In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac,
Senator Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify for a loan.
His proposal was rejected 57-42 on a straight party-line vote because, as Senator Chris Dodd (D-Conn) explained, "Passage of such a requirement would restrict home ownership to only those who can afford it."
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
Well yeah, home ownership SHOULD be restricted to only those who can afford it!
Someone please explain why these idiots get elected.....
Someone please explain why these idiots get elected.....
March 6, 2014 at 9:26 PM
Because BIGGER idiots vote.
11:38 - or people vote that shouldn't...think about why the Democrats court the illegals and decry ID's at the polls....it would cut down on their votes.....
Chris Dodd is not even in the Senate anymore --he is now President of the Motion Picture Association of America-- now there is a gift for serving his Masters well..
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