XPost: soc.culture.usa, alt.politics.usa, talk.politics.theory
XPost: soc.rights.human, alt.politics.usa.misc
From: RegulationReform@USA.com

On 1/6/2020 3:15 PM, Regulation Of Commerce wrote:
> 250 Year Fixed, No Doc, 100% Loan-To-Value, Conforming Loans are needed.
>
> A 250 year fixed payment is equal to an Interest-Only payment.
>
> We can still have teaser rates for the first 5-10 years, to build equity and
then
> refinance.
>
> The 5/1's are still a time bomb waiting to happen, as soon as the housing
market
> falls again.
>
> Mortgages with adjustable payments are a time bomb waiting to happen, as
soon as
> the housing market falls again.
>
> The payment must stay the same for the life of the loan, though the rate can
change.
>
> The 250 Year Fixed, 100% Loan-To-Value, Conforming Loans are needed, No Doc
for
> primary loan, doesn't have to be a residence, one could rent as a vacation
property.
>
> No two years of employment proven.  Buy at will, to live in or rent as
vacation
> property.
>


This plan ought be only for *primary* conforming loans.

But if you have several vacation properties or residences, or a jumbo loan,
stricter borrowing requirements ought to apply.

Conforming loan limit map:
https://www.fhfa.gov/DataTools/Tools/Pages/Conforming-Loan-Limits-Map.aspx


Fannie Mae "HomeReady," and Freddie Mac "Home Possible" already are plans that
allow 97% LTV:
https://www.nerdwallet.com/blog/mortgages/fannie-mae-home-ready-
reddie-mac-home-possible/

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