Drudge Retort: Red Meat for Yellow Dogs
Wednesday, July 01, 2009

Homeowners refinancing their mortgages through loans backed by government agencies will be able to borrow up to 125 percent of their homes' value under new regulations enacted Wednesday.

The rule changes, part of the government's attempts to restore housing affordability and stem the foreclosure crisis, apply to loans backed up by Fannie Mae and Freddie Mac.

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What a great idea! Gobama! Go Bawney Fwank!

How come nobody thought of this idea before?!?!?!?!?

"Hope and Change!" We hope the housing prices go back up, fast, otherwise taxpayers will be owning the house, instead of insolvent banks with powerful Congressional delegations.

Change we can believe in! All right!

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