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Yeah...exactly genius. Nobody misses their first house payment. It takes years for them to fall behind and start running up credit cards before they finally foreclose.The housing market crashed in 2007 not 1997
Oh here we go again....everything is racist when the facts defeat you people. You want real racism? Here it is - from liberals as always:Racists always try to blame the CRA because it got rid of the racist banking practice of red lining.
Well for starters....the people who pay for the houses aren't the ones who forclose on it. The fact that you don't know that much means you really shouldn't be commenting here.Why the fuck would you foreclose a house that is worth around double what you paid for it in 1997?
Because everything is "racist" when liberals are proven wrong.[How is it racist to determine that a particular person can't make a mortgage payment?
It was started by edthecynic - need I say more?What a ridiculous thread lol
Fail
The perpetual dumb act again, that is not red lining, and you know it.How is it racist to determine that a particular person can't make a mortgage payment? I wasn't able to qualify for a home loan for years after I got my graduate degree. It's called life.Racists always try to blame the CRA because it got rid of the racist banking practice of red lining.The b ushie crash happened thanks to policies enacted by Bill Clinton during his admin. Wake the hell up dummy. Housing crashes take time to develop. You are so fucking clueless I am amazed you can wipe your own ass!Nope, that didn't happen until Bush's ADDI passed in Dec 2003, and the Bush housing crash happened in less than 4 years.Yeah...exactly genius. Nobody misses their first house payment. It takes years for them to fall behind and start running up credit cards before they finally foreclose. And then it takes additional years before there are enough of them to start affecting the price of homes that haven't been foreclosed on. Welcome to reality.
The CRA forced banks to loosen their lending guildlines for "minorities" and then incentivized them by backing the loans with Freddie and Fannie. Since the banks weren't on the line for the loans and thus had everything to gain and nothing to lose, they started making extraordinarily risky loans that they never would have made without government intervention.
Oh here we go again....everything is racist when the facts defeat you people. You want real racism? Here it is - from liberals as always:Racists always try to blame the CRA because it got rid of the racist banking practice of red lining.
Oh here we go again....everything is racist when the facts defeat you people. You want real racism? Here it is - from liberals as always:Racists always try to blame the CRA because it got rid of the racist banking practice of red lining.
Pretty sad that liberal white COLLEGE kids are that fucking stupid
Oh here we go again....everything is racist when the facts defeat you people. You want real racism? Here it is - from liberals as always:
Pretty sad that liberal white COLLEGE kids are that fucking stupid
It's years of indoctrination.
Oh here we go again....everything is racist when the facts defeat you people. You want real racism? Here it is - from liberals as always:Racists always try to blame the CRA because it got rid of the racist banking practice of red lining.
Pretty sad that liberal white COLLEGE kids are that fucking stupid
It's years of indoctrination.
It was Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) that changed the rules to allow no downpayment loans for more than the house was worth to people with bad credit who could not keep up with the payments and who were at least 20% below the standard of living for the neighborhood they were buying into.The b ushie crash happened thanks to policies enacted by Bill Clinton during his admin. Wake the hell up dummy. Housing crashes take time to develop.
They will blame Carter's CRA!The look on working people's faces that voted for That POS trump when the unemployment ticks back above 5% and starts climbing after he takes office. Let's take some home movies!
Well for starters....the people who pay for the houses aren't the ones who forclose on it. The fact that you don't know that much means you really shouldn't be commenting here.Why the fuck would you foreclose a house that is worth around double what you paid for it in 1997?
The banks foreclose because they aren't going to allow someone to default on a loan. They are going to legally repossess any assets they are legally entitled to and attempt to liquidate them to recover a single much of the loan money as possible.
They will cover some of this once you get to junior high.
Because every home put up for sale is sold. Idiot.You need to quit talking about shit you have no clue about. If the house is worth twice the loan, you simply sell it, settle with the bank and pocket the difference.
What a surprise that you ignore (and even advance) the repulsive racism from your side of the aisle.What a surprise that the people who were brainwashed to believe education is indoctrination can't see their own indoctrination. NOT!
