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Records show White House refused to stop bad loans long before crash

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MrsRJP
Happy Spring!!!

Member since 12/07

2151 total posts

Name:
Rena Marie

Records show White House refused to stop bad loans long before crash

Now I don't know what to think of Bush. Chat Icon

Records show White House refused to stop bad loans.

Posted 12/1/08 12:38 PM
 
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youngmama
LIF Adolescent

Member since 4/06

530 total posts

Name:

Re: Records show White House refused to stop bad loans long before crash

Doesnt surprise me Chat Icon

Posted 12/1/08 12:43 PM
 

Mommy2Boys
My Boys!!!!

Member since 6/06

14437 total posts

Name:
C

Re: Records show White House refused to stop bad loans long before crash

Posted by MrsRJP

Now I don't know what to think of Bush. Chat Icon

Records show White House refused to stop bad loans.



Well Bush was the one who pushed for mortgage companies to lend these loans b/c everyone should be able to own a home Chat Icon Great idea...unfortunately the truth is, not everyone who bought a home could afford the one they bought which is why we are in this housing mess.

ETA: I worked for Countrywide for a few years. Not only did loan officers make more $$$ for closing a loan with a minority or "lower" income person, our office had to come in with a certain numbers each month of these types of loans.

Honestly, some of these people couldnt afford a car let alone a house. And you wouldnt believe the lying that went into closing these loans from the customer and from the loan officer. They magically made the number work.

Message edited 12/1/2008 2:01:57 PM.

Posted 12/1/08 1:59 PM
 
 

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