Skip to main content

So; Obama wants to give those that can’t afford it to begin with, with little to no credit Housing Loans now. . .when we are still dealing with the last mess!


Obama plan to open housing market to those with weaker credit sparks debate

WASHINGTON – The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit.
It’s 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.
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs – including those offered by the Federal Housing Administration – that insure home loans against default.
Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.
Seeds of Disaster 

Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan and are seeking to make it easier for people who owe more than their properties are worth to refinance at today’s low interest rates, among other steps.
Obama pledged in his State of the Union address to do more to make sure more Americans can enjoy the benefits of the housing recovery, but critics say encouraging banks to lend as broadly as the administration hopes will sow the seeds of another housing disaster and endanger taxpayer dollars. more

Just remember Obama;  people that earn minumim wage or less can’t afford a $800.00 or higher a month mortgage payment, your Obama Care Me$$, then pay to live without everyone in that household earning that much.  Maybe you forgot other expenses such as  family, food, utilities, Gas etc.. This is a HUGE DISASTER on top of an un to underemployed nation and a debt that keeps growing by the day.   shera~

Short URL: http://www.newsnet14.com/?p=122955

Comments

Popular posts from this blog

1914 Germany Afrikaner farmer Agreement

thank you Etienne 
translated from Afrikaner to EnglishTo all the people of the white race all over the world, most of all to the German nation: This is an important agreement Concerning the South African Boer people and the German nation. It has to do with an agreement between the Boer rebellion and the German troops in Southwest Africa. The Boer rebellion were lead by leaders of the Afrikaaner nation (General Manie Maritz, General SG Maritz, General Koss Delarey) and who’ll be fought against the English in the Second Anglo-Boer war from 1899 to 1902, where the Afrikaaner nation under hun president In Paul Kruger ulcers completely humiliated by the English when ze ulcers forced to sign the Treaty of Vereeniging in 1902. The atrocities committed against the Boers in the Concentration camps ulcers horriffic to say the least, and at least 30 000 Boer women and Children Were driven from hun farms Which Were torched under Lord Kitchener’s Scorched Earth policies. The attached files are an ima…

MS-13 and Los Zetas Drug cartels stealing millions of barrels of oil and taking over control of the drug trade.

Los Zetas vs Ms 13 from lastcombat.com Los Zetas is an armed criminal gang that operates as a hired army for the Gulf Cartel. The group is believed to be led by Heriberto “The Executioner” Castanon. Los Zetas, the Ninth CartelTuesday, May 18, 2010 |  Borderland Beat Reporter Buggs

Major pedophile Somali-Muslim sex gang busted in Minnesota and Tennessee.

In a series of arrests carried out Monday morning in the Twin Cities and Nashville, Tennessee, federal and local authorities broke up a human trafficking ring that provided underage prostitutes. A federal indictment unsealed Monday morning in Nashville details the sex trafficking operations of 29 Somali men and women tied to the Somali Outlaws, Somali Mafia and Lady Outlaws gangs, which are all connected and based in Minneapolis. Of the 29 indicted, 12 were arrested Monday morning in the Twin Cities, eight in Nashville and six were already in jail in various locations. Three remain at-large and wanted.MORE

 FBI-2011 National Gang Threat Assessment 2011 National Gang Threat Assessment – Emerging Trends
view printable version (pdf) The gang estimates presented in the 2011 National Gang Threat Assessment (NGTA) represent the collection of data provided by the National Drug Intelligence Center (NDIC) through the National Drug Threat Survey, Bureau of Prisons, State Correctional Facilities, …