Drudge Retort: The Other Side of the News

Drudge Retort

Menu

Subscriptions

Drudge Retort RSS feed RSS Feed

Links

Recent Comments

Recent comments from all news stories on this site. Users must follow the site's moderation policy. Personal attacks, profanity, abusive conduct and expressions of prejudice are not allowed. If you want to retrieve a comment of yours that was recently deleted, visit your user page and click the Moderation link.

Trump's idea is to hide the numbers on the economy. Makes it easier to gaslight if the government figures aren't there to be used to show him his happy talk is all lies.

"The economy is in such a terrible shape " no GDP report, no jobs report, and now no inflation report," entrepreneur Ivano Panetti posted on X.

"Tough to make biz decisions without all the data," economist B. Dan Berger posted on X. "So much for economic transparency."

Once again the most transparent president has shown his true colors. The Epstein files, economic data, the emigrant round up (of which was supposed to be the worst of the worst), the list just goes on and on as to what is uncomfortable grounds for him.

When you look back at the economy from a larger prospective, we've went from a single worker being able to support his family on his job alone, to it now taking two bread earners (usually with at least one side gig or working two jobs to make ends meet) in order to just stay afloat. It's not about avocado toast, it's about keeping the lights on, food in the home, and the rent paid. Heaven help you if you need medical treatment.

All this starts back with Regan and steadily progresses to today's economy where the rich are getting the lion's share and the rest are getting crumbs at best. All the financials flow upwards, leaving little for the rest.

Last year 61% of all bankruptcies in the US were medical related. As many as 500,000 people file for this reason alone. We are the only first world country without single payer medical. With medical costs being what they are, at minimum wage leaves, you don't even make enough to pay the rent on your own, and don't even consider needing medical assistance.

Face it, our economy is in sad shape and so far not getting better.

(answering my own questions)
I wonder if Lisa did the "Second Home Rider" with the mortgage? She should have had a lawyer do the buy! (I sure will)

Fannie Mae and Freddie Mac Loans

A second home loan might include a Fannie Mae/Freddie Mac "Second Home Rider" with the mortgage. This rider often includes the following terms with which the borrower must comply.

The borrower will occupy and use the property as the borrower's second home.
The borrower will maintain exclusive control over the occupancy of the property.
The property can't be subject to any timesharing arrangement or rental pool.
The property can't be subject to any agreements that require the borrower to rent the property or give a management firm (or any other person) control over the occupancy and use of the property.

So, this rider makes it seem like you can't rent out a second home. However, Fannie Mae and Freddie Mac rewrote their guidelines to clarify that if you have a Fannie Mae or Freddie Mac mortgage on a second home, that house can be used as a rental property, subject to some limitations. The rider says the borrower will keep the property available primarily as a residence for the borrower's personal use and enjoyment for at least one year unless the lender otherwise agrees in writing (the lender can't unreasonably withhold consent) or unless extenuating circumstances exist that are beyond the borrower's control. Here are the rules:

During the first 12 months, short-term renting is allowed. But you must keep the property available primarily as a residence for your own personal use and enjoyment.
After you've owned the property for a year, you can do longer rentals.

If I buy this place as a primary residence, can I airBnB it when I'm not in town?

www.zillow.com

I really want it, but would have to generate some money to pay for it.
Can one rent out just a room and still have it a primary residence?
How about renting out a converted barn-dominium on the property? (there is a big metal building there too)

Drudge Retort

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy