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President Clinton, I Did Not Cause Collapse 2008

Posted 18 Mar 2010 at 22:24 PM by spanner

In the loans made the buyers did not have to pay interest for the first five years only the principal which is a very low rate as interest is the biggest amount of money for the first 15 to 20 years of a loan. The buyer could not purchase above a million dollar home loan so the payment would have been perhaps 200-300 a month without interest so they would buy and sell the same house at a higher amount and then repeat the process. By the time of George Bush's term the notes started coming due and...
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Community Reinvestment Act

Posted 1 Mar 2010 at 14:36 PM by spanner
Updated 1 Mar 2010 at 15:05 PM by spanner (Removal of picture formatting of USGOV posting)



See easy read following the original




ORIGINAL
Community Reinvestment Act

* The Community Reinvestment Act (CRA), enacted by Congress in 1977 (12 U.S.C. 2901) and implemented by Regulations 12 CFR parts 25, 228, 345, and 563e, is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate. In this section of the web site, you can find out more about the
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