PRICELESS AND BRIEF
In a bid to stem taxpayer losses for bad loans
guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob
Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment
in order to qualify for a loan.
His proposal was rejected 57-42 on a straight
party-line vote because, as Senator Chris Dodd (D-Conn) explained,
"Passage of such a requirement would restrict home ownership to only those
who can afford it."
I can't add anything to this - - - - I just can't.
2 comments:
WHISKEY TANGO FOXTROT! . . . . . .
"The difference between genius and stupidity is that genius has limits."....A. Einstein
Post a Comment