"Kurt Ullman" wrote in message
...
Not hardly. The Dream Downpayment Act gave GRANTS to help with the
downpayment and closing costs. Did not have to repaid. It was also only
funded for 40,000 families. That was a drop in the bucket.

I think this one went right over your head. It's not the money involved in
the Grant, it's what the Grant did.

You certainly do not think these people got their home loans free, do you?
This basically took people who couldn't pay rent, and put them in a payment
they couldn't pay.

You may want to read Bush's speech, and see what he was fluffing his
feathers over since 2001. Especially the part of $2.5 TRILLION, and 1
MILLION homeowners.

"The reason that is so is because there is renewed confidence in our
economy. Low interest rates help. They have made owning a home more
affordable, for those who refinance and for those who buy a home for the
first time. Rising home values have added more than $2.5 trillion to the
assets of the American family since the start of 2001."

"Last year I set a goal to add 5.5 million new minority homeowners in
America by the end of the decade. That is an attainable goal; that is an
essential goal. And we're making progress toward that goal. In the past 18
months, more than 1 million minority families have become homeowners.
(Applause.) And there's more that we can do to achieve the goal. The law I
sign today will help us build on this progress in a very practical way."