Fact: nearly 50% of homeowners across the country are - TopicsExpress

Fact: nearly 50% of homeowners across the country are "Underwater." Which means in 2008 they lost all their equity and now owe more on their mortgage then the home is worth. Most people who did not make a down payment, just walked away, and left Fannie & Freddie with the toxic loans they themselves created. And we keep re-electing these idiots! For instance: 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 to qualify for a new loan. His proposal was rejected 57-42, because, as Senator Chris Dodd (D-Conn), and barney Franks, who co-author the last housing crash, Explained, "Such a requirement would restrict home ownership to only those who can afford it." Duh, Can you believe it.

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