20/2002 12:06:40 PM
From: John Chen	Respond to of 306849

nextrade,re:"Skip-payment loans". I told you, it's coming. The force is coming. I don't know much about ECON, but I'm old enough to smell something fishy. I sincerely hopes there is no conspircy, evils to drag us into some kind of war. You know how things go and I'm really scared about this 'whole setup'. It's not funny. We are going to pay the FULL-PRICE of lose credits on ANYTHIG during the Clinton Era: o morality o money Sorry Clinton, you got a 'bad crowd' of people to work with. Or did you have a choice?

To: nextrade! who wrote (3500)	7/20/2002 12:18:01 PM
From: John Chen	Read Replies (1) \| Respond to of 306849

nextrade,re:"innovation"...Aggressive, ring a bell. We have corporations and we have government. Which country is TomCruise going to bring up his family? What is he seeing, hearing to come up with that idea? I thought he is just good looking and not suppose to be smart.

To: nextrade! who wrote (3500)	7/20/2002 2:13:51 PM
From: J. P.	Read Replies (2) \| Respond to of 306849

I have an idea, how about the "Don't pay at all, no money down mortgage"? This is how it works.... You purchase the home at say 300K at 7% interest. Then you never make payments, but you live in the home. However, Fannie Mae continues to bill your loan for interest and tacks it on to the end of your loan. And here comes the beautiful part: Fannie Mae books the interest you would have paid as PROFITS and the tacked on interest you never paid as FUTURE ACCTS RECIEVABLE! When you die or move out of the house, FNM writes off the loan as GOODWILL! No one will ever know, because the books are kept in a LOCK BOX. (in the future, FNM can make part of their accounting transparant but not some of the "icky stuff" that FNM at their descretion determines nobody needs to know about anyhow) Thus we have achieved utopia! You get the house and never make payments, the bank and FNM get another loan, the mortgage back securities hedgies get their greater than risk free interest while being RISK FREE! And after 10 years you can get your house reappraised, and refinance it at the higher appraisal, and take out all the extra money and go to Home Depot, or get a Walt Disney Cruise, or some new clothes or whatever you want. And we just keep expanding the number of homes (not too fast, mind you, we have to keep supply tight) in an ever growing ring around the urban areas and encourage every possible demographic category to take the "Don't ever pay, no money down" loans! George Bush, Alan Greenspan, FNM, are you listening? Edit: Loan qualifications are as follows: You must not be currently in a coma and relying 100% on life support equipment. However, exceptions can be made based on brainwave activity.

To: nextrade! who wrote (3500)	7/20/2002 4:46:22 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Nextrade... You should have warned all real estate bears to take their antacid pills before reading that Ken Harney column about the new types of mortgage ideas on the table at FNM and FRE. I woulda posted it if you had not. If nothing else, it shows the futility of ranting and raving about FNM and FRE. Our goverment wants people to own their homes, period. And it has given Fannie and Freddie the mandate to see that this happens. A better rant could probably be aimed at HUD or FHA, which were the precursors in this whole area of public policy. And as federal bureaucracies, these two are probably run much worse than FNM and FRE, at much more cost to taxpayers.