[rabidralph]

As a vet, I would not have been able to afford my home without the VA loan, which stipulates no downpayment necessary. I hope this program, if implemented, would scrutinize the income of the prospective buyers before letting them buy a house they will eventually lose.

[Broadside Joe]

Yes they will because it isn't the fed that loans the money but rather, it is funded by mortgage backed securities. The Fed only insures them.(payed for by the buyer)

BTW the VA loans you spoke of had qualifying guidelines that were so lax at one time that they almost gave you the rope to hang yourself with. (that has changed though)