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Saturday, May 25, 2013
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Chopin
La Vernia
November 5, 2012 7:43pm
I referred to the1999 Law where Frank and Dodd ONLY agreed to the revision IF AND ONLY IF all banks were to have to make 40% of their loans to first time home buyers AND they could BORROW the down payment! Remember when prior to that a person buying a home had to sign a sworn statement that therequired down payment at closing was from their own funds, not borrowed, or a gift from anyone!
Barney Frank and Christopher Dodd are scum bags!
The reason that the Bill was necessary was to legalize what the banks had already begun to do...BE A ONE STOP SHOPPING BANK!
THIS WAS THE CAUSE OF THE 2008 collapse! people who had no invested interest in the home at the beginning is kin to going to buy a car with no down payment.
Sorry for the delay. Just received notification that you had done your usual cheerful postings!
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