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Obama Administration Pushes Banks to Make Home Loans to People With Weaker Credit.

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  • Obama Administration Pushes Banks to Make Home Loans to People With Weaker Credit.

     

    The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

    President Obama

    Help me understand...we need to attack Syria because Syria attacked Syria?

  • #2

    We wouldn't want the taxpayers getting any benefit from the bailout. 

    Comment


    • savoldi
      savoldi commented
      Editing a comment
      The banks are supposedly putting the bailout money into the stock market instead of doing what they need to be doing with it. Good for those numbers, but not so good for people who need credit.

    • coyote-1
      coyote-1 commented
      Editing a comment

      IF it could be done while maintaining responsibility and accountability, I'd be OK with it. Many folks who could afford a home are currently unable to secure a loan.

      But we all know it'll go exactly the way it did last time. Remember, Jamie Dimon just got his deregulation dream pushed through Congress. Combine that with brokers, agents, attorneys etc all hankering for their 'cut', and it is indeed a recipe for disaster.

      Besides, the economy does not need the boost at this time. Slow and steady is what's occurring right now, and it is good enough.


  • #3

    Jack Walker wrote:
     

    The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

    President Obama

    __________________________________________________ ____

    Comment


    • #4
      Low income home owners were not the cause of the foreclosure crisis.

      CRA-backed mortgages only accounted for about 20% of the foreclosures that occurred during the crash. The largest numbers were racked up by "house flippers".

      Comment


      • #5

        Jack Walker wrote:
         

        The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

        President Obama

        Comment



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