PRICELESS AND BRIEF 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 for a loan. His proposal was rejected 57-42 on a straight 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. I cant add anything to this - - - - I just cant.
Posted on: Wed, 15 Jan 2014 21:49:54 +0000