bonnie Posted November 22, 2012 Share Posted November 22, 2012 November 21, 2012 FHA pushing more subprime loans Richard Butrick After two foreclosures and two bankruptcies, Hermes Maldonado, a Honduran immigrant, recently qualified for an FHA loan for a home in the Los Angeles area. "After everything that happened, thank God I was able to buy another house." How can that be possible three years after the collapse of the last housing bubble? Yet Obama is at it again. The Federal Housing Administration is rebanking the same borrowers who defaulted during the last housing bubble. The FHA is pushing home loans to so-called rebound borrowers who recently defaulted on past mortgages. "The agency is allowing lower-income borrowers to get loans just three years after foreclosure with as little as 3% down and lousy credit scores. In fact, a whopping 40% of newer FHA-backed loans are subprime." Another bubble, another crises, more government control? Home ownership is a moral imperative, reality be dammed? You got me. Read more: http://www.americanthinker.com/blog/2012/11/fha_pushing_more_subprime_loans.html#ixzz2CuvNLOrq Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
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