Quote:
Originally Posted by Mavdog
what? kurtz's is an "investigative piece"?
no, it's not. it's his attempt to slam acorn, and it is not factual.
here is what acorn themselves say on their site:"ACORN Housing and CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae announced today the launching of a new non-profit mortgage brokerage called Acorn Housing Affordable Loans, LLC, to help qualified borrowers enjoy the benefits of homeownership throughout Florida. Additional offices will be launched in other states in the coming months. The new mortgage brokerage will also help homeowners faced with resetting adjustable rates that may make their current home mortgage payments unaffordable
http://www.acornhousing.org/index.php
uh, "qualified".
acorn works on affordable housing. that's a euphemism for "cheap"....
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Two things:
1. What do you expect ACORN to say? That they blackmailed lenders? You should know better than to cite ACORN as a source...about ACORN!
2. You do realize that by lowering or relaxing lending standards, borrowers who were previously "unqualified" can suddenly become "qualified", don't you?