“Bottom line, a system is now in place which makes obtaining home loans difficult for most borrowers”
Which it should be!!!!
FHA should be eliminated also and go back to like it was 40 years ago where the lending institution that made the loan had to carry it.
Government has no right to put people into homes!!!
If you can’t qualify to pay for it rent or go live under a bush!
By taking this route, foreclosures will continue to soar, which effectively will tax all homeowners in this country through increased income taxes (in order to pay for all the money given to banks and their insurance companies like AIG) and lower values of properties.
While I agree with your statement, “Government has no right to put people into homes”, this same Government has now dictated to banks who they can or can’t lend to, making the housing problems worse than they would have been had Government just stayed out of the situation.
The housing market was the catalyst to the economic decline, and I don’t see the economy recovering without an improving housing market.
This administration has really dug us all a giant hole.