Ofcourse it was never true to start out with cause signing on to a mortgage IS NOT HOME OWNERSHIP!
2007-03-13 08:40:44 · 9 answers · asked by bulabate 6 in Business & Finance ➔ Renting & Real Estate
He bragged on his great economic citing home record home ownership! The first That WORD in the question mispelled should be THEN
2007-03-13 08:48:35 · update #1
Oh yeah here is somemore dumbing down economics 101 by the misguided generations technically you own your home by borrowing the money I think NOT you can try to sell it for a profit but it is not owned until paid off! non_apol.
2007-03-13 09:00:47 · update #2
You do not own the property free & clear until it is paid off & you are in possesion of the land deed title! Stick that in your twisted superfiscial view of how things are!
2007-03-14 02:33:27 · update #3
Denver has more foreclosures than any other city.
ARMs are to blame. I feel sorry for my nephew. He bought a 800 sq.ft. literal shack for $135K and his payments are going through his shabby little roof.
Bush has allowed the bad government that in turn allowed bad public policy.
Besides Bush is only the figurehead parrot ... my apologies to parrots.
He is notorious for only presenting what looks like "good news." If something is 5% better he'll report on and take credit for it. Notice he never mentions the other 95% failure rate. He glosses over the failures.
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2007-03-13 08:49:00 · answer #1 · answered by Anonymous · 1⤊ 2⤋
Hi, The number of "homeowners" had very little to do with any presidential policies of late. The free wheeling dealing of lenders in the last 5 years requiring little down, no secure income is the primary reason for the fact that when reality sets in these silly loans would default when the real estate market tanked as it is doing now. All of this is irrelevant as to who happened to be sitting in the WH. Note some of the mortgage companies countrywide, 21st Cent and others poor loans are coming home to roost.
2007-03-13 15:47:31 · answer #2 · answered by dumb 6 · 2⤊ 1⤋
actually, by definition, you BUY the house but borrow the money. So you do own the home.
We have extremely low unemployment...
We have extremely low interest rates...
We have very low inflation...
Yes, home ownership is at a record high. Its easier to afford a home when interest is low and you have a job.
The number one cause of default on a mortgage is someone racking up excess credit card debt and not being bale to make the payments. Credit card interest is outrageous.
Try managing your money properly and you wouldn't have had your house go into foreclosure.
Even if you lose your job.. the bank does not foreclose on the first missed payment. You get enough warning that you have time to sell the house rather than have the bank repossess it. Its stupid to let it go into foreclosure.
2007-03-13 15:48:52 · answer #3 · answered by Anonymous · 1⤊ 3⤋
Yes it is home ownership, you own your home and the mortgage company has a lein.
You aren't well versed in real estate, time to study up before looking like a fool.
2007-03-13 16:33:44 · answer #4 · answered by Mark P. 5 · 1⤊ 1⤋
Not to change the subject.....but.....
If you look over the long term, home ownership has gone up pretty much every year since WWII.
There was so little good economic news during his first term that they kept pointing this one out. The Democrats could have made the same argument during the 1990s but they didn't have to.
2007-03-13 15:45:48 · answer #5 · answered by Wayne Z 7 · 4⤊ 2⤋
Please shut up. That tired "if you have a mortgage you aren't a home owner" line is crap. If you don't pay your real estate taxes, you don't get to keep your home. If you are a jerk and hurt someone and they sue you then you can lose your home. There are plenty of reasons a homeowner can lose their home, and it doesn't mean they are not a homeowner.
Defaults have been skyrocketing for the same reason that personal debt and credit card debt are at an all-time high, and that is because people are unwilling to take personal responsibility for their actions. Bush is not to blame.
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2007-03-13 15:45:24 · answer #6 · answered by non_apologetic_american 4 · 2⤊ 3⤋
I don't think you really want an answer. It is true. You do own the home, and it's not G.W. Bushes fault if you sign up for a bad mortgage, or default on it.When does someone take responsibility for themselves and their choices?
BTW, I'm neither a Dem or GOP.
2007-03-13 15:45:17 · answer #7 · answered by Partisanshipsux 3 · 2⤊ 3⤋
lol --idiot. Trying to tie Bush into this.
You do realize that many of these people who are defaulting now might have bought during Clintons years right?
2007-03-13 15:47:30 · answer #8 · answered by Anonymous · 2⤊ 3⤋
what are you saying? why is that bush's fault that credit is too easy?
2007-03-13 15:44:03 · answer #9 · answered by Anonymous · 1⤊ 3⤋