TNHarley
Diamond Member
- Sep 27, 2012
- 94,115
- 56,502
- 2,605
"This is sheer genius."
In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-TN) proposed that borrowers be required to make a 5% down payment in order to qualify.
His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-CN) explained, "Passage of such a requirement would restrict home ownership to only those who can afford it."
I can't add anything to this.
In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-TN) proposed that borrowers be required to make a 5% down payment in order to qualify.
His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-CN) explained, "Passage of such a requirement would restrict home ownership to only those who can afford it."
I can't add anything to this.