Posted on 04/03/2013 6:32:05 AM PDT by SeekAndFind
Edited on 04/03/2013 7:26:03 AM PDT by Admin Moderator. [history]
Documentation File on the negative impact of the Obamanation Counterculture on America.
HA_HA, that poor GWB's golden economy was blown up by Jimmy Carter. Its all the MSMs fault few bought that dribble.
GWB 2002 Speech :”More and more people own their homes in America today. Yet we have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. That’s a home ownership gap; a gap that we got to work together to close. And by the end of this decade we’ll increase the number of minority homeowners (future Obama voters ) by 5.5 million families. “
“One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You don’t have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up then they can lose it to the bank).
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
Bush pushes minority homeownership (FR post | June 15, 2002 | By KATHY A. GAMBRELL)
Bush seeks to increase minority homeownership (FR post USA Today ^ | 1-20-04 | Thomas Fogarty )
President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)
Compassional conservative was proved to be a huge failure under Bush as all those minorities voted Democrat by 2008 after they lost all those homes promoted above.
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How about in 2008 when McCain said the ‘fundamentals of the economy are strong’ ??
You didnt run up and buy houses to get rich when he said that?
I live in Syosset and the house next door has been for sale for a year and a half.
Well, I happen to live in Long Island too, and my colleague and his wife, have saved $80,000 to put a down payment towards a house in either Nassau or Suffolk. They were willing to put in 20% down.
His problem -— everytime they find a house they like within their budget, it gets snapped up ahead ( with alternative offers too ).
He just lost a bid for one in Levittown when the other guy offered $10,000 more than him ( pre-approved at 3% down ).
Three freaking percent and it was approved by the bank !! And I thought those days were over !!
ChiCom investors are snapping up homes left and right.
Yeah, I saw it: )
Isn’t that what got us in the present economic mess to begin with? I knew we had a national case of ADD, but this is absurd.
” How about in 2008 when McCain said the ‘fundamentals of the economy are strong’ ??”
Yeah, if your wife owns a major Budweiser distributership.
LOL!
This fricking idiot doesn’t have a clue. MENE, MENE, TEKEL, UPHARSIN.
Were back to “affirmative action” lending. Forcing banks to make “Ninja” loans.
Ninja is bank slang for “No Income, No Job”.
Granting someone a loan when they have no means to pay it back is a form of slavery.
FUBO
He is SUCH a butt wipe.
Cloward-Piven in action? Overwhelming Fannie and Freddie?
The banks are in on it.
No, the banks are being forced into it, ONCE AGAIN. The demoncrapts really hate America and can’t stand it that they haven’t ruined it yet. They will keep trying until they get it right.
The Obama Mortgage Application:
1. Do you watch MSNBC and/or listen to NPR regularly? No, Stop. Yes, Proceed to #2.
2. Do you have poor credit? No, Stop. Yes, Proceed to #3.
3. Do you have a public sector job? No, Stop. Yes, Proceed to #4.
4. Did you vote for me? No, Stop. Yes, Proceed to #5.
5. Are you a member of Organizing For America? No, Stop? Yes, Proceed to #6.
6. Your mortgage application is APPROVED.
Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.Loan Officers are 'cautious' because they can get jail time for writing loans outside the guidelines, which are confusing enough on their own.
Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan..If that is what they want, then repeal the legislation that forbids it.
It’s the reverse aka regulatory capture.
Now there's a pair to draw to.
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