CH>I can't figure this out at all. In the Fort Worth metroplex (That's in
CH>north east Texas, folks) there has been reported many "low income
CH>families" (combined 40K) applying for aid for their---- SUV's...

CH>I can't figure it out. These are some of the same families owning a
CH>house they can't pay for and end up with Foreclosure. These people get
CH>what is called a "subprime mortgage" ("bad loans given at high
CH>interest to high risk urban low income people).

CH>I don't get this either. Why give a loan to someone who is high risk ,
CH>at all? (High risk meaning spotty employment/bad credit records.)


The "Sub Prime" Loans were instituted in the Jimmie Carter Era.It was a
scam top get Pepole who could not afford Homes into them.
Fro many years becasue of the appreciation of Home Values it worked
pretty well. BUT like All Scams at soem point the "Chickens Come home to
Roost"
THAT day has arrived. Now we have IDIOTS in Washington actualy
concidering FORCING lenders to Lower the Loan ammount Due to less then
the Current Value of the Home.
How is that going to Work???
---
 þ SLMR 2.1a þ Typo Tom strikes agaoin