Peter Schiff comments on his vlog: dollars and bonds continue to slide, marxism comes to U.S. and O down FHA loans. FHA loans may be back by the end of 2009. People who have not owned a home for at least 3 years can be eligible to receive an $8,000 tax credit which can be applied for the down payment of a home. Critics have complained that the new program transforms a tax credit meant to reward sidelined buyers for taking the plunge into a subsidy that could goose sales to those who cannot buy a home. Peter Schiff’s said “Didn’t we just have this big housing bust where people bought houses they can’t afford?.” “We don’t want people buying houses without using their own money.”
Read entire article on FHA loan issue here
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