[LomanBill]

[If they get a new mortgage, they still have to qualify the same way you and your wife did.]

 

LOL  With the high LTV No Doc "Liar Loans" that some originators were generating?

 

In the pre 2008 days -- As long as somebody was willing to lie and sign, they were entitled to a house.

 

When we moved in 2007, the realtor we were referred to worked with a loan broker to pre-"qualify" us for 3700+ sq ft $600k+ homes... on the basis of my wife's (significantly less than public skewal) Lutheran School teacher salary alone.

 

I laughed at him and told him we'd be looking at houses starting at 85k and working our way up until we found something livable.  

[hocndoc]

Those loans were never legal in Texas.

“Ultimately, the record is fairly unforgiving for Republicans—particularly in Congress—who have been in power in Washington over the last decade or so. They haven’t just spent our money wildly—they have blatantly ignored our core founding principles and expanded the reach of Washington into our lives while blowing a once-in-a-lifetime opportunity to restore the balance of power from Washington back to states.”

Rick Perry is pretty critical of Statist RINO’s and the very notion of “compassionate conservativism.” Fed Up!,” from 139 to p 145 lays out problem after problem. He names specifics like Farm Subsidies, Small Business Administration, Social Security, No Child Left Behind, and many, many more pork projects and wrong moves by Republicans, throughout the book.

He talks about the sub-prime loans and bank bailouts, the abuse of Fannie Mae and Freddie Mac on p. 71 - but the electronic version of the book won’t let me copy and paste any more.