A reminder of how democrats led us to this mess

[Tehon]

This is how you defeat libs, which is why they hate assertive people. They have no evidence but lefty manufactured stuff. They even try and tell you your eyes and ears aren't seeing or hearing what they are.

How dumb are we? Pretty fuckin dumb

I don't know about the rest of you, but if you believe this clown on this issue when your own eyes and ears are telling you different, I wouldn't try and make a life changing decision anytime soon!

Lefty manufactured stuff? Like the presidents own initiative detailed on his own website. Are you seeing this? Bush made a pledge to increase home ownership by expanding F+F.

Homeownership Policy Book - Chapter 2

• 
  
  • Establish a national goal of at least 5.5 million new minority homeowners before the end of the decade.
  
  
  
  
  
  • Challenge the private sector real estate and mortgage finance industries to dramatically increase their efforts to reduce the barriers to homeownership faced by minority families and to work with the nonprofit sector in a concerted effort to achieve this goal through national and local partnerships.
  
  
  
  
  
  • Convene a White House Conference on Increasing Minority Homeownership, to highlight the homeownership barriers faced by minorities and develop proposed solutions

To that end, the Administration has issued "America’s Homeownership Challenge" to homebuilders, realtors, nonprofits, and government-sponsored enterprises that purchase the mortgages made by lenders, to unite in a concerted, multifaceted and collaborative effort to dismantle barriers to homeownership in each community and increase the number of minority homeowners by at least 5.5 million families by the end of this decade. This broad-based effort will (1) harness the capital and expertise of major private sector financial institutions, (2) involve minority advocacy groups in key roles to guide industry efforts, and (3) complement the legislative and regulatory initiatives put forth by the Administration to achieve this goal.

Although long-range projections of homeownership growth rates can prove unreliable, under almost any projection scenario, adding 5.5 million families to the number of minority homeowners by the end of this decade would be a substantial achievement that could be accomplished only with great effort.

As an initial response to President Bush’s challenge, a number of national organizations involved in homeownership have agreed to commit specific resources, devote organizational energy, and begin taking concrete actions to reduce barriers and achieve this goal. Some of the measures to be taken include:

• A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;

 

[Dad2three]

This is how you defeat libs, which is why they hate assertive people. They have no evidence but lefty manufactured stuff. They even try and tell you your eyes and ears aren't seeing or hearing what they are.

How dumb are we? Pretty fuckin dumb

I don't know about the rest of you, but if you believe this clown on this issue when your own eyes and ears are telling you different, I wouldn't try and make a life changing decision anytime soon!

Lefty manufactured stuff? Like the presidents own initiative detailed on his own website. Are you seeing this? Bush made a pledge to increase home ownership by expanding F+F.

Homeownership Policy Book - Chapter 2

• 
  
  • Establish a national goal of at least 5.5 million new minority homeowners before the end of the decade.
  
  
  
  
  
  • Challenge the private sector real estate and mortgage finance industries to dramatically increase their efforts to reduce the barriers to homeownership faced by minority families and to work with the nonprofit sector in a concerted effort to achieve this goal through national and local partnerships.
  
  
  
  
  
  • Convene a White House Conference on Increasing Minority Homeownership, to highlight the homeownership barriers faced by minorities and develop proposed solutions

To that end, the Administration has issued "America’s Homeownership Challenge" to homebuilders, realtors, nonprofits, and government-sponsored enterprises that purchase the mortgages made by lenders, to unite in a concerted, multifaceted and collaborative effort to dismantle barriers to homeownership in each community and increase the number of minority homeowners by at least 5.5 million families by the end of this decade. This broad-based effort will (1) harness the capital and expertise of major private sector financial institutions, (2) involve minority advocacy groups in key roles to guide industry efforts, and (3) complement the legislative and regulatory initiatives put forth by the Administration to achieve this goal.

Although long-range projections of homeownership growth rates can prove unreliable, under almost any projection scenario, adding 5.5 million families to the number of minority homeowners by the end of this decade would be a substantial achievement that could be accomplished only with great effort.

