On Sep 15, 5:18*pm, Ignoramus1348
wrote:
On 2008-09-16, wrote:

So, can I assume you always pay cash for your real estate purchases?
Did you ever buy a home and need FHA insurance to make the deal? If
you have ever had a mortgage on any real estate, then you are part of
the problem!!!

Mortgages were obtained before GSEs, and will be available after them,
on a private basis. They may become more expensive and/or harder to
get. As we are discovering now, there is a good reason for that.

I still have a 15 year mortgage. Our payments are about 9-10% of our
total income. I do not think that I ever needed FHA insurance, but a
long time ago I had to buy PMI.

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Fair enough, but who holds your mortgage, now? Bet a GSE held it for a
while, somewhere in it's past history, then packaged it with other
similar mortgages and sold them to someone else, like an insurance
company, or retirement fund.

Paul