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Ignoramus1348

On 2008-09-16, wrote:
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.

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.

That's probbaly what happened, but mortgages would originate even
without GSEs.

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