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re: Trump signs a new executive order to bring down the cost of owning a home
Posted on 10/22/26 at 5:18 pm to MSMHater
Posted on 10/22/26 at 5:18 pm to MSMHater
quote:
Refuses to sign bi-partison, codifying housing legislation in July.
IIRC he wanted something and Congress thumbed their nose at him... Could have been the SAVE Act or something else.
Posted on 10/22/26 at 6:02 pm to junkyarddawg3
Many 1st time home buyers forget about PMI when reaching that 20% and it will continue unless ended. Having it disappear automatically will help younger homebuyers
Posted on 10/22/26 at 6:26 pm to Nosevens
quote:
Many 1st time home buyers forget about PMI when reaching that 20% and it will continue unless ended. Having it disappear automatically will help younger homebuyers
Yes. Now the burden is on the FHFA to make that happen; not the mortgagor (borrower) /homeowner, if I understand it correctly. Again, it’s a pilot program, so I’m sure there are more details to come out.
Posted on 10/22/26 at 6:40 pm to MSMHater
Bipartisan ??????
If something is bipartisan in 2026, that means it’s against the better good of American people that I can assure you
If something is bipartisan in 2026, that means it’s against the better good of American people that I can assure you
Posted on 10/22/26 at 6:42 pm to LARancher1991
quote:What would you have wanted him to do?
So signed something that did nothing to help existing homeowners unless the home is basically almost paid off
Posted on 10/22/26 at 6:43 pm to Bob Sacamano 89
Pretty much everything the government does is detrimental to average Americans.
Posted on 10/22/26 at 6:43 pm to Usmc
quote:
So, of it measures current market value... can it screw you?
I don’t think so. I read that it can’t re-instate PMI if your home value falls, but you just won’t be eligible if your LTV is > 80%. But the EO doesn’t state that, and I wouldn’t expect it to. It’s leaving those details to the Director of the FHFA.
Posted on 10/22/26 at 6:44 pm to Cosmo
quote:This guy gets it. EO’s such as this are ridiculous.
Govt shouldnt be involved with this. Other than getting rid of all govt backed mortgages
Posted on 10/22/26 at 6:45 pm to Jake88
quote:Nothing.
What would you have wanted him to do?
Posted on 10/22/26 at 6:46 pm to Jake88
Go play golf far away from any device with Internet access.
Posted on 10/22/26 at 6:52 pm to Nosevens
quote:
After you reach 20% that insurance disappears, far cry from almost paid off
The way they changed this to 10 years min regardless of 20% down all the way to mandatory for the life of any FHA loan to bail out the stupid banks losses was ridiculous to begin with.
Posted on 10/22/26 at 6:54 pm to KiwiHead
quote:
I always thought it automatically drops off at 78% of the balance.
It never just dropped off. You would have to call and have it removed.
After the crash in 08, the government decided due to everything is free and easy, they need to get their money back. They placed a 10 year min PMI on all FHA loans regardless of you had 20% down. then a few years later wanted to double up and put it on all FHA loans for the life of the loan.
Posted on 10/22/26 at 6:57 pm to Ailsa
I hope something can indeed be done about the closing costs. I swear everyone has their fingers in it when you purchase a home. I was charged an “abstract fee”. I don’t even know what that is but I know they wouldn’t take an abstract check
Posted on 10/22/26 at 6:58 pm to MSMHater
Inbreds can’t comprehend or reason. But they love to call you a slur associated with gayness.
This post was edited on 10/22/26 at 7:22 pm
Posted on 10/22/26 at 7:00 pm to LARancher1991
PMI used to be able to come off at 20% equity which is pretty easy if the value of the home has gone up at all.
Forcing mortgage companies to have to take it off at 20% is a small win, but it is a win. When I hit 20% on my old house I had to call to get them to consider taking it off. They did, but it took effort and knowledge to call.
Forcing mortgage companies to have to take it off at 20% is a small win, but it is a win. When I hit 20% on my old house I had to call to get them to consider taking it off. They did, but it took effort and knowledge to call.
Posted on 10/22/26 at 7:54 pm to Nosevens
quote:
After you reach 20% that insurance disappears,
Not magically. You have to get an appraisal. So there's a cost. And if the value of your home declines and eats up your equity, you may not be any closer to having the required 20%.
Posted on 10/22/26 at 7:54 pm to Warfarer
quote:
They did, but it took effort and knowledge to call.
And probably an appraisal, which you probably paid for.
This post was edited on 10/22/26 at 7:55 pm
Posted on 10/22/26 at 7:59 pm to Ailsa
quote:
Launches a task force to make factory-built homes cheaper
Wha dis?
Posted on 10/22/26 at 8:44 pm to gumbeaux
quote:
It’s amazing he is doing all these things right before the mid-terms. Must be just a coincidence.
Trump is doing something positive, so how can I complain about it? I know, I'll ignore the effects and focus on the timing. That'll let me keep my TDS credentials. Trump was elected to be president but not this close to an election.
Posted on 10/23/26 at 12:25 am to Ailsa
It is the supply side that needs to be addressed.
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