You do realize , that the bitch was 1 of 3 people who could of prevented the housing meltdown
BULLSHIT! She was a POWERLESS member of the MINORITY Party, the GOP ran everything into the shitter, and YOU know it!
The housing meltdown occurred in 2008, the 2007-8 Congress was Far Left.
The seeds were sown starting in 2002 by Bush and the GOP as a run up to the 2004 election trying to get minority voters away from the Dems by putting them in houses they could not afford.
USATODAY.com - Bush seeks to increase minority homeownership
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.
In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade."
It would lead to 150,000 first-time owners annually, he said.
Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit.
Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.
The FHA isn't a direct lender, but guarantees loan payments for mortgages on moderately priced owner-occupied property. The FHA guarantee now permits private lenders to finance as much as 97% of the purchase price of a home for millions of low- and middle-income borrowers.
In the proposal soon to be delivered to Congress, Bush would allow the FHA to guarantee loans for the full purchase price of the home, plus down-payment costs. As a practical matter,
the FHA would guarantee mortgages as high as 103% of the value of the underlying property.