Feds rethink policies that encourage home ownership

[KMAN]

Gee... You think.

Finally these "geniuses" in Washington are coming back to the real world.

What do you want to bet they don't touch Fannie or Freddie! Although, let's hope they don't do anything until the people who actually now something about running a business (Republicans) take back the House and Senate.


Feds rethink policies that encourage home ownership - USATODAY.com

 

[Avatar4321]

You mean they might actually be learning something?

 

[KissMy]

You mean they might actually be learning something?

They did not learn anything. We are the ones who should learn from this. They knew this disaster would happen & encouraged it. They control us & not the other way around. They will not touch their gravy train Fannie & Freddie.

 

[MaggieMae]

From the article:

Using guarantees and tax breaks, the government pushed homeownership past 69% in 2004. Then it all came crashing down.

Posted 1/20/2004 1:31 AM

Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY

In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

More: USATODAY.com - Bush seeks to increase minority homeownership

Fannie & Freddie were the same cash cow throughout. With the no-down-payment policy, even the FHA was in the red for the first time in its history.

It's all Obama's fault
It's all Obama's fault
It's all Obama's fault
It's all F&F's fault
It's all F&F's fault
It's all F&F's fault
It's all Clinton's fault
It's all Clinton's fault
It's all Clinton's fault

 

[Soggy in NOLA]

Wow... so maybe there is a reason some people don't own homes?

 

[Mr Natural]

Home owners make better neighbors and better communities.

 

[VaYank5150]

Home owners make better neighbors and better communities.

This is a true statement, but just as not everyone in America can be a millionaire, not everyone can afford to own a home. Foreclosed properties have done nothing but decrease home values for those reponsible enough to actually pay their mortgages.

 

[KissMy]

Who's recent stimulus plan gave home buyers an $8,000 tax brake?

Yes Bush did want to hand out down payment to qualified borrowers. As bad as that was it was no where nearly as stupid as giving loans to people with bad credit.

The US dollar is only worth the credit rating of it's borrowers. Gee I wonder why we had such rampant inflation while Fannie & Freddie were handing out the credit.

 

[VaYank5150]

Who's recent stimulus plan gave home buyers an $8,000 tax brake?

Yes Bush did want to hand out down payment to qualified borrowers. As bad as that was it was no where nearly as stupid as giving loans to people with bad credit.

The US dollar is only worth the credit rating of it's borrowers. Gee I wonder why we had such rampant inflation while Fannie & Freddie were handing out the credit.

So....you are blaming who for this? Since it is obvious that you are too partisan to give Bush ANY credit for this mess.

 

[MaggieMae]

Who's recent stimulus plan gave home buyers an $8,000 tax brake?
They still had to qualify, unlike your next item which began as soon as Bush announced his new Homeowners Incentive Plan in 2004.

Yes Bush did want to hand out down payment to qualified borrowers. As bad as that was it was no where nearly as stupid as giving loans to people with bad credit.

The US dollar is only worth the credit rating of it's borrowers. Gee I wonder why we had such rampant inflation while Fannie & Freddie were handing out the credit.

Prior to 2005, nearly all of the sub-prime loans were bought by Wall Street—NOT Fannie & Freddie. In fact, prior to 2005, the GSEs were not permitted to purchase non-conforming mortgages.

 

[manifold]

Feudalism, don't knock it until you've tried it.

 

[MaggieMae]

Who's recent stimulus plan gave home buyers an $8,000 tax brake?

Yes Bush did want to hand out down payment to qualified borrowers. As bad as that was it was no where nearly as stupid as giving loans to people with bad credit.

The US dollar is only worth the credit rating of it's borrowers. Gee I wonder why we had such rampant inflation while Fannie & Freddie were handing out the credit.

So....you are blaming who for this? Since it is obvious that you are too partisan to give Bush ANY credit for this mess.

Bush merely opened the door wider. The mortgage frenzy begun in 2005 was not due to any legislation or order from him (or Clinton, for that matter, going back even further). It was the unlimited profit motive that led to unadulterated greed by private sector lenders.

 

[Claudette]

You mean if you have bad credit or no credit you can't get a home loan anymore???

Well Darn. LOL

 

[uscitizen]

Bad credit? No credit? No home just a used car or payday loan.

 

[AvgGuyIA]

Home owners make better neighbors and better communities.

You should have to live in my current neighborhood. It's time, once again, to flee to the suburbs.

 

[manifold]

Home owners make better neighbors and better communities.

You should have to live in my current neighborhood. It's time, once again, to flee to the suburbs.

I prefer the subsuburbs myself.

 

[KissMy]

Home owners make better neighbors and better communities.

You should have to live in my current neighborhood. It's time, once again, to flee to the suburbs.

I prefer the subsuburbs myself.

You guys are racist & class segregationist.