But don’t worry. If these mortgages default it’s on the taxpayers. (Like it always is these days.) What? You have a problem with that? It’s only your money.
Fannie Mae, the Washington DC mortgage giant, has announced their latest program: HomeReady. According to Fannie Mae,
“HomeReady is designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. HomeReady lets you lend with confidence while expanding access to credit and supporting sustainable homeownership.”
The people making these calls in DC really just don’t know what they are doing.