From: Mark [EMAIL PROTECTED] > [EMAIL PROTECTED] wrote: > > From: Mark [EMAIL PROTECTED] > > > > > >> Is this one of the areas targeted by ACORN ? > >> http://kcet.org/socal/2008/09/foreclosure-alley.html > >> > > > > As a matter of fact, it was: > > > > <http://www.ocrealestateblog.com/blog/OrangeCountyMortgageFinance/_archives/2007/6/1/2992339.html> > > > > Francis Drouillard, PE > > > Well, Bruce's initial response was more along the lines of what I was > getting at > "Please, the whole ACORN/CRA business is republicans blaming it on the > dark people as usual."
That's pretty typical of wild-eyed liberals. Conservatives are blaming Barney Frank, Chris Dodd and other Democrats that fed at the trough of the Freddie Mac and Fannie Mae trough. They can try to distort that into "racism," but their fingerprints are still all over this meltdown. And who was one of the biggest beneficiaries of political donations from Fannie Mae and Freddie Mac? Obama weighed in at #2. Who tried to rein in Fannie Mae and Freddie Mac? The Bush administration on several occasions and McCain in particular. Who shot them down? Barney Frank, Chris Dodd, Charles Schumer and Maxine Waters to name a few. What argument did they use? Racism. It worked back then, so it's no wonder they're resorting to that tactic once again. > However, I wouldn't play the race card and I do hold the buyer who makes > an insane deal primarily responsible for his bad decision. They bear a great deal of responsibility, too, which is why McCain's offer to bail them out in last night's debate went over like a lead balloon with conservatives. (However, were I to have my druthers, I'd rather the US govt. take over the actual mortgages instead of the MBS's.) Obama and other community organizers in the ACORN network threatened lawsuits against banks that didn't loosen their lending standards enough to enable folks to enter mortgages they otherwise wouldn't qualify. I'm not saying that's good or bad -- I'm saying Obama has some explaining to do. And so do Republicans like Bennet of CO that went along with the Democrats and failed to rein in Mac and Mae, as well as Republicans like McCain that wilted when the bogus racism charge was leveled. > That being said, that page fairly implies a person making 109k can get a > 500k home with no money down. > I have no idea how you declare undocumented income without kinda > documenting it and I do not understand this > "Ratios of income to debt can sometimes be as high as 60/60." 60/60 > means 1/1 to me. > I searched for this and, interestingly enough, the first thing I found > was an ad for Countrywide and then an article written in 2006 that > warned of an impending mortgage meltdown if people continued to misuse > creative lending practices. Francis Drouillard, PE Novato, CA 94945 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/StrataList-OT?hl=en -~----------~----~----~----~------~----~------~--~---
