Sunday, January 10, 2016

Look Out

The next global financial crisis has started.

Guess what?  The same dumbarses who started the last one are at the helm.  That's right.  The Democrats are at it again, using precisely the same misguided strategies which blew up in their faces before. Do you remember the NINJA loans which defaulted en masse and broke the mortgage insurer AIA, triggering the Global Financial Crisis?

In case you have forgotten, NINJA means No Income No Job No Assets.   Well, here they are again, thanks to the black arsed jackass in the White House.

......The HomeReady program is offered through Fannie Mae, which is now controlled by Obama's old Congressional Black Caucus pal Mel Watt.......

........But now, as a renter, you can get a conventional home loan backed by Fannie by claiming other people's income. That's right: You can use your apartment roommate's paycheck to augment your qualifying income..........

........You don't need good credit either. You can qualify with a FICO credit score as low as 620, which is subprime. And you can put as little as 3% down.......

plus ça change, plus c'est la même chose

5 comments:

Nick K said...

Shit! Well spotted.

The Veteran said...

It's called buying (Democratic Party) votes. 3% deposit basically equals zero equity when you add in fees. Still, with the loan virtually guaranteed by the State what could possibly go wrong!!!!!!!!!!!!! sigh.

Adolf Fiinkensein said...

Nick

Thanks to Instapundit.

Angry Tory said...

Time to Bundy the D'RATS - the lot of 'em!

Anonymous said...

I find that Instapundit is far to liberal along with it's parent PJ Media https://pjmedia.com/faith/

I much prefer my scary news from The Ku Klux Klan Monthly. Some of those fashion articles are entertaining for all the family like 101 things to do with bedsheets, Halloween bedsheets for beginners and how to remove those unsightly stains from your dress bedsheet. The Hints on determining whether it's nigger or Muslim blood on your bedsheet.

I wish Adolf well in his determination to win the No Minister cut and paste award.

Lord Egbut