[Sr Wisdom]

...immediately order this done when you become president? Originally when our Saving and Loans mortgage lenders required that home buyers have 20% down and had to prove it was their money, not borrowed from parents or others and held the mortgages in house until paid everything worked and this country's housing and the middle class thrived. When Savings and Loans companies were allowed by the government to become banks and to change the rules and regulations, first by no longer requiring abstracts, just title insurance and started trading the mortgages so they could gouge the buyers another minus had arrived. When these same companies required that each time a house was sold that the balance of the loan be paid in full by the seller at the time of the sale instead of allowing the buyer to assume the existing loan and take out a second mortgage on the balance they owed,, again, it was a blow to consumers and their fees went up due to redoing all requirements, Namely, new closing papers, title-work, surveys, inspections and all the fees so that the system could make money. Then when the Democrats in office wanted to provide people with homes whether they could afford to keep them up and make payments after they bought them and granted government insurance backed loans provided by Fanny Mae and backed by taxpayer money the biggest debacle of all began. Then the rules were relaxed to the point where individuals could go into the business of soliciting clients and obtaining their loan for them for a fee without a lot of reason to check the buyers facts and qualifications. Then Freddie Mac arrived because Fanny was too large to handle. Paper trades were made of all these loans and when the bubble burst it was found that many dispossesssed people, the buyers, did not have the proper paper trail. It is time to get back to ethics, work for the middle class and get the government out of the mortgage business. Americans deserve this after all they have lost.