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05 Dec 08 Questioning the Mortgage Crisis

The Associated Press put out a story yesterday reporting that the Bush Administration ignored in-house warnings of an impending mortgage collapse in 2005, delayed enacting proposed rules for a year, and bowed to lobbyists in stripping out the harshest of the proposals. Today, we find ourselves in foreclosure crisis and in the middle of the worst housing recession in a generation, the proposal reads like a list of what-ifs: FHA house loans, VA mortgages and conventional have to change with the times to meet the needs of today’s homeowners.

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