As an initial response to President Bush’s challenge, a number of national organizations involved in homeownership have agreed to commit specific resources, devote organizational energy, and begin taking concrete actions to reduce barriers and achieve this goal. Some of the measures to be taken include:

• A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;

JUNE 2001


Bush aggressively pushed the private lending industry to make over 1.1 trillion in low income and minority lows and to "create more creative" loan products to do it. He pushed them to "loosen credit standards" and pushed them to make the most risky loan products available to the riskiest buyers.



Then, he turned to Fannie Mae and Freddie Mac and threatened to rewrite their regulatory charters.

The government-sponsored corporations created to increase the liquidity of mortgage markets, so more capital would be available for mortgage loans, are supposed to lead the market in reaching underserved populations. While these corporations have increased their commitments to these efforts, they lag behind private lenders in this regard, according to government studies. The Administration will revisit the regulatory goals for these corporations’ purchases of affordable housing loans, which are set to expire in 2003. The federal government should demand more and should hold such publicly-chartered corporations accountable for better performance.

Homeownership Policy Book - Background



September 2, 2004

The Bush Administration issued the following press release:



Under President Bush's leadership, overall U.S. homeownership in the second quarter of 2004 reached an all-time high of 69.2 percent. Single-family housing affordability is at its highest level in 30 years, and minority homeownership set a new record-high of 51 percent in the second quarter.

The President has called on Congress to work with him on additional steps to promote homeownership in America. He has set bold goals for homeownership, including his challenge to the Nation to create 5.5 million new minority homeowners by the end of the decade - and he has now set an additional goal of 7 million new affordable homes.

Increasing Affordable Housing and Expanding Homeownership (Text Only)

BUT REMEMBER, IT WAS BARNEY FRANK AND THE DEMS FAULT BECAUSE THEY HAVE OUT OF CONTEXT VIDS *SHAKING HEAD*

 

[Dad2three]

BUSH ADMINISTRATION ANNOUNCES NEW HUD "ZERO DOWN PAYMENT" MORTGAGE Initiative Aimed at Removing Major Barrier to Homeownership

LAS VEGAS - As part of President Bush's ongoing effort to help American families achieve the dream of homeownership, Federal Housing Commissioner John C. Weicher today announced that HUD is proposing to offer a "zero down payment" mortgage, the most significant initiative by the Federal Housing Administration in over a decade. This action would help remove the greatest barrier facing first-time homebuyers - the lack of funds for a down payment on a mortgage.


Speaking at the National Association of Home Builders' annual convention, Commissioner Weicher indicated that the proposal, part of HUD's Fiscal Year 2005 budget request, would eliminate the statutory requirement of a minimum three percent down payment for FHA-insured single-family mortgages for first-time homebuyers.

"Offering FHA mortgages with no down payment will unlock the door to homeownership for hundreds of thousands of American families, particularly minorities," said HUD's Acting Secretary Alphonso Jackson. "President Bush has pledged to create 5.5 million new minority homeowners this decade, and this historic initiative will help meet this goal."


Preliminary projections indicate that the new FHA mortgage product would generate about 150,000 homebuyers in the first year alone.

"This initiative would not only address a major hurdle to homeownership and allow many renters to afford their own home, it would help these families build wealth and become true stakeholders in their communities," said Commissioner Weicher. "In addition, it would help spur the production of new housing in this country."

The Administration, through HUD, further forced Fannie Mae and Freddie Mac to offer riskier 3, 5, and 7 year arm loan products to low income and minorities.

BUSH ADMINISTRATION ANNOUNCES NEW ADJUSTABLE-RATE MORTGAGE PRODUCTS TO ENHANCE HOMEBUYING OPPORTUNITIES

40,000 More Families Expected To Benefit From New Offerings

WASHINGTON – The Department of Housing and Urban Development is proposing to enhance homebuying opportunities by expanding its offerings of adjustable-rate mortgage (ARM) products on FHA-insured mortgages. Potential homebuyers would be able to choose mortgages with periods of three, five, seven or ten years, depending on their needs, during which time the interest rate would be fixed. "By offering additional types of FHA-insured ARMs tailored to the financial conditions and desires of the borrowers, we are creating more homeownership opportunities," said HUD Secretary Mel Martinez today in a speech to America’s Community Bankers.


"We estimate that as many as 40,000 families a year will choose these new adjustable-rate mortgages as their way of financing their home purchase."