Wednesday, September 24, 2008

Welfare, Unemployment Qualified As 'Income' For Mortgages

Under Clinton, the federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of HUD, Andrew Cuomo, investigated Fannie Mae for racial discrimination, and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low to moderate income borrowers by 2001.

read more | digg story

1 comments:

Ray said...

Despite the stats, I see so many high paying jobs posted on employment sites -

www.linkedin.com (networking)
www.indeed.com (aggregated lists)
www.realmatch.com (matches you to jobs)

I see 75K, 100K and 150K jobs

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