Posted on 09/03/2011 11:00:25 PM PDT by Clairity
Or in less insane speak:
It’s from this article (2005):
http://www.chron.com/CDA/archives/archive.mpl?id=2005_3883908
He signed a bill that changed something called a ‘contracts-for-deed’ into a standard mortgage.
Hardly the stuff of legend... but some don’t want the story out, just the picture.
Golly, I hope to God, Perry does not have to give back the monogrammed
serape, just when he was hoping to get a matching monogrammed sombrero.
El Ricardo Perrynista receives a Mexican blanket from Gov Enrique Martinez,
Coahuila, Mexico as a token of appreciation for passing the Texas Dream Act.
>>you are nothing more than a disruptor
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people’s minds”
— Samuel Adams
“Pay no attention to that little man behind the curtain”.
—The “Wizard” of Oz
“Woof”
—Toto
1. Why did the ACORNistas consider that to be their “Proudest Moment”?
2. What is Ricardo planning on doing about those who fraudulently planted lots of those ACORNs and grew them, ala their sub-prime Liar-Loan a$$paper ponzi scheme, into the systemic corruption our financial infrastructure... what is Ricardo planning on doing about bringing them to Justice?
Where’s LEO, Ricardo?
You Purple Party Parrots don't have a clue about how to answer that, do ya.
Mistah Rick, he Toasted!
Nice tan ehh?
Interesting how Ricardo conveniently became melatonin challenged... reflecting just the amount of light for the consumption of his base of GeeOpie gringos - whilst herding them like a Judas Goat into the heart of darkness.
I can't make out what you are trying to write.
Is Señor Ricardo’s justice department going to prosecute those who planted ACORNS, fertilized them with fraudulent sub-prime derivative a$$paper, and corrupted our financial infrastructure in the process - or not?
What’s his plan for dealing with that massive fraud; and will it be any more effective than his border control?
Back in 2005, ACORN worked with legislatures to allow people with a certain type of mortgage to a conventional mortgage.
They did not receive any money, just the opportunity.
http://www.chron.com/CDA/archives/archive.mpl?id=2005_3883908
“The group’s proudest moment came last week when Gov. Rick Perry signed a bill that makes important changes in the use of contracts-for-deed, a form of home lending that withholds a title from buyers until they have fully paid their loan.
“Passage of the law, which will make it possible for buyers to convert their loans to traditional mortgages, was this year’s top Texas legislative goal for ACORN, which represents 175,000 low- and moderate-income families in 51 U.S. cities.”
What fraud? That someone has the ability to convert a "contract for deed" into a "mortgage" is fraud to you? Why do you think it is?
LomanBill, From your homepage:
Hos 12:7 The merchant uses dishonest scales;he loves to defraud.
The bill that the Governor was signing in that picture was a move to correct law that could be used to defraud.
In Texas, we did not allow the refinance and home equity sub-prime-type loans, at all. We also have restrictions on original loans, requiring mortgage insurance if people want to borrow more than 80%. That law protected our citizens, our banks, and the housing market from the worst of the results of the subprime crash.
Governor Perry is very vocal about the type of Federal regulations and laws that resulted in the fraudulent “paper ponzi.” He would change regulations under the Executive Branch, cut most of the bureaucracy as he is able and replace the necessary bureaucrats with conservatives who believe in Constitutional, Federal and not central government.
From Fed Up!:
“The truth is, I don’t care what party the statist is in. The fact of the matter is, it is the statist, and those who support or enable him, who is the problem. For too long he has undermined this country by empowering the national government at the expense of liberty. An America defined by the statist in Washington is an America doomed to fail.” p.15 loc 338
“Our cause is simple: to restore the balance of power intended by our Founders but forsaken by secular progressives determined to say what government will do for the people rather than allowing people to do what they can do for themselves. Our goal is to take power away from Washington and instead empower states, communities, and individuals, because America’s future greatness is inextricably intertwined with states pushing back.” Kindle PC Edition, location 355
You need to slow down, most people here don’t talk to the same people you do, so they don’t understand your phrases. I’m translating as I can.
As far as I can tell, the 2005 law did not create new entitlements or give any special breaks. It encouraged equal opportunity, but not equal outcome.
Paul Krugman is convinced that Perry’s statement about Bernanke prevented Q3. Of course Krugman thinks that’s a bad thing.
http://www.nytimes.com/2011/08/26/opinion/bernankes-perry-problem.html
“But I’ll be shocked if Mr. Bernanke proposes anything significant — that is, anything likely to make any serious dent in unemployment or offer any serious boost to growth.
“Why don’t I expect much from Mr. Bernanke? In two words: Rick Perry.
“O.K., I don’t mean that Mr. Perry, the governor of Texas, is personally standing in the way of effective monetary policy. Not yet, anyway. Instead, I’m using Mr. Perry — who has famously threatened Mr. Bernanke with dire personal consequences if he pursues expansionary monetary policy before the 2012 election — as a symbol of the political intimidation that is killing our last remaining hope for economic recovery.”
"how'come the borrowers encumbered by those loans didn't have a traditional mortgage in the first place?"
Good question, LB.
Banks gave out sub-prime loans like they were aqua fresca ....if the applicant could breathe and make an X, no questions asked....not about jobs, residency, citizenship, ability to pay.
Nada.
Illegals 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 taxpayers holding the bailout bag.
We don’t know why the people signed those mortgages.
We do know that the law change only calls for disclosure of the terms and the opportunity to get a new mortgage if they qualify, which they did not have before.
If they get a new mortgage, they still have to qualify the same way you and your wife did.
Migration is not recovery.
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