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	Name:	GoneFishin -
	Subject:	WW WRONG AGAIN
	Date:	6/19/2010 1:12:35 PM

I personally feel a 20% downpayment should be a minimum.

Dodd DID NOT say that and I challenge you to prove it!!!!!!!!

It was written in the Arizona Conservative and described by the author John Semmens as Semi-News — A SATIRICAL Look at Recent News

Democrats Vote Down 5 Percent Rule

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, “passage of such a requirement would restrict home ownership to only those who can afford it.”

The Truth:
Senator Chris Dodd did not make that remark. The source for this eRumor is an article by satirist John Semmens who writes a weekly Semi-News feature for the Arizona Conservative. Semmens wrote about a proposed amendment that failed in the Wall Street Reform Bill, which Senator Bob Corker (R-Tenn) proposed to raise the minimum down payment to 5% for federally assisted home loans.

According to a May 12, 2010 article in the Investors Business Daily site Democrats voted against the amendment :that would have also required income verification and an assessment of borrowers’ ability to repay." The article also said, "Democrats argued that a 5% down payment would hurt minorities and the poor." The measure failed 42-57.

Other messages in this thread:

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5% Rule and Chris Dodd's comment why it was voted - water_watcher - 6/19/2010 8:25:27 AM

5% Rule and Chris Dodd's comment why it was voted - Talullahhound - 6/19/2010 8:51:41 AM

5% Rule and Chris Dodd's comment why it was voted - 4691 - 6/19/2010 10:49:31 AM

WW WRONG AGAIN - GoneFishin - 6/19/2010 1:12:35 PM

No, as usual, you are wrong - water_watcher - 6/20/2010 8:52:21 AM

No, as usual, you are wrong - GoneFishin - 6/20/2010 12:32:42 PM

Hey WW - GoneFishin - 6/20/2010 12:39:13 PM

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