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Just a thought about the new proposed help Obama has set up for the banking and housing problem. I love it. Just think a few months ago if you worked at Walmarts on a marginal paycheck with just a marginal credit rating you could buy a new house with no money down and a thirty year mortgage. The idiots that gave you that mortgage knew there was little or no change of paying back the mortgage but that was not their primary interest. They wanted the mortgage signed and delivered in their hands. Then it could be sold out of their company giving them no responsiblility from that point.
Now it would seem these people would have been put out of business by now. OK, If you buy a new house in 2009 you will get a tax break of up to $8000 dollars. Now if you break even on your tax refunds then you get the full amount, If you get back a tax refund you get that plus the $8000. What do I like about the new plan? Really just how long do you think it will take for the crooks in the banks and mortgage companies to figure out a way to overload the system again using that little $8000 dollar tax break.