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The Real Reason the FHA Doesn't Need a Bailout

I have a liberal senator who "represents" me (represent = doing the exact OPPOSITE of what I think is best), and each time I read one of his love letters to the unwashed, he pats himself on the back for helping to make this or that "more affordable" I always wonder if he understands that he actually made it less so.

Bad News for Housing

[Another action that would help would be to have Fannie and Freddie make all thier existing loans assumable to qualified borrowers thereby reducing the bailout by billions that taxpayers will pay. ]

So... do you want to be the first person to assume a loan on an underwater property?