Obama administration pushes banks to make home loans to people with weaker credithttps://www.washingtonpost.com/busin...8893&tid=ss_fbThe Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
No. No more NET taxpayer backed programs.In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
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Let them fix their credit first, ffs
Let me articulate this for you:
"I'm not locked in here with them. They're locked in here with me!!"
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