Thread: Home Ownership Is NOT a Right!

By John W. Lillpop

With mortgage giants Freddie Mac and Fannie Mae lying in ruins and private establishments like Lehman Brothers and AIG reduced to welfare queens,an irrefutable truth must be accepted:

Not everyone can afford the American Dream.

In much the same way as that sleek new $200,000 Lamorghini is not within my financial means, so it is that some Americans do not make enough money, or have enough cash saved, to purchase a home.

Others have poor credit, too much debt, insufficient income, or lack satisfactory employment history and stability.

To those who believe that they are entitled to a home, an idiotic notion fostered by socialists like Nancy Pelosi and most Democrats, another harsh truth is coming:

Nowhere in the Declaration of Independence, the U.S. Constitution, or the Bill of Rights, are We the People obligated to provide anyone with a 3 bedroom, 2 bath home and attached garage.

Home ownership is not a Constitutional right!

Unfortunately, federal bureaucracies, under pressure from the Democrat Party and liberal Republicans, have taken a greater interest in promoting minority home ownership statistics than in assuring that mortgages written for qualified borrowers are sound and secure.

Once again, "progressive" race pandering has proven disastrous, not only for the general population, but for the minorities it was supposed to serve as well.

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Driven by the marxist drivel, "Our diversity is our greatest strength," underwriting standards have been deliberately loosened to make home ownership available to minorities and others who would not have qualified in the past.

Strict guidelines and standards were developed in the past to protect both investors and buyers from the risk of default. In many ways, that mandate has been replaced by the need to assure that diversity is served.

As a consequence, the following risk conditions have been become almost common place:

Buyers are approved for loans with little or no down payment. Previously, a down payment of at least twenty- percent of the purchase price was necessary.

Traditional debt-to-income ratios for housing expenses and total expense have been abandoned in favor of much higher, far more risky ratios.

Underwriters used to review each loan application in great detail to assure credit worthiness, capacity to repay, and collateral (confirmed value) of the property. Whatever happened to the three Cs of residential mortgage underwriting?

In some instances, mortgage loans have been knowingly approved for illegal aliens.

"Option Arm" and "Interest only" loans are sold without advising the loan applicants of the inherent dangers involved.

Just about anyone can get a "stated income" loan provided one`s FICO score is high enough.

By lowering the bar enough, Uncle Sam has indeed brought diversity to home ownership. However, at what cost?

By flooding the market with unqualified buyers, government bureaucracies have artificially stimulated housing demand, which caused home prices to explode, leading to the unsustainable housing price bubble that has finally burst.

Republicans are not blameless in the great housing meltdown.

Indeed, who would have expected a conservative president to seize quasi-private enterprises and make them government property, and to bail out other private companies with loans involving billions of dollars of taxpayer money pinched from the U.S. treasury?

Whatever happened to welfare reform, tough love, trusting the free market, and other conservative rallying cries?

A critical question that must be answered by wrong-minded progressives is this:

How have minority homeowners, especially those now going through foreclosure, benefited from America`s insane obsession with diversity?

A question all American may have to face sooner rather than later is: Who will bail out the FDIC?

Alternatively, to put it more simply, how is your Chinese?

I AGREE THAT HOME OWNERSHIP IS NOT A CONSTITUTIONAL RIGHT.

BUT I ALSO BELIEVE THAT THE WAGE STRUCTURE SHOULD CHANGE IN OUR COUNTRY SO THAT EVERYONE DOES HAVE AN OPPORTUNITY TO BUY A HOUSE.

WAGES ARE SO DEPRESSED IN OUR COUNTRY AND THIS IS ONE OF THE MAJOR REASONS THAT SO MANY CANT AFFORD TO EVEN BUY A HOUSE. OWNING A HOME HAS BECOME A LUXURY IN USA....ENJOYED ONLY BY THE RICH. THE AVERAGE PERSON CAN NO LONGER AFFORD IT.

YEARS AGO THIS WAS NOT TRUE. IN THE PAST NEARLY EVERYONE COULD AFFORD SOME KIND OF HOUSE....EVEN IF IT WAS A MODEST HOUSE....A HOUSE NONETHELESS. THEY COULD PAY FOR IT OVER A LONG PERIOD OF TIME AND HOPE TO OWN IT SOMEDAY.

WE CANNOT GIVE UP AND WE CANNOT GIVE IN!!! THE HOUSE IS OUR LAST CHANCE TO STOP THIS TRAVESTY!


NO BAILOUT!!! ENOUGH IS ENOUGH!!!! NO MEANS NO!!

ROAR SOME MORE PATRIOTS!!!

TOGETHER WE CAN DO THIS!!!

U.S. SENATE AND HOUSE CONTACT INFORMATION:

http://www.alipac.us/ftopict-63874.html

TOLL FREE

Congressional Switchboard Numbers

800-833-6354
866-340-9281
877-762-8762
866-808-0065
866-220-0044

ZIP CODES

http://www.votesmart.org/index.htm


http://www.555us.com/555FL/555fl_zipcodes.htm


http://www.votenobailout.org/
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Originally Posted by redpony353

I AGREE THAT HOME OWNERSHIP IS NOT A CONSTITUTIONAL RIGHT.

BUT I ALSO BELIEVE THAT THE WAGE STRUCTURE SHOULD CHANGE IN OUR COUNTRY SO THAT EVERYONE DOES HAVE AN OPPORTUNITY TO BUY A HOUSE.

WAGES ARE SO DEPRESSED IN OUR COUNTRY AND THIS IS ONE OF THE MAJOR REASONS THAT SO MANY CANT AFFORD TO EVEN BUY A HOUSE. OWNING A HOME HAS BECOME A LUXURY IN USA....ENJOYED ONLY BY THE RICH. THE AVERAGE PERSON CAN NO LONGER AFFORD IT.

