John McCain and home owners

Discussion in 'Congress' started by DavidS, Sep 28, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Wonk Room McCain’s Record Of Denying Assistance To Homeowners

    – McCain voted against discouraging predatory lending practices. In 2005, McCain voted against an amendment prohibiting law-breaking high-cost predatory mortgage lenders from collecting funds from homeowners who are forced into bankruptcy court. [S. 256, 3/03/05]

    – McCain failed to vote on bill to overhaul mortgage lending practices of FHA. In 2007, McCain failed to vote on passage of a bill that would overhaul the mortgage lending practices of the Federal Housing Administration (FHA). The bill would reduce the required minimum down payment for an FHA-insured loan and simplify its calculation, requiring a flat 1.5 percent of the appraised value of the home. [S. 2338, 12/14/07]

    –- McCain failed to sign on to the Predatory Lending Consumer Protection Act. In 2003, McCain failed to add his name to this legislation, which was intended to “protect consumers against predatory practices.” The bill, which was endorsed by a host of civil rights and housing advocates, including the U.S. Conference of Mayors, ACORN, and the Consumer Federation of America. [S. 1928, 11/21/03]

    – McCain failed to sign on to Truth in Lending Act. Less than four months ago, McCain failed to sign on to this bipartisan initiative providing protection to consumers taking out home mortgage loans. Among other measures, it was designed to “establish new lending standards to ensure that loans are affordable and fair.” McCain also refused to co-sponsor this legislation in the 107th Congress as well. [S. 2452, 12/12/2007]
     
  2. Missourian
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    Missourian Gold Member

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    You all should do your homework before you post this garbage. :disbelief:




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    Last edited: Sep 28, 2008
  3. HoleInTheVoid
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    HoleInTheVoid Active Member

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    Why?

    ThinkProgress does all his thinking for him.
     
  4. Jon
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    Jon The CPA

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    I absolutely adore the way this was worded. First, we're accusing predatory lenders of breaking the law, then they use this accusation to make it sound like collecting funds from homeowners who are forced into bankruptcy court is illegal too. It's not, nor should it be. Bankruptcy laws have been overhauled since this bill was passed, praise the Lord on that one.
     
  5. Missourian
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    Missourian Gold Member

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    Finally found the amendment and no wonder it wasn't named. It was amendment 38. It failed 58 to 40. Guess what?

    Joe Biden broke with his own party to vote against it too.
    :wtf:





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    Last edited: Sep 28, 2008

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