Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit

Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit

Brett LoGiurato

April 3, 2013

The Obama administration is readying a push to get banks to make more home loans available to individuals with weaker credit, The Washington Post’s Zach Goldfarb reports.

obamadash

obamadash (Photo credit: GunnyG1345)

 

It’s a push that walks a tightrope, since it is expected to help boost the continuing economic recovery immediately but risks opening up the shaky lending that led to the housing crash.

Obama’s plan would provide for more lending to individuals such as young people buying their first homes, as well as people whose credit has been damaged by the recession.

More details from Goldfarb:

gophum

gophum (Photo credit: GunnyG1345)

[A]dministration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

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rprprprp (Photo credit: GunnyG1345)

Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

 

 

 

 

(snip)

(Excerpt) Read more at businessinsider.com …

via Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit.

IS THIS MAN, PRESIDENT OF THE UNITED STATES OF...

IS THIS MAN, PRESIDENT OF THE UNITED STATES OF AMERICA, THE LEADER OF THE FREE WORLD, MENTALLY ILL? (Photo credit: SS&SS)

 

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About Gunny G

GnySgt USMC (Ret.) 1952--'72 PC: History, Poly-Tiks, Military, Stories, Controversial, Unusual, Humorous, etc.... "Simplify...y'know!"
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88 Responses to Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit

  1. genomega1 says:

    Reblogged this on News You May Have Missed and commented:
    Obama Is Pushing Banks To Make More Home Loans To Borrowers With Poor Credit

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