YEARS AGO THIS WAS NOT TRUE. IN THE PAST NEARLY EVERYONE COULD AFFORD SOME KIND OF HOUSE....EVEN IF IT WAS A MODEST HOUSE....A HOUSE NONETHELESS. THEY COULD PAY FOR IT OVER A LONG PERIOD OF TIME AND HOPE TO OWN IT SOMEDAY.

well not just the rich, don't forget the illegals who aren't even citizens can get loans to buy homes with no ID or any credit history or money down. So it's not like the money isn't there, it's just not there for US citizens.

Originally Posted by gemini282

Originally Posted by redpony353

I AGREE THAT HOME OWNERSHIP IS NOT A CONSTITUTIONAL RIGHT.

BUT I ALSO BELIEVE THAT THE WAGE STRUCTURE SHOULD CHANGE IN OUR COUNTRY SO THAT EVERYONE DOES HAVE AN OPPORTUNITY TO BUY A HOUSE.

WAGES ARE SO DEPRESSED IN OUR COUNTRY AND THIS IS ONE OF THE MAJOR REASONS THAT SO MANY CANT AFFORD TO EVEN BUY A HOUSE. OWNING A HOME HAS BECOME A LUXURY IN USA....ENJOYED ONLY BY THE RICH. THE AVERAGE PERSON CAN NO LONGER AFFORD IT.

YEARS AGO THIS WAS NOT TRUE. IN THE PAST NEARLY EVERYONE COULD AFFORD SOME KIND OF HOUSE....EVEN IF IT WAS A MODEST HOUSE....A HOUSE NONETHELESS. THEY COULD PAY FOR IT OVER A LONG PERIOD OF TIME AND HOPE TO OWN IT SOMEDAY.

well not just the rich, don't forget the illegals who aren't even citizens can get loans to buy homes with no ID or any credit history or money down. So it's not like the money isn't there, it's just not there for US citizens.

ILLEGALS CAN GET A HOUSE, BUT CANT AFFORD TO STAY IN IT. ILLEGALS SHOULD NOT EVEN BE ALLOWED TO BE IN THE COUNTRY....LET ALONE PRETEND TO BUY PROPERTY. GIVING MORTGAGES TO ILLEGALS IS ONE OF THE MAIN REASONS FOR OUR NEAR FINANCIAL COLLAPSE.

I AM TALKING ABOUT AMERICANS BEING ABLE TO ACTUALLY AFFORD TO PAY OFF A HOUSE. THERE IS NO REASON WHY MOST AMERICANS SHOULD NOT BE ABLE TO DO THIS EXCEPT THAT THIS COUNTRY IS BEING PLUNDERED BY THEIVES. WAGES HAVE BEEN DEPRESSED TO THE POINT THAT THIS IS NOT POSSIBLE FOR MANY MANY AMERICANS. AND EVEN THOSE WHO CAN, SPEND MANY TIMES THE COST OF THE HOUSE IN INTEREST. THIS IS CRIMINAL.

Exactly redpony. You have hit the nail on the head, and touched on the very heart of the matter.

We can talk about bailouts, predatory loans, we can blame the people for getting in over their heads.....But the basic fact is that these problems did not exist 40-50 years ago. People comfortably paid for homes for their families, on one income at that. Now it is becoming extremely difficult for people to own (especially here in CA), and scores are strapped with debt.

This is what the global economy, corporatism, and the war on the middle class has given us.

Remember that the people that caused this are Multi-TransNational CEO's, they owe no alligence to any country, any people, anywhere. They are so far removed from the everyday struggle that the middle class has to endure, that they use the term Human resourses to discribe us to further de-personalize us and yes to them we are expendable. Only because they can bring in a whole new class to exploit, the Illegal alien. Right now this very moment ,their sitting on their 100 million dollar yachts on the french riviera laughing on how the american taxpayer will foot the bill for their lifestyle as usual.

We have shipped jobs overseas, imported HB workers to take good jobs, and have allowed illegals to come in and take many jobs.

The illegals are not just plucking chickens and milking cows. They ARE the construction business in many parts of the country. They are working in white collar jobs, banks, insurance offices, etc.

We need to get some sanity in this country and I don't know what it is going to take.

The latest vote should tell us what our lawmakers think of us - we have to get control of this government.

We can't do it by continuing to believe in some mythical party.

It is truly the Democrat's fault - it is also truly the Republican's fault.

The have played us like a fiddle for far too long.

We Need,
1) 3RD Party
2) Outlaw Earmarks to Legislation
3) Term Limits on Congress and Senate

If we had these three things we would not have the corruption we have in Politics today!!!

WE CANNOT GIVE UP AND WE CANNOT GIVE IN!!! THE HOUSE IS OUR LAST CHANCE TO STOP THIS TRAVESTY!


NO BAILOUT!!! ENOUGH IS ENOUGH!!!! NO MEANS NO!!

ROAR SOME MORE PATRIOTS!!!

TOGETHER WE CAN DO THIS!!!

U.S. SENATE AND HOUSE CONTACT INFORMATION:

http://www.alipac.us/ftopict-63874.html

TOLL FREE

Congressional Switchboard Numbers

800-833-6354
866-340-9281
877-762-8762
866-808-0065
866-220-0044

ZIP CODES

http://www.votesmart.org/index.htm


http://www.555us.com/555FL/555fl_zipcodes.htm


http://www.votenobailout.org/

[color=red]Go here for list of vulnerable house members and numbers to call. [/color]

http://www.alipac.us/ftopict-134077.html
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