From the Wall Street Journal:
The Obama administration is close to committing as much as $35 billion to help beleaguered state and local housing agencies continue to provide mortgages to low- and moderate-income families, according to administration officials.
The move would further cement the government's role in propping up the housing market even as some lawmakers push to curb spending at a time of rising debt.
The effort, which could be announced as early as this week, is aimed at relieving pressure on government-operated housing finance agencies, which have been struggling to find funding amid the downturn. These agencies, or HFAs, are a small part of the housing market but are critical to many first-time and low-income home buyers, who can get lower-rate mortgages through an HFA than they could through a private-sector lender. Rates are typically 0.5 to one percentage point lower than commercial lenders.
Isn't this how we got in trouble in the first place?
skip to main |
skip to sidebar
The Crap-O-Sphere ("Crappy")
Artwork by Jerry Rotondi
The official mascot of Queens Crap
The Crap-O-Sphere ("Crappy")
"Let us dare to read, think, speak and write." - John Adams, 1765
Spotted a piece of Queens Crap in your community?
Write to us at QueensCrapper@gmail.com
Please note
Italicized passages and many of the photos come from other websites. The links to these websites are provided within the posts.
Why your neighborhood is full of Queens Crap
"The difference between dishonest and honest graft: for dishonest graft one worked solely for one's own interests, while for honest graft one pursued the interests of one's party, one's state, and one's personal interests all together." - George Washington Plunkitt
Willets Point United Against Eminent Domain Abuse
Artwork by Jerry Rotondi
Become a fan of Queens Crap on Facebook.
Sites that kick ass:
The above organizations are recognized by Queens Crap as being beneficial to the city as a whole, by fighting to preserve the history and character of our neighborhoods. They are not connected to this website and the opinions presented here do not necessarily represent the positions of these organizations.
The comments left by posters to this site do not necessarily represent the views of the blogger or webmaster.
Street or satellite shots used here are from Google Maps or Windows Live Local.
The comments left by posters to this site do not necessarily represent the views of the blogger or webmaster.
Street or satellite shots used here are from Google Maps or Windows Live Local.
Blog Archive
-
▼
2009
(3640)
-
▼
September
(329)
- Chinatown tells Bloomberg to go to hell
- Dry erase board message has MTA in a tizzy
- Is the WFP the 21st Century's Tammany Hall?
- Bowne House funds available again
- The joke's on the GOP, part 4
- Paterson picks a real winner
- Dutch Kills ecstatic over residential move-in
- Developer wants to brick up 10 windows
- Rockrose split finalized
- Eminent domain debate on WNYC
- Developer turns LIC home into hellhole
- More Bloombergian hypocrisy
- More proof that zoning is a joke
- Liu and DeBlasio win handily
- How not to publish a newspaper... Photoshop edition
- Bloomberg's SCA made dirty deal with developer
- Investigating Bloomberg's "Dark Knight"
- $35B for HFA mortgages
- 947 units on old brewery site
- It's White by 4 votes
- Someone's finally telling the truth about Bloomberg
- Are runoffs a waste of time and money?
- Letters to the Queens Tribune in response to Hallo...
- Illegal signs littering streets
- Johnny the poster boy
- More on Bloomberg's phony crime stats
- The Trib: serious journal or intolerant political ...
- 2nd Ave subway construction setback
- Mike saving jobs left and right
- Dr. not buying Bloomberg's anti-soda campaign
- Push to beautify Ridgewood MTA eyesore
- Police car hit by bullet
- Quinn counting on Queens
- 50 Cent finally has his Jamaica concert
- Bloomberg's latest ticket scam
- More dirty dealings in Council District 19 race
- In a nutshell, Queens is screwed
- Voters should demand R-E-S-P-E-C-T
- Ridgewood el station is worst in the city
- Queens history treated like trash
- Bloomberg's DOB picking on disabled elderly man
- Police seek Woodside gas station robbers
- The Queens vista
- Carolyn Maloney's husband dies
- Well, John?
- What happened to Toby's nose?
- Painting the top of the town
- Quaker Meeting House still needs more $$$
- Another welfare program for developers
- Purse pilfered after push
- Bicyclists and pedestrians should not mix
- Buttkiss refuses to kick the bucket
- Group says Willets Point raids were suspicious
- More Brooklyn hipsters kicked to the curb
- Our "great green mayor" takes helicopter to NJ con...
- Bloomberg: Mayor for life?
- Paul Vallone gives up
- Please sign the petition against MORE Queens traffic
- This house will soon be crap
- When is a school like a rush hour subway car?
- CUNY hid crime stats
- Republicans feel the time is ripe
- More wasteful street light spending
- Bloomberg running against his own record
- Civic tells LPC not to landmark Vanderbilt mansion
- Woman raped in Forest Park
- D'OH!!!!
- Bloomberg tells pollster to lie
- Newtown Creek recommended for Superfund status
- "Do what I say, not what I do"
- At least he's honest about it...
- Concern over siting of transfer stations
- Queens Tribune's hatchet job
- Claire's getting more and more confused
- Money for nothing
- A garden grows at Rikers
- He's just like one of us! (Part 6)
- Doubting the "Bloomberg Education Miracle"
- Hey Bloomberg: There are ditches in Queens, too
- Protest to shut down abusive boss
- The future of Carroll Gardens
- YouTube restores Suzannah B Troy's videos
- Vibrant and diverse Corona is a dump
- Construction costs take a dive
- What's next for Tony Avella?
- South Ozone Park tree killer on the loose
- The LEED conspiracy
- The truth about ACORN
- Maspeth residents request park at CB5 meeting
- More construction accidents than before
- Another Maspeth tree massacre
- Hiram video is extremely incriminating
- 1ST AMENDMENT TRASHED YET AGAIN
- FBI still seeking more terrorists
- Hiram blames his victim; supporters lobby judge
- Suzannah catches Yassky volunteer red-handed
- He's just like one of us! (Part 5)
- City can't assess property tax
- Ticket blitz gets even dumber
- From row house to rooming house
-
▼
September
(329)
Send submissions to:
queenscrapper@gmail.com
Include address of property and any other information you have about it.
All contributors will remain anonymous.
Include address of property and any other information you have about it.
All contributors will remain anonymous.
4 comments:
Let's put the blame where we should, squrely on the shoulders of the Wall Street thieves. You can't always blame the poor people.
You're right, Crapper. Let them default on their loans, increase the homeless rate, lower property values, increase taxes to make up for the decreased revenues, and ruin more neighborhoods. I miss the South Bronx of 1970s. Let's bring it to the rest of country in 2010.
Giving mortgages to people who can't pay them is suicide.
The state HFAs who are receiving the assistance from the govt never made subprime loans. Their delinquency rates are below national delinquency rates. Although their loans are made to people with lower and moderate incomes, all of the borrowers have to meet debt to income tests and have average fico scores of 700. The govt assistance is meant to help responsible first time borrowers get mortgages.
Post a Comment