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Politics : Formerly About Advanced Micro Devices
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To: Brumar89 who wrote (423657)10/8/2008 8:30:21 AM
From: HPilot  Read Replies (1) of 1587172
 
We should give people mortgages they can't handle because of the borrowers race?

If anything its Barney Frank and the sub prime mortgage companies who are the racist's. Sub prime mortgages are mortgages which are given to those who cannot qualify for loans with their credit. If they are poor its their low income that gives them bad credit. These loans are at higher interest rates. So duh banks think they couldn't pay these loans at regular rates, so they can pay them at higher rates?

Many of these people were debt free before. Why not a program to help them save and pay a large down payment instead? I guess that wouldn't be profitable for Barney's lover.
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