Housing bubble part deux
 

...with a racist flair.

I guess the left has a short term memory, they're trying to buy votes, or they really are trying to subjugate us all.

http://www.investors.com/NewsAndAnal...?id=577794&p=1

This administration sure likes using the race card to perpetrate whatever is the flavor of the week.

bad link. But I'm sure it blames Bush.

http://www.investors.com/NewsAndAnal...?id=577794&p=1

How's that Hope and Change, Obamabots? Left or Right, Progressive or Conservative, you all should pull your heads from the sand and see what this administration has done, is doing, and will do.

I'm confused, I thought denying service or products was racism, now we're going to punish people for making product available to brown people? If these companies denied mortgages to people "on public assistance", Holder would still go after them. Get these fucking clowns out of DC.

The AG is saying that welfare cheats can get mortgages with money that doesn't belong to them. The taxpayer is AGAIN funding the deadbeats. Can't afford to stay in your home, NP, go on welfare and get a low interest mortgage funded and paid with government money that they'll just print up, become property of the state, get lazy, don't bother getting an education, welfare gets you the bare minimum of what you need......Geezus, it's "1984". Obama's also discovered that perpetuating armed conflicts around the world are good for his plans. Again, "1984". Congratz you warm and fuzzy self righteous hypocrites.

this sort of stunt is nothing new from the DOJ:

http://scottystarnes.wordpress.com/2...cans-recruits/


Not sure why any of these things have any concern to the DOJ.


But yes, I've heard Obama talk about easing the requirements to get loans for mortgages again recently...like he actually believes that Bush was the problem and not the horrible policies that led to our "Credit Crisis"

I'm closing on my house soon. Lending requirements are a bit funky, but I don't know if they were like this in the past.

First was the typical, but reasonable things, such as verifying down payment/closing funds, proving you have access to the funds, then the financial/credit background checks to prove you made money legally and will continue to do so.

Second is the part that makes no sense. Every lender I spoke with wanted to do everything in our power to avoid considering any credits as part of the total closing costs. The philosophy is that they (governing body/regulators, not specifically the lender) want to see that the buyer would be able to pay for the transaction without consideration of any of the credits. The oxy-moron is that the credits are all documented and guaranteed through the home purchase agreement and lender/realtor agreements.

For example, items such as tax prorations, seller paid title insurance, realtor commission sharing credit, lender interest rate credit, 2 months worth of emergency savings. All in all, our lender needed to see about $8-10k more than than we will actually need to close.

Are the realtor commission sharing & lender rate credits new practices? The lender rate credit works like this, as I understand: borrower locks rate 30-60 days ahead of closing @ x%. At closing, lender sells loan to loan servicer for (x+xx)% and returns a credit to you based on the immediate profit they took off of your loan.

I always put Native American or Other on all of my documents just to fuck with this socialist bullshit system. They cannot and will not punish you for for how you self-identify. If enough people do this it will collapse this corrupt game.

Obama is as much white as he is black but self-identifies as a negro. Tiger Woods is much more Asian than negro because his father was only half negro and his mother was "me love you long time soldier boy." http://en.wikipedia.org/wiki/Tiger_Woods
Yet to so many he is black.