The same people who are behind on their house payment and have thousands in credit card debt are continuing to buy things that they can't afford. I heard that 60% of people are living paycheck-to-paycheck. Don't worry, many will declare bankruptcy and blame the government and society for their problems, then go vote democrat in 2012.Once again,
In 2003 Fannie Mae with Barney Franks Live in Boyfriend as the CEO of Fannie Mae, Nancy Pelosi, Chris Dodd-the owner of a FREE MORTGAGE from Countrywide and Harry Reid pushed a Bill through Congress demanding all PEOPLE get a home loan whether they qualified or not. Yes, a housing boom occurred when everyone was a buyer on stated income. By 2005 every Lender was required by law to make at least 20% of all their loans to minorities with or without jobs or face government fines. ACORN was marching every office that Qualified their buyers, led by- you know who-our COMMUNITY ORGANIZER. THEY DEMANDED you make loans to people without qualifying them. The fallout is every American who bought a home, MAINTAINED a home, Paid taxes on a home, and actually qualified for a home loan. YET, not one Politician has ever taken responsibility for using Fannie Mae to force this Real Estate Nightmare on Americans. We let them take it all and get away with it.
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