BUSH SIGNS AMERICAN DREAM DOWNPAYMENT ACT
$200 million program will help tens of thousands of low-income families to become homeowners
WASHINGTON - There is a reason why many American families can't buy their first home - they can't afford the downpayment and other upfront closing costs required to qualify for a mortgage. For as many as 40,000 low-income fam
https://archives.hud.gov/news/2003/pr03-140.cfm
^^^^ that is the law that created the sub prime crisis
You have to love the swamp rat logic: "You can't afford a home because you can't afford the down payment. Here - we'll just give you the money. Enjoy!"
Uh...maybe they don't have the down payment because they can't afford the house in the first place?
Right. Without the discipline or initiative to earn a down payment, they aren't going to have the discipline or initiative to make the monthly payments.
Bush created the bad debt bubble
^^^^ that is the law that created the sub prime crisis
You have to love the swamp rat logic: "You can't afford a home because you can't afford the down payment. Here - we'll just give you the money. Enjoy!"
Uh...maybe they don't have the down payment because they can't afford the house in the first place?
"RAYCIST!"
Right. Without the discipline or initiative to earn a down payment, they aren't going to have the discipline or initiative to make the monthly payments.