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

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    Colts fan & Stoker owner RitcheyRch's Avatar
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    Default Obama administration pushes banks to make home loans to people with weaker credit

    And they say history repeats itself.


    http://www.washingtonpost.com/busine...y.html?hpid=z1


    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’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

    In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
    Last edited by RitcheyRch; 04-03-2013 at 07:16 AM.
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    Living in a cage of fear thatguy's Avatar
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    Motherf*cker.............
    Tommy
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    Tommy please remove all Jimsplace quotes from your sig and don't put more back. He doesn't like it and it is against the rules. Thank you.
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    Stay tuned. More foreclosures to come. More wannabe ballers loosing new boats.

    America is the land of equal opportunity, not equal success.
    “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” .. Thomas Jefferson

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    Marine Organism Forkin' Crazy's Avatar
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    INSANITY!!!
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    Senior Member Pm/pe122's Avatar
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    Quote Originally Posted by Fullup View Post
    Stay tuned. More foreclosures to come. More wannabe ballers loosing new boats.
    isnt that the truth ! new hummer , new tower boat , bmw in the driveway , and working for 15 an hour ! you dont see that any more , but you will again !

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    Living in a cage of fear thatguy's Avatar
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    Hey, what's the big deal?
    WE are insuring the banks!!

    Where is the dipshits (Rod, Shue, etc.) to explain how this is a good thing their POS messiah is pushing???

    Was NOTHING learned from the whole Barney Frank/ Freddy mac debacle??

    Absolute LUNACY!
    Last edited by thatguy; 04-03-2013 at 08:41 AM.
    Tommy
    Quote Originally Posted by Rexone View Post
    Tommy please remove all Jimsplace quotes from your sig and don't put more back. He doesn't like it and it is against the rules. Thank you.
    "So as through a glass, and darkly
    The age long strife I see
    Where I fought in many guises,
    Many names, but always me."

    Gen. George S Patton

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    This is all empty suit liberals got. They are pathetic.

    I've noticed the talking head liberals are talking in circles trying to explain why their believes are not failing. Kinda funny to watch the clowns do their performance.

    America is the land of equal opportunity, not equal success.
    “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” .. Thomas Jefferson

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    Red Blooded American The Doctor's Avatar
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    At least this go around won't be blamed on Bush. Liberals everywhere rejoice in the coming flood of foreclosures!
    The best things in life aren't things!

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    Red Blooded American The Doctor's Avatar
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    Click image for larger version. 

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    The best things in life aren't things!

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    I don't feel tardy Hallett Dave's Avatar
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    Quote Originally Posted by RitcheyRch View Post
    And they say history repeats itself.


    http://www.washingtonpost.com/busine...y.html?hpid=z1


    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’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

    In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
    Fannie & Freddie II, coming to a community near you soon. Fucking retards.
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    Im non induced and My turd leaves pretty hard as she sits.

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    gn7
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    Great idea. give $500,000 loans to people that already have a track record of not paying their bills. What a concept.
    I guess this is a great plan in the minds of the Libbies on the boards.

    My boss who has stellar credit and has for 50 years, was turned away for a re-fi on a house that has a 8 to 1 equity to loan ratio. When he asked WTF, they told him they were only interested in QE3 loans and that he didn't qualify.
    Think they aren't pushing loans to "less than stellar" applicants? Think there isn't a some incentive to push those loans from the government?
    He'll get the loan, but some loser making 20th the money, with shit credit, will get a better interest rate for no other reason than he is a loser.
    When good is considered bad, and bad is considered good........look out!



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    Red Blooded American The Doctor's Avatar
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    Quote Originally Posted by gn7 View Post
    . . . When good is considered bad, and bad is considered good........look out!
    Isaiah 5:20 comes to mind.
    The best things in life aren't things!

  14. #13
    gn7
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    Quote Originally Posted by The Doctor View Post
    Isaiah 5:20 comes to mind.
    Its come to my mind for a looooong time now!



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  15. #14
    Living in a cage of fear thatguy's Avatar
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    Quote Originally Posted by gn7 View Post
    Great idea. give $500,000 loans to people that already have a track record of not paying their bills. What a concept.
    I guess this is a great plan in the minds of the Libbies on the boards.

    My boss who has stellar credit and has for 50 years, was turned away for a re-fi on a house that has a 8 to 1 equity to loan ratio. When he asked WTF, they told him they were only interested in QE3 loans and that he didn't qualify.
    Think they aren't pushing loans to "less than stellar" applicants? Think there isn't a some incentive to push those loans from the government?
    He'll get the loan, but some loser making 20th the money, with shit credit, will get a better interest rate for no other reason than he is a loser.
    When good is considered bad, and bad is considered good........look out!
    Welcome to my world.
    Tommy
    Quote Originally Posted by Rexone View Post
    Tommy please remove all Jimsplace quotes from your sig and don't put more back. He doesn't like it and it is against the rules. Thank you.
    "So as through a glass, and darkly
    The age long strife I see
    Where I fought in many guises,
    Many names, but always me."

    Gen. George S Patton

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