Exactly who made Bernadine Shimon think that she could buy a new house shortly after declaring bankruptcy and losing another home to foreclosure? The American taxpayer, that’s who.Hope and change.
Without a Federal Housing Administration willing to guarantee a $125,000-plus mortgage, this Denver-area schoolteacher’s recurring “dream of homeownership” could not come to pass. Shimon’s down payment was a tiny 3.5 percent.
This single mother is so strapped that she had to cash in her retirement savings to come up with the 3.5 percent ...
(C)ommittee Chairman Barney Frank of Massachusetts insists that these mortgages are needed to “keep prices from falling too fast.”
Saturday, November 14, 2009
What We've Learned So Far
... absolutely nothing.