I'm shocked that the DN would print something this biased.HUD
enforces any discrimination in housing laws, and they don't just go after
banks. Conventional loans died as a result of come-on rates from Fannie and
Freddie.The taxpayer was bearing the risk and Countrywide simply did the
deals and bundled the bad loans.Regardless of the institution it is
obvious that they were writing bad loans for people who had no business taking
out those loans.The refi scam (which is back again, by the way) allowed
people to take out cash for whatever they wanted (cars, vacations, theater
rooms, hot tubs...) over and over again.The author conveniently ignores
all the facts.
Having a fixed payment year after year has some security in knowing that rent
isn't going up year after year. Knowing that there is an end in sight the
incentive and gratification of owning a home out weighs not. sure you will
replace all the appliances before it's payed for and you'll have to
put a new roof on. you even have to mow the lawn and pull some weeds, spray for
bugs. But ya can listen to your music doing it, not the apartment next door.