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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (47147)	12/13/2005 12:12:29 PM
From: John Vosilla	Respond to of 110194

"Buying a home is a key first step for many working families to start realizing the American dream," Blagojevich said in a statement. "Our new program helps families build equity and security for their future, it protects them from predatory loans and it will help thousands of families across Illinois build better lives." Mish it would make sense for federal/state partnerships in rural and depressed areas where this is really needed to spur economic activity such as Danville and Flint. These programs in bubble markets today will be a diaster and only spur even more hardship and foreclosure next downturn.. Negative amortization, interest only and 1% start rate loans, dependence on home appreciation on overvalued homes and debt slavery are not a foundation for building equity and security for their future..