Posted on 09/04/2011 8:46:10 PM PDT by Clairity
In 2005, the Texas State Legislature passed HB 1823, which allowed people with a Contract for Deed to refinance their mortgage and convert the Contract for Deed to a Deed of Trust. They were then able to get out from under the terms of the contract, transfer title to their name, and assume full responsibility for their property and their lives. There were a number of steps homeowners had to take to comply with the law, and they were obviously responsible to pay the mortgage, but it gave homeowners greater power over their property.
ACORN, which supported HB 1823, praised the Legislature and Governor Perry for passing it.
So when folks go around bashing Governor Perry for signing these bills just because ACORN supported one of them, it tells me they are all hat, no cattle, and a person to be pitied. They are obviously not a Texan.
(Excerpt) Read more at enterstageright.com ...
How many times am I going to tell you this?
Texas is not AZ and a border fence will not work here.
BTW the biggest corridor around is in AZ on the Tohono O’dham Indian reservation.
At that time ACORN was a big advocate of housing for the poor. Since this particular law was about ensuring poorer homeowners were not screwed out of their investment they of course would be happy with the bill.
Thank goodness the legislature and governor were rational and did the right thing in ensuring that people who just went through a natural disaster had a home and property to rebuild.
If you think what's happening in Cali can't happen in Texas, you're dead wrong.
Excellent post!
Unfortunately no amount of facts will deter the Perry-bashers, because they are not upset with Perry because of the “issues” they are claiming, they know full well, they are spreading misinformation. They just want to knock Perry out in the primary, so Obama will have an easier time beating the GOP nominee.
If she had 26% polling I probably would.
Q. So why didn't ACORNS and latinos have traditional mortgages in the first place? Ones like most working class Americans have....and pay off monthly.
A. Because they did not qualify for those loans---but no one was allowed to utter such heretical words. Banks were sued into giving loans to anything that moved. If the applicant could breathe and make an X on an app they got a mortgage. No questions asked....not about jobs, residency, citizenship, ability to pay.
Nada.
Conniving illegals (here for "a better life") flipped houses to family members at higher and higher prices, duping banks over and over, each family member making a bundle. Then the last illegal mtge holder absconded to Mexico--leaving US taxpayers holding the bailout bag.
Senor Perry screwed tax paying Americans again ----allowing ACORNS and latinos to get a better deal, leaving working class taxpayers holding the bag for the unpaid mortgages.
GOV PERRY REALLY KNOWS HOW TO BAMBOOZLE TEXANS.
Thank God those outside Texas have the intelligence to figure out Perry's schemes.
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GOV PERRY GETS AN IDEA----2003 Fannie Mae Annual Report Letter to Shareholders
EXCERPT ...Ten years ago the typical conforming mortgage required a down payment of 10-20 percent, and low-down payment mortgages were considered too risky. But then we helped to standardize the 3 to 5 percent down payment loan, brought it to global capital markets, and made it available to lenders and communities nationwide. Now low-down payment loans are commonplace. And we just adopted a new variance in our underwriting standards that will make the $500 down payment loan widely available as well...
In 1994, we pledged to provide $1 trillion in capital to ten million under-served families by the end of 2000. Thanks to our housing and industry partners, we met that goal early. Then in 2000, we launched our American Dream Commitment, a pledge to provide $2 trillion in capital to 18 million underserved families by the year 2010, including $400 billion targeted specifically for minority families (later raised to $700 billion in response to President Bush’s Minority Homeownership Initiative).
After four of the strongest years in housing and mortgage finance history, we’ve already surpassed the top-line goals of this commitment. But our work is far from complete.
So in January 2004, we announced our Expanded American Dream Commitment and pledged significant new resources to tackle America’s toughest housing challenges. Our new commitment has three main goals.
First, we will expand access to home ownership for six million first-time home buyers in the next ten years, including 1.8 million minority first-time home buyers.We also will help raise the national minority home ownership rate from 49 percent to 55 percent, with the ultimate goal of closing it entirely.
Second, we will help new and long-term homeowners stay in their homes through a series of initiatives, and commit $15 billion to preserve affordable rental housing and $1.5 billion to support the revitalization of public housing communities.
Third, we will increase the supply of affordable housing and support community development activities in at least 1,000 neighborhoods across the country through our American Communities Fund, and through targeted investments like Low-Income Housing Tax Credits that help finance affordable rental housing.
It is because of initiatives like our Trillion Dollar Commitment and our American Dream Commitment that we have exceeded our HUD affordable housing goals for ten consecutive years.
And we have increased our financing of mortgages to African Americans by over 400 percent and to Hispanic Americans by 470 percent in the past ten years, compared with a 205 percent increase in overall financing. Our Expanded American Dream Commitment will help us do even more.
Perry is the strongest 10th amendment candidate out there!
You aren’t vetting.
You are actively smearing.
Palin called Perry a “true conservative”. Was she lying?
While finding Governor Perry marginally acceptable as candidate; Perry does have a troubling history of corporate cronyism and systematic abuses of public trust as Texas Governor. 0bots will make that and race the central issues in the Presidential campaign.
Several have actually stated that they prefer giving Obama another 4 years, rather than see Perry as president.
This 0bamaish strawman quote troubles me. Mind naming/pinging those screennames?
Cheers,
OLA
Has Palin sued these clowns? Perry has.
It’s the job of the FEDERAL government to secure the border or didn’t you know that? How come you are not complaining about Obama refusing to provide the National Guard troops Perry requested?
That would require staying on the job!
Got proof liar? Look the **** around... Obama is is the King Of Crony Capitalism
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