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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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<blockquote data-quote="Richard L" data-source="post: 963040" data-attributes="member: 52972"><p>KL,</p><p></p><p></p><p></p><p></p><p></p><p>The absence of facts does not mean someone should make up their own scenario, and publish them as facts just to fill the vacuum.</p><p></p><p></p><p></p><p>KL and Hugh,</p><p></p><p>I don't see where the article even suggest that Obama want's to jump start the sub-prime mortgage market again. It only appears that he is concerned that credit is no longer available to certain areas populated by blacks.</p><p></p><p></p><p></p><p>The mention of the word "Redline" as being areas where the lenders will not even consider anyone living in those areas, makes the practice questionable? I think if you draw a circle around all the poor black areas in town and say you are not going to give credit to anyone who lives in that area is wrong if you do not even evaluate their credit worthiness.</p><p></p><p></p><p></p><p>Sub-Prime means loaning mortgage money to someone who normally would not qualify for a loan at that low of an interest rate.</p><p></p><p></p><p></p><p>I don't think the article means that Obama wants or is pushing for continuing the Sub-Prime mortgages, he is questioning the banking practices of Redlining predominately poor black neighborhoods and denying everyone access to credit assuming that nobody on the other side of that line is credit worthy.</p><p></p><p></p><p></p><p>...Rich</p></blockquote><p></p>
[QUOTE="Richard L, post: 963040, member: 52972"] KL, The absence of facts does not mean someone should make up their own scenario, and publish them as facts just to fill the vacuum. KL and Hugh, I don't see where the article even suggest that Obama want's to jump start the sub-prime mortgage market again. It only appears that he is concerned that credit is no longer available to certain areas populated by blacks. The mention of the word "Redline" as being areas where the lenders will not even consider anyone living in those areas, makes the practice questionable? I think if you draw a circle around all the poor black areas in town and say you are not going to give credit to anyone who lives in that area is wrong if you do not even evaluate their credit worthiness. Sub-Prime means loaning mortgage money to someone who normally would not qualify for a loan at that low of an interest rate. I don't think the article means that Obama wants or is pushing for continuing the Sub-Prime mortgages, he is questioning the banking practices of Redlining predominately poor black neighborhoods and denying everyone access to credit assuming that nobody on the other side of that line is credit worthy. ...Rich [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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