Wednesday, June 19, 2013

On the FHA Still Offering Loans With Only a 3% Down Payment

Have not these imbeciles in Washington learned anything? Unless a person puts a substantial down-payment into his or her purchase, there is literally zero incentive for a person not to walk away from it (yeah, their credit rating will probably be effected but a lot of these idiots simply don't give a rat's ass). Couple that with the ridiculously idiotic policy that's been coming out of the FED (preposterously low interest rates, a tripling of the monetary base, etc.) for a decade or so and it really ISN'T surprising the fact that the recovery has so anemic (thank the good Lord for the energy sector).

4 comments:

dmarks said...

Backing up a little bit, there is absolutely no need for an FHA, or Freddie and Fannie for that matter. Agree?

Will "take no prisoners" Hart said...

100% (and it isn't even addressed in Dodd-Frank).

Rusty Shackelford said...



How long did the Roman Empire last? 1000 years? We will never make it.

Will "take no prisoners" Hart said...

Our only saving grace is that Europe is tumbling down the rat-hole at an even faster rate than we are.