Posted on 05/15/2014 1:12:44 AM PDT by chessplayer
After a near-depression and worst-ever financial crisis that cost the US economy as much as $14 trillion, one might think Washington would be careful to avoid repeating the same policy mistakes. One might think, for instance, Washington would think twice and then thrice before loosening mortgage lending standards to boost home ownership, particularly among low-income borrowers. Because, you know, loosened mortgage standards seem to have played some role in helping set the stage for the catastrophic mortgage meltdown.
(Excerpt) Read more at aei-ideas.org ...
Ask yourself why so many homes a lost after those same homeowners can no longer make payments, keep current on their taxes, keep the homes in good repair, etc. Perhaps its because they are not QUALIFIED to own a home and should NEVER been given loans the should not have.. “No problem” says odumbo, “we have to help them”. All they are doing is setting up those people for FAILURE!
I have a friend who is a banker and said their bank HAD TO make those loans (gubmint edict) knowing all the time the new home owners would default and the bank would get the homes back.
Not doubling down on stupid.
Doubling down on evil.
I believe that Obama and his team have been working to create either a financial crisis or allow a terrorist attack or both while they are in power.
After 9/11, the media was all upset that Klinton wasn’t in power at that time. They were all crooning about all the things he could have gotten done in the aftermath of 9/11.
Rahm Emmanuel: Never let a crisis go to waste.
This regime’s mission is to crash the country while they have all the levers of power.
Home ownership is another aspect of the American Dream,
so why WOULDN’T he want to destroy it?
More unqualified borrowers. More failed loans. More bailouts. What’s not to love?
I think we’re past double.
It’s been in the works for a long time but increased greatly when Clinton expanded the ACA. I’ll tell you another troubling fact; there were homeowners who were ‘negotiating’ with the bank and during the negotiation period had to stop making payments to qualify for help.....they suddenly got foreclosed on. I had read about this happening and waned a neighbor who told me he was ‘working with the bank’.....he got foreclosed on.
I'm sure he must have had quite a bit of equity in the place.
Lather. Rinse. Repeat.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.