'Dignity Mortgages': Welfare By Another Name

[Geee]

Investors Business Daily:

Concerned that foreclosed subprime borrowers won't qualify for another home for years, housing-rights groups want banks to offer them "dignity mortgages." Here we go again.

This is the left's latest scheme to make amends for its disastrous experiment to socialize mortgages for people who could not afford homes before the crisis and should never have been approved in the first place.

But it won't end any better, especially for the inner-city minorities whose credit the left's already ruined.

Housing activists' new bright idea is approving home loans for people who have rebuilt their finances since losing their job and their homes during the crisis, but who still have bad credit.

Though required to make a down payment, inner-city housing groups could front them the money.

This new type of loan they're pitching to bank regulators would come with a higher rate to cover the higher risk.

[Pepper]

oBama and friends were pushing this a couple of years ago already

 

@Geee, gee, I don't know if we have ever tried this before, giving loans to people who normally don't qualify. I wonder how it will work out?

[Draggingtree]

oBama and friends were pushing this a couple of years ago already

 

@Geee, gee, I don't know if we have ever tried this before, giving loans to people who normally don't qualify. I wonder how it will work out?

you didn't hear "Great"