Old Rocks
Diamond Member
BUSH ADMINISTRATION ANNOUNCES NEW HUD "ZERO DOWN PAYMENT" MORTGAGEIt gained legs under Clinton dumbass, Bush warned about the bubble in 2006, Frank said he was crazy. Liberalism kills anything it touches. Thank God for president Trump and both houses running under republicans!What a liar you are. Bush purposely impeded the securities oversight so that the frauds and banksters could make billions while crashing the economy. And Bush bragged about his zero down housing deals that topped off that bubble. A couple of million american households ended up losing their homes. Wonder how many will lose their homes due to the orange clown.You mean the democrats than ran both houses and the pocket book handed Obama a bad economy. Bush warned about it and Barney Frank said he was crazy.What the fuck are you talking about? Bush handed President Obama an economy headed straight down. Went clear down to 6500. Now, we are close to 20,000. And the unemployment is at a 10 year low.Nope, he might get bored after saving the economy in four years, and give Pence the reigns after that. You know something Obama failed at after 8 years trying.Hell in two years Trump could be on impeachment watch......our Trump will claim health problems and QUIT!!!
Are there people having a hard time? Yes, because brain dead jobs are now being done by machines. And there are far more brain dead 'Conservatives' than there are jobs of that type left. Yet there are over 5.8 million jobs going begging in this nation. Technical jobs that need training. Yet the GOP opposes training our young people for these jobs. And the incoming President seems not to have a clue about this.
Now, having been handed a solid economy, let us see what the orange clown and the GOP has done with the economy by the end of 2019. My bet is that it will be down by 25%. Possibly more, if a trade war is started.
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."
HUD Archives: BUSH ADMINISTRATION ANNOUNCES NEW HUD "ZERO DOWN PAYMENT" MORTGAGE
Good intentions, stupid moves.