tag:blogger.com,1999:blog-8529580665294663953.post3648518365033689072..comments2023-10-27T04:26:57.609-07:00Comments on InvestorCentric: Obama's Housing Plan Will Just Create Another Housing CrashNuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8529580665294663953.post-77422620993892995382009-03-05T11:02:00.000-08:002009-03-05T11:02:00.000-08:00""Obama's new housing stability plan has some blat...""Obama's new housing stability plan has some blatant flaws, including most notably that it is setting us up for another crash 5 years from now""<BR/><BR/>That's the WHOLE POINT: pass this entire mess onto the NEXT administration, just like Georgie W Porgie did. That's EXACTLY why the USSA is now a Third World nation ..the buck always stops ...SOMEWHERE ELSE!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8529580665294663953.post-74083666686882173372009-03-05T09:47:00.000-08:002009-03-05T09:47:00.000-08:00There are many who believe that the cause of the c...There are many who believe that the cause of the current economic crisis is rooted in the Community Reinvestment Act (CRA), a law passed in 1977 in order to increase lending to lower income borrowers. The law led to the creation of the sub-prime loans that Treasury's housing plan seeks to modify. Under Treasury's plan, sub-prime borrowers whose loans have adjusted beyond their ability to pay will be able to get their interest rates reduced and their principle payments deferred in order to make their payments affordable. The irony is that the borrowers who caused the crisis by taking on more than they could afford will now get affordable homeownership, the original intent of the CRA. That’s persistence.Anonymousnoreply@blogger.com