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Old 10-18-2010, 12:54 PM
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Default What piece of legislation forced mortgage brokers...

...to do thinks like sell a $400,000 home to people who could? only afford a $200,000 home?Mortgage brokers,offered less-credit-worthy home buyers subprime, adjustable rate loans with low initial payments and exploding interest rates. Real estate agents, most of whom work for the sellers rather than the buyers, earned higher commissions from selling more expensive homes.
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Old 10-18-2010, 02:46 PM
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What kind of an idiot applies for a 400K mortgage when they can't afford it?
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Old 10-18-2010, 03:10 PM
Blu Blu is offline
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The Community Reinvestment act by Jhimmi the Dhimmi, placed on steroids by Bill Clinton.
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Old 10-18-2010, 05:40 PM
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The Community Reinvestment Act. Look it up.
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Old 10-18-2010, 05:44 PM
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Clinton took Carters crap bill and injected a move that made it mandatory that welfare be considered means to pay back a loan for a house that the minority owner could never possibly pay back. Another gem given to us by the loony left.
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