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Jim in CT · 01-03-2011, 08:07 AM

Spence -

I read that CNN link that you posted. If you had read that link before assuming that it supported your inane conclusion that Bush pushed subprime mortgages, you'd see that the bill called for the feds helping minorities come up with down payments. The bill would have subsidized down poayments for folks that could afford the monthly payment, but who didn't yet have a large enough down payment.

You see Spence, the notion that sufficient down payments be part of a mortgage is NOT what the subprime mortgages were about. That's traditional financial underwriting.

01-03-2011, 08:07 AM	#20
Jim in CT Registered User Join Date: Jul 2008 Posts: 20,441	Spence - I read that CNN link that you posted. If you had read that link before assuming that it supported your inane conclusion that Bush pushed subprime mortgages, you'd see that the bill called for the feds helping minorities come up with down payments. The bill would have subsidized down poayments for folks that could afford the monthly payment, but who didn't yet have a large enough down payment. You see Spence, the notion that sufficient down payments be part of a mortgage is NOT what the subprime mortgages were about. That's traditional financial underwriting.