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<blockquote data-quote="Alan Peters" data-source="post: 839339" data-attributes="member: 58139"><p>Community Reinvestment Act under Carter was the downfall of the mortgage crisis compounded with the Equal Credit laws. Then in 1992 Federal Housing Enterprises Financial Safety and Soundness Act of 1992 allowed for more open and "cheap houses". Giving those mortgages who could not afford them. Then to boot, Fannie and Freddie give extentions to those who could not pay. Guess what, they still didn't pay.</p><p></p><p></p><p></p><p>IMO, it started under Carter, changes made during Bush 41, Clinton making the biggest impact of freebe type mortgages. Then the crash under Bush 43. </p><p></p><p></p><p></p><p>PS: Does anyone still see the "bad credit, no credit, no problem" commericals we were bombarded with during the 90's?????? Also is your mail filed with credit apps?????</p></blockquote><p></p>
[QUOTE="Alan Peters, post: 839339, member: 58139"] Community Reinvestment Act under Carter was the downfall of the mortgage crisis compounded with the Equal Credit laws. Then in 1992 Federal Housing Enterprises Financial Safety and Soundness Act of 1992 allowed for more open and "cheap houses". Giving those mortgages who could not afford them. Then to boot, Fannie and Freddie give extentions to those who could not pay. Guess what, they still didn't pay. IMO, it started under Carter, changes made during Bush 41, Clinton making the biggest impact of freebe type mortgages. Then the crash under Bush 43. PS: Does anyone still see the "bad credit, no credit, no problem" commericals we were bombarded with during the 90's?????? Also is your mail filed with credit apps????? [/QUOTE]
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