Quote:
Originally Posted by MediaArtist
It doesn't matter if you clicked the link, or not, you simply provided wrong information about the default rates for privately held/Fannie/Freddie traditional loans vs FHA loans, and as of this moment, you're being too childish to admit you were wrong (or uninformed).
... and who do you think uses FHA? 
Investors certainly don't.
Regardless, your advice was simply horrible. |
There are nearly 3 million homes behind in their mortgage and about 13 million home loans are underwater. So, if any of us believe the nonsense you spew based off of ONE google-hack-job...you'd have us all believe many of those are FHA-backed people and that one of the causes may be the 3.5% down. Causes of foreclosures is a broad subject. LMAO! The housing crisis is all over the place as far as demographics goes. You pinpointed a flaw with FHA loans but failed to address the rate of foreclosures for none-FHA loans or at the very least, the total number. What gives there? Again, your article cited a period where the increase was notable. That's it. I owe you no apology nor will you ever get one from me, since you want to make this personal even when all you managed to do was give BS advice based off of ideal circumstances and a cut & paste job.
Sure, keep promoting the idea that one should release their lifesavings into a house that is already not worth what they'll pay for it and leave nothing in the bank for emergencies, like job loss which is arguably a main reason for those who are behind on their mortgages. Stupidity 101. Thanks for playing.