Feds rethink policies that encourage home ownership

Discussion in 'Politics' started by KMAN, Aug 12, 2010.

  1. KMAN
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    KMAN Senior Member

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    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
     
    Last edited: Aug 12, 2010
  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    You mean they might actually be learning something?
     
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  3. KissMy
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    KissMy Free Breast Exam

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    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.
     
  4. MaggieMae
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    MaggieMae Reality bits

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    From the article:
    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

    :cuckoo:
     
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  5. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Wow... so maybe there is a reason some people don't own homes?
     
  6. Mr Clean
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    Mr Clean Gold Member

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    Home owners make better neighbors and better communities.
     
  7. VaYank5150
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    VaYank5150 Gold Member

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    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.
     
  8. KissMy
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    KissMy Free Breast Exam

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    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.
     
  9. VaYank5150
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    VaYank5150 Gold Member

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

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    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.
     

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