Loonies at the Helm
Democrats Vote Down 5 Percent Rule
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. His proposal was rejected 57-42 on a 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."
(DUH that's pretty much the point senator Dodd. Here's hoping Lynda McMahon mops the floor with your butt come November.)
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. His proposal was rejected 57-42 on a 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."
(DUH that's pretty much the point senator Dodd. Here's hoping Lynda McMahon mops the floor with your butt come November.)
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