That's The Ticket!..

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NoDrama

Well-Known Member
schuylaar said:
How about the single individual or possibly a married couple without children, who make just enough to make ends meet but still cannot save to buy a house?
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Save to buy a house? You can buy a home with zero down.

If you don't like paying income taxes, don't pay them. If everyone just decided enough was enough the Federal government would shut down. Oh but wait, soooooo many people rely on government assistance you can't do that.
Guess you better pay those taxes or the gal who live across the street won't get her SSDI and SSI payments this month for her anxiety.
 
londonfog

londonfog

Well-Known Member
NoDrama said:
Save to buy a house? You can buy a home with zero down.

If you don't like paying income taxes, don't pay them. If everyone just decided enough was enough the Federal government would shut down. Oh but wait, soooooo many people rely on government assistance you can't do that.
Guess you better pay those taxes or the gal who live across the street won't get her SSDI and SSI payments this month for her anxiety.
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guy named Wesley Snipes tried that...a few others as well
 
S

schuylaar

Well-Known Member
NoDrama said:
Save to buy a house? You can buy a home with zero down.

If you don't like paying income taxes, don't pay them. If everyone just decided enough was enough the Federal government would shut down. Oh but wait, soooooo many people rely on government assistance you can't do that.
Guess you better pay those taxes or the gal who live across the street won't get her SSDI and SSI payments this month for her anxiety.
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most people don't have that type of credit..oh! wait! the 1% does.
 
N

NoDrama

Well-Known Member
londonfog said:
guy named Wesley Snipes tried that...a few others as well
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Nope, wrong.
Snipes went to prison for tax fraud and conspiracy, he didn't go to prison for failure to submit the proper forms and money.
There is a big difference in not doing the paperwork and doing the paperwork with a bunch of lies.
 
S

schuylaar

Well-Known Member
NoDrama said:
Nope, wrong.
Snipes went to prison for tax fraud and conspiracy, he didn't go to prison for failure to submit the proper forms and money.
There is a big difference in not doing the paperwork and doing the paperwork with a bunch of lies.
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tax fraud can be anything..including disagreement on T&E..it's always the miles they want to fuck you on.

the conspiracy portion may have been because of his CPA..they get fined and in all sorts of trouble (new laws) if it's found that they prepared taxes without the benefit of citation. this way he doesn't go to jail, too.

EDIT: you've never misrepresented anything on your taxes? even $1 or 1 mile? maybe something in your home office?:wink:
 
N

NoDrama

Well-Known Member
schuylaar said:
most people don't have that type of credit..oh! wait! the 1% does.
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Conventional loans require a 20% down payment, but you won't have to carry mortgage insurance.

An FHA loan will finance 100% , but you have to carry PMI. You need a credit score of 500+ to qualify for a FHA loan.

Fannie May offers the conventional 97, which requires only a 3% down payment and a min credit score of 680 to qualify.

For vets and vet spouses there is 100% financing and you can have a credit score of zero and you will still qualify.

A section 502 Mortgage (FDA) is also 100% financed.
 
N

NoDrama

Well-Known Member
schuylaar said:
tax fraud can be anything..including disagreement on T&E..it's always the miles they want to fuck you on.

the conspiracy portion may have been because of his CPA..they get fined and in all sorts of trouble if it's found that they prepared taxes without the benefit of citation. this way he doesn't go to jail, too.

EDIT: you've never misrepresented anything on your taxes? even $1 or 1 mile? maybe something in your home office?:wink:
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You can't be charged with fraud if you didn't do the paperwork.
 
S

schuylaar

Well-Known Member
NoDrama said:
Conventional loans require a 20% down payment, but you won't have to carry mortgage insurance.

An FHA loan will finance 100% , but you have to carry PMI. You need a credit score of 500+ to qualify for a FHA loan.

Fannie May offers the conventional 97, which requires only a 3% down payment and a min credit score of 680 to qualify.

For vets and vet spouses there is 100% financing and you can have a credit score of zero and you will still qualify.

A section 502 Mortgage (FDA) is also 100% financed.
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wrong. you still have to pay for closing and then the PMI adds a few hundred to the mortgage payment. sucks.
 
N

NoDrama

Well-Known Member
schuylaar said:
my last house was FHA and i had to put down 5%, pay closing costs and still had to pay pmi.
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You got fucked.
My last 3 homes I bought I made the seller pay all the closing costs.
Unless you put down 20%, you will always have PMI.

Another idea to make home ownership more affordable is this: Don't buy such a fucking big house.
 
ginwilly

ginwilly

Well-Known Member


This shows the housing bubble we created in an easy to grasp picture. You can see we are still overvalued against historic measures but still trying to prop them up with keynesian measures.

If interest rates are allowed to be set by the market, we are looking at another housing crash. We have created a bit of a conundrum here. If rates go up, we can't afford the housing prices which will drop to meet this lack of demand. If housing bubble crashes again, the too big to fail are actually bigger than the last crash.

Don't wanna think about it.

Chart is a few years old. We did not have the correction yet predicted thanks to the effort of the federal reserve.
 
S

schuylaar

Well-Known Member
NoDrama said:
You got fucked.
My last 3 homes I bought I made the seller pay all the closing costs.
Unless you put down 20%, you will always have PMI.

Another idea to make home ownership more affordable is this: Don't buy such a fucking big house.
Click to expand...
i purchased a house based upon my income which i easily qualified for on my own.

buyer did chip in for a portion of the closing.

my territory was reduced by 35% because of october 2007.

reduced territory = reduced income.

i told my loan officer from wells i no longer qualified.

he broke the law because he wanted his commission.

he even wanted to fraud the closing statement with inaccurate numbers because he wanted to get paid.

i told him i didn't qualify anymore and wanted out.

at least my attorney wouldn't let him.

i had him, the buyers realtor phoning me threatening me to go through with the deal.

i even walked out of the closing when that paperwork showed with erroneous numbers..

ever see attorney's chasing people in the parking lot?

i got in my car, attorneys banging on my window..i left:lol:
 
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