Off-Topic: 5% Rule and Chris Dodd's comment why it was voted
(Logan Martin Lake Specific)
4,319 messages
Updated 7/5/2024 7:54:28 AM
Lakes Online Forum
83,787 messages
Updated 7/26/2024 4:03:04 PM
Lakes Online Forum
5,199 messages
Updated 7/19/2024 2:31:51 AM
(Logan Martin Lake Specific)
126 messages
Updated 12/23/2022 9:21:15 AM
Lakes Online Forum
4,171 messages
Updated 6/27/2024 7:05:46 AM
Lakes Online Forum
4,261 messages
Updated 5/28/2024 6:31:10 AM
Lakes Online Forum
2,979 messages
Updated 6/26/2024 5:03:03 AM
Lakes Online Forum
98 messages
Updated 4/15/2024 1:00:58 AM
|
|
|
|
Name:
|
water_watcher
-
|
Subject:
|
5% Rule and Chris Dodd's comment why it was voted
|
Date:
|
6/19/2010 8:25:27 AM
|
|
Democrats Vote Down 5 Percent Rule
In a bid 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 in order to qualify.
His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained: "...passage of such a requirement would restrict home ownership to only those who can afford it."
|
|