{"id":1579,"date":"2009-10-22T14:17:46","date_gmt":"2009-10-22T20:17:46","guid":{"rendered":"http:\/\/www.davintosh.com\/?p=1579"},"modified":"2009-10-22T14:17:46","modified_gmt":"2009-10-22T20:17:46","slug":"here-we-go-again","status":"publish","type":"post","link":"https:\/\/davintosh.com\/index.php\/2009\/10\/22\/here-we-go-again\/just-stuff\/","title":{"rendered":"Here we go again&#8230;"},"content":{"rendered":"<p>Just when you thought the economy might just be back on the upswing, <a href=\"http:\/\/www.businessinsider.com\/20-year-old-buys-home-with-183000-fha-loan-and-just-35-down-2009-10\">a story like this<\/a> pops up&#8230;<\/p>\n<blockquote><p>Denise Tejada bought a house last month at the age of 20, thanks in large part to a loan guaranteed by the Federal Housing Authority&#8230;<\/p>\n<p>&#8230; Without question, Tejada&#8217;s loan is toxic &mdash; to her and to the taxpayers who are backing the loan. Her house cost $155,000. Tejada&#8217;s loan was apparently made on a micro-down payment of just 3.5%, the minimum down payment to qualify for an FHA loan. On top of this, however, she got an additional government backed loan to make improvements. Her total loans amount to $183,0000. In short, she was immediately underwater on her new house.<\/p>\n<p>The monthly payments on her debt amount to $1328. Her income is $2470, leaving her with just $285 a week to live on. She&#8217;s paying 54% of her income to make the mortgage payments. She earns that income by holding down one full time and two part time jobs. Obviously, this woman has a strong work ethic. But it also means her income is precarious&#8230;<\/p><\/blockquote>\n<p>&#8220;Precarious&#8221;? Ya think? Did we learn nothing in the last 12 months? Whoever is writing &amp; approving loans like this ought to be slapped. Hard.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just when you thought the economy might just be back on the upswing, a story like this pops up&#8230; Denise Tejada bought a house last month at the age of 20, thanks in large part to a loan guaranteed by the Federal Housing Authority&#8230; &#8230; Without question, Tejada&#8217;s loan is toxic &mdash; to her and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,10],"tags":[],"class_list":["post-1579","post","type-post","status-publish","format-standard","hentry","category-just-stuff","category-the-world"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/posts\/1579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/comments?post=1579"}],"version-history":[{"count":0,"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/posts\/1579\/revisions"}],"wp:attachment":[{"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/media?parent=1579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/categories?post=1579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davintosh.com\/index.php\/wp-json\/wp\/v2\/tags?post=1579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}