Downpayment Aid OK'd for Poor Families

AP ^ | 10/1/2003 | JIM ABRAMS

[Publius6961]

Saved for later reading.

But I need to add: I was in a Mexican restaurant and picked up a Spanish language newspaper to read while waiting for dinner. Yes I am fluent in Spanish and French.

According to the article, and accompanying photos with Federal officials, this program was being publicized as something to be taken advantage of by undocumented immigrant families, AKA illegal immigrants.

[GSWarrior]

Just wait until we get some Republicans in the White House and Congress! That'll fix things.

[sasafras]

Man it just keeps getting crazier and crazier. I must be living in bizarro world where good is bad and bad is good. If I can only get back to earth where people used to have common sense.

[MontanaBeth]

I worked so hard to buy my first home, didn't make big dollars had four children but drove an older car skimped on entertainment, shopped for bargains, ate cheaply but the day escrow closed on my house was so satisfying because I had worked so hard to get it. I predict alot of foreclosures in the future. If you don't work for it you don't appreciate it. Along with all the additional expenses of home ownership, such as repairs, taxes etc. Are taxpayers going to be expected to handle this for them also?

[TexasRepublic]

This is only the beginning in this country of the forced redistribution of wealth - a key tenet of Communism. How do you like it so far?

[A Navy Vet]

AAAAAAAAAAARRRRRRGH!

Tell me again the difference between Republicans and Democrats.

Go to h#ll, GOP!

[AdamSelene235]

Fannie Mae and Freddie Mac are private entities whose loans are GUARANTEED by the Feds read TAXPAYERS

That's false. But the problem is so large, it is assumed they will be bailed by the Feds. Thing is, they are too big to fail and too big to bail.

[Chuckster]

Yeah, well.....

I am certain that every one here will agree that this is a very bad idea. Assuming that the Senate and the White House will not be able to resist this opportunity to buy votes with our money and this abomination passes into law, what can we do about it?

Come Nov. '04 we will have a choice: bad, or worse.

Assuming that conservatives either stay home or vote third party and we wind up with "Worse", how can we best ride out the collapse of our economy and, possibly, our government? What would be the best course of action for land/home owners (Meaning those of us with no mortgage)

It looks pretty grim to me, or am I missing something?

[Kozak]

Federal National Mortgage Association (Fannie Mae) A publicly owned, government-sponsored corporation chartered in 1938 to purchase mortgages from lenders and resell them to investors. Known by the nickname Fannie Mae, it packages mortgages backed by the Federal Housing Administration, but also sells some nongovernment-backed mortgages.

[AdamSelene235]

From Fannie's website:

Fannie Mae debt securities, together with interest thereon, are not guaranteed by the United States and do not constitute a debt or obligation of the United States or of any agency or instrumentality thereof other than Fannie Mae.