Seattle Faces Backlash After Easing on Crimes Involving Mental Illness

Re:Seattle Faces Backlash After Easing on Crimes Involving M... by DoreenMichele on Sunday July 14, 2019 @02:33PM (#20434993)

All mortgages are about ability to repay

It's absolutely not that simple.

Given that you a. dismissed the idea that Freddie Mac is a federal program and b. completely ignored the rebuttal of that erroneous assertion to blather on about your world view and insist you are right and I am wrong anyway, I don't see any constructive value in continuing this discussion further.

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Re:Seattle Faces Backlash After Easing on Crimes Involving M... by jelliclesfarm on Sunday July 14, 2019 @03:36PM (#20435454)

Me neither...especially when you think all of what I have taken time to respond to you is ‘blather’. Have a good one.

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Re:Seattle Faces Backlash After Easing on Crimes Involving M... by 80mph on Monday July 15, 2019 @07:34PM (#20446279)

FWIW, I found your points interesting, and I agree that all mortgages are about the ability to repay. Wasn't that at the root of the 2008 subprime mortgage crisis?

And ability to repay, in my understanding= Capital, Capacity, Credit history, Collateral

-Capital: Down payment, loan fees, closing costs, escrow impounds, reserves, moving expenses

-Capacity: Current income, income history & future earning potential, Amount owed on installment accounts & revolving charge accounts

-Credit history: Current liabilities and past history

-Collateral: i.e., Is the house worth what you are paying for it, and if not, that has to be fixed before closing.

I learned the above through a home-buyer's education class I'm taking in order to qualify for a down-payment assistance program (https://housingtrustsv.org/programs/empowerhomebuyersscc/).

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