I'm voting for Obama now. Fucking McCain wants to buy bad mortgages!! W.T.F!

[Human Snorenado]

This should pretty much clear up who was to blame.

As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail....

Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.

Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006.

Federal Reserve Board data show that:

       * More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

       * Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

       * Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.

The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets reported Friday.

[Brehvolution]

I can speak with experience with this sub prime shit. We bought our house a few years ago at an interest rate of 7.7% on an $85000 loan. They said it would be fixed for 3 years and then go variable. We just wanted the house. It turns out, since we bought our house in November, that we only really had 2 years 1 month of fixed rate since the rate was by CALENDAR year. Our interest boomed to 10.7% and an additional $400/month, all interest, was added to our mortgage payment. No one would re-finance us since we didn't live in our house long enough or because we couldn't put down a $4000 down payment. And now it may be too late.
Our rate has dropped with the fed cuts though I think we are still only paying $200 less than what was our peak. :'(
At least we are still here and clawing back.

zero, i am obligated by decree of master ken to offer you and your family a space under my bed if you need it. it's on risers so i think you can probably fit any children/animals you have on top of you if they're not fat.

The perks of being a Sony fan. X's and O's to Kev.