My FTHC client

[Black Bart]

Good grief! These guys really need to be buyin' a house.

They were supposed to come in today, pay me $100, and pick up their $8,000 credit 1040X. They just phoned -- they're broke and can't pick it up 'til next payday (Friday week). If I'm having a hard time with a hundred bucks, I can only imagine the future problems in store for the mortgage company.

Makes you wonder if they even run credit checks anymore or if they're just taking all comers qualifying for the $8K. And what's to make sure clients pay it on the house and not a new car/whatever?

[veritas]

Shoot

I only charged $50.

[Jiggers]

Can't afford it

As Barney Frank recently said, paraphrasing him when asked about the negative impact and on recent legislation and how it will hurt the profitability of businesses, he said that was not his concern. If they lost money, that was their problem, not his.

[DaveO]

The government has assured the next wave of mortgage defaults with this inane credit.

[Black Bart]

Well,

I only charged $50.

you "Big Sky" guys are known for your compassionate nature aren't you? Just bask in the warm feeling of your noble deed.

[veritas]

well

I did get paid.

[erchess]

B B

You are having trouble getting payment but you are holding unsecured debt. The mortgage company can eventually take the property if payments are not made. The owners may take the facts into consideration when deciding which payments to make.

[AuditorTurnedGood]

I wondered about the wisdom of getting people who likely could not have afforded to buy a house before to buy one with the government's help. Anyone else think this is strangely like what got us into this mess?

[Davc]

Does anybody else think there will be a glut of high MPG late model used cars on the market in a year or two?