1. 

   Trace Richardson
   

   Key Master
   Joined: Feb '09
   Posts: 30

   Reputation:838

    

   With HR 3044 there's a good chance that HVCC is going to go away for a while. With HR 1728, we dont' have to wait until it passes to see the devastating effects it will have on consumers and mortgage professionals. Now is the time to act BEFORE it passes. What are your thoughts on HR 1728.

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   Posted 8 months ago #
2. 

   Eric
   

   Member
   Joined: Jun '09
   Posts: 1

   Reputation:1

    

   I still need to read up about this, it has been a while. Is YSP still part of the bill or has that changed?

   Posted 8 months ago #
3. 

   Trace Richardson
   

   Key Master
   Joined: Feb '09
   Posts: 30

   Reputation:838

    

   As far as I know the YSP is still in the bill, I need to get caught up on a few things myself... there have been 15 or so ammendments.... will post on the blog later....

   Posted 8 months ago #
4. 

   thomas
   

   Member
   Joined: Jun '09
   Posts: 3

   Reputation:7

    

   What's supposed to happen to YSP?

   Posted 8 months ago #
5. 

   Trace Richardson
   

   Key Master
   Joined: Feb '09
   Posts: 30

   Reputation:838

    

   Hey Thomas, welcome. There's language that would do away with YSP. Not unlike HVCC in that it would have negative consequences for consumers.

   Posted 8 months ago #
6. 

   cschy
   

   Member
   Joined: Aug '09
   Posts: 3

   Reputation:240

    

   I see an issue with this in that is seems like the government is telling people what they are allowed to have. IF this passes, it will be a great blow to the American people. It is true that brokers should be very honest with people about how much they can really afford. The broker should fight hard to get a loan for their clients, but they should also draw the line about who they accept. Should this bill pass, It will greatly show that the American people are no longer in charge- the government really does run the people instead of the other way around.
   Truthfully, this is just another excuse for the American deadbeat who would not stand up and say- yes, I want this, but it may be out of my reach with my current spending habits. Maybe if I wasn't financing 5 BMW's I could get the million dollar house.
   But from the other side, there are many brokers who fight the lost cause for a person who really shouldn't get the home of their dreams. Home ownership is a privelege, not a right. This isn't Disney Land people, a dream is not the same as a right.
   Come Together, ask for reform, but not at the expense of the American people. Make citizens be responsible for their actions and own up when they are wrong.
   STOP SHIFTING BLAME- GROW UP!!!

   Posted 7 months ago #

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