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Here we go again: Obama administration pushes banks to make home loans to people with weaker credit
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[quote:T-Cain:MV8yMTg5NTc2XzM3MDUyNzc2XzZFNTlGRkM=] [quote:mathetes:MV8yMTg5NTc2X0MyRjAxNzlD] Good grief, didn't these idiots learn anything from the last housing credit debacle? 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. [b]John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”[/b] http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html [/quote] Banks are starving to ramp up home loans again. The only major business they're getting now is re-financing which hurts depositors. I'm working on 5 now. I'll save 21k per year just in interest. The longer this goes, the more our economy is hurt and banks won't loan new money. Under the new lending over-corrections, 70% of Americans don't qualify for 1st money, A bank loans. [/quote]
Original Message
Good grief, didn't these idiots learn anything from the last housing credit debacle?
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.
John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”
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link to www.washingtonpost.com
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