You really don't read do you?<quoted text>
Where did I state that CRA's were the main culprit? I said it all started with CRA's and the main culprit was 0% down and no credit check issued by HUD. I also stated that the bad loans were mostly sub-prime loans that often come with ARM's or Adjustable Rate Mortgages.
What happened to my suburb was a crime. 0% down no credit check loans were responsible for turning my once nice city into the hood. Lowlifes flooded the area from the inner-city bringing the crime with them. Along with HUD buying and renting apartments and houses, 0% down brought in lowlife home buyers who had absolutely no ability to repay the loans. But they figured they would buy homes, not pay the mortgage, and by the time the bank kicked them out, they had free rent for several years.
Yes, it's true that things have settled down a bit now that the banks caught up with foreclosed homes and kicked these people back to the ghetto where they belong, but it doesn't discount the fact that it was government that promoted all this.
Government doesn't belong in the loan industry no more than the loan industry belongs in government. This is the disaster that takes place every single time government decides to run the private market.
Always your opinion over the facts.
Oh well. I was hoping for better. I see you only offer par or less.