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They actually RAISED the # of homes the wealthy can get on the backs of the poor and middle class taxpayer.
From your link Investor and second home borrowers that seek to own between 5 and 10 financed properties must meet additional eligibility requirements. Borrowers must have a credit score of at least 720. The maximum loan-to-value ratio is 70% or 75%,
From your link Investor and second home borrowers that seek to own between 5 and 10 financed properties must meet additional eligibility requirements. Borrowers must have a credit score of at least 720. The maximum loan-to-value ratio is 70% or 75%,
Do they require such standards off the poor? NO..
Doesn't matter. The cheese is substantial from a dollar standpoint and the taxpayer (primarily middle class but sometimes the poor who are on the cusp of gov't assistance) funds it.
Doesn't matter. The cheese is substantial from a dollar standpoint and the taxpayer (primarily middle class but sometimes the poor who are on the cusp of gov't assistance) funds it.
if you've read enough of my postings, you'd know that I dont support Fannie/Freddies existance. In fact Bush tried to substantially downsize both of them but Democrats fought him for years..
if you've read enough of my postings, you'd know that I dont support Fannie/Freddies existance. In fact Bush tried to substantially downsize both of them but Democrats fought him for years..
I'll grant you that. Bush also subsidized old farts through socialized medicine, also funded on the backs of the poor and middle class.
Until all cheese goes away, the rich cannot whine and cry the poor are getting it also.
How did he fund it on the backs of the poor and middle class?
It was $400B in entitlements to promote socialized medicine, probably higher because all gov't programs are more than the gov't claims (makes the bill easier to pass ya know). There was insufficient monies in tax revenue to pay for it, so the money was borrowed. Bush needed the old fart vote for 2004 and that was that. The taxpayer is responsible for paying the interest on this borrowed money. Even at 3%, that's $12B per year the poor and middle class is responsible to pay back. When interest rates rise as they inevitably will, that will be more of a burden on taxpayers.
The poor can build equity on the backs of the taxpayer? The poor can use the taxpayer to fund their home flipping fetish? The poor can rent out apartments to section 8ers? The poor can buy a farm and get grants to grow or not grow corn?
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What does any of this have to do with the thread?
