duh, higher risk borrowers get charged higher interest rates....
I guess he wants another mortgage crisis
I have one: extortion.
All part of the plan I am sure.
More dough into Obamao’s stash.
Good thing Ameriquest isn’t around anymore ... that was their business model, no matter what the borrower’s race or gender.
Obama’s policies as enforced by Holder.
Nothing less than government-mandated disaster, and thus the collapse of the housing market and consequent economic disaster.
What isn’t stated explicitly is that Obama is attempting, like a latter-day Lenin, to break the nation’s economy and bring on the revolution of the proletariat.
We can all spend the remainder of our lives on Earth lining up for our government ration of toilet paper, cardboard shoes and belts, and an occasional packet of salami - while the commissars ride around in stretch limousines and shop for luxury items in comsomol.
On the bright side, at least there aren’t another 200,000 foreclosed homes on the market.
The amazing thing is that BOFA was attempting to perform some due-diligence and control the risk(unlike other bustards ie: countrywide)! Now they are being hit with a stick over the head by WiteHut Criminal Gang.
Where does that money go? Every time I hear about the gubmint taking a toll on a business or an individual I wonder and I ask “where does the money go?” Does it go to a general fund that is basically a cookie jar slush fund for Holder or Obama or some other equally sleazy crook in the administration? I’m asking because I cannot get an answer to this from anyone I ask.
So let’s see. Hank Paulson twisted BofA’s arms to buy Countrywide (because of Barney Frank’s mandated toxic loans) and then also forced them to take $25 billion in TARP funds so that they would not appear broke(even though they were insolvent) knowing full well that there would be costly litigation from that purchase and that the AMERICAN TAXPAYER would be paying for all along.
What a freakin country!
What a crock . . . This forced lending to people who have bad credit is what got us into the current financial crisis.
“”200,000””
I don’t believe that number for one second! All of the cases brought for that reason never numbered more than a couple of hundred at a time.
Have y’all noticed how all the DoJ cases have to do with making minorities whole? This case, the ridiculous charges against Sheriff Joe and the shutdown of the Black Panther voter intimidation case come to mind.
Meanwhile, the crooks on Wall Street get away with financial murder over and over and over and nothing is done.
Pathetic, disgusting.
And of course the panzies in the GOP are silent like lemmings.
Shameful
I never applied for a mortgage, even though I have a VA loan chit, and a decent,steady job.
Why didn't I?
I had no savings to speak of, except for a 401K, and couldn't afford to own a home that cost over 100K.
Based on income coupled with a VA loan guarantee, I technically qualified for a normal loan. But I would have been unable to afford or perform routine maintenance, not to mention taxes and insurance.
I wonder just how many of these people who were “discriminated against” were essentially just like me, except they stupidly bought a ticket to the song and dance the Realtors were singing, that they would be much better off “owning” something they couldn't afford, instead of renting?
I've watched friends and coworkers go through the process of buying property with a normal loan. It wasn't pretty, it cost a lot of time and stress, and doesn't allow for instant gratification...unless you took the sub-prime loan route.
BTTT
Movin’ on up on everyone else’s dime.
Reparations, Part Deux