Bachmann Defends Using Federal Loans She Denounced: "It's Almost Impossible To Buy A Home' Without Them | ThinkProgressQuicklink submitted by Amanda Lang Permalink
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|Bachmanns signed for a $417,000 home loan backed by Fannie Mae or Freddie Mac just weeks before she called for the two mortgage giