Quote from Stok:
How I found out about this, is we have a Mortgage Bank...our head guy came over to my office all fired up a couple of weeks ago. He has been involved in the mortgage industry for 7 years and never heard about this:
This nanny state lady called one of our brokers to get a loan that HUD will pay for....free and clear. Yes, there are certain requirements, but this person's only income was UNEMPLOYMENT and SS benefits (from a deceased relative..I think). Anyways, she was a section 8 renter...she qualified...we did the mortgage...the gubernment paid our fees and will pay the mortgage FOREVER...AND she gets to KEEP the house free and clear. You can search it online and find the program
I got all riled up as well when I heard this crap, and I am not involved in the industry.
Now, before all the libby's get all pissed...I am all about social programs to help the needy...section 8 is fine, unemployment, safety nets....but with restrictions and time limits, etc.
But when they get used and abused by both sides (the politicians and the people) for votes it gets very nasty and BK the whole damn Country.
Ok, enuff of my rant....all above is true and it should piss off everyone working for a living, scratching out money for family, food, gas and retirement.