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Are You Kidding Me? Send Forrest Gump To Washington

I've asked before. I'll ask again. With Fannie, Freddie and FHA raising their skirts to qualify more home buyers, who is looking out for mortgage affordability?

"The subprime market had shrunk to virtually zero percent in the first quarter of 2008 after triggering the housing collapse following defaults by borrowers. The market share of subprime US home mortgages [thanks to Fannie Mae, Freddie Mac and Ginnie Mae] has returned to pre-crisis levels, a central bank report showed Monday." AFP 2009 **

Are you kidding me?

To quote my favorite movie, "And that's all I have to say about that." Forrest Gump 1994

Your companion in straw hats, Kate Ford

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**View the AFP article in entirety here

Posted by Kate Ford Mortgage Translator on 10/27/2009 04:36 PM

Comments (12)

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12 Comments on Are You Kidding Me? Send Forrest Gump To Washington

OCT

And the big problem is, never mentioned in "the press," you and I now own most of it. What's that, $80 trillion?

Jay, yes, the kicker is that it's OUR money.

To think I pride myself on never having made a bad investment. Guess the jokes on me. LOL.

Mrs Kate,

Your insight is so insightful that I find it incites me.

Nutsy

PS -- quit bashing me to the boss

OCT

Kate,

Keep hammering away at the idiots with your posts; some's going to notice.

Sue - most people make their worst investments in the voting booth...

Suesan, it's all a matter of figuring out how to invest with money that's not your own. See, that removes all of the risk.

Terry, when it happens, can you provide refuge? The only problem might be the size of my family.

Jay, I agree.

Oh yah, I almost forgot that thing wearing a pink bonnet.

Kate, Unbelievable. What does it take to get someone not to continue making the same mistakes?

Susan, Last night I read the article to one of my daughters but I can't publish her reaction. Although what she said wasn't pretty, it WAS descriptive. :)

Kate, love the passion :)

Hey Mario, I have a reader who comments a lot on my mortgage website. He asked me recently if I thought any lessons had been learned by the mortgage debacle.

Here's his reaction to this article:

"Forrest was right, what can you say.. the patient was dead or left for dead, so the solution is to give the patient more what is killing him in the first place.. where is the logic in this?"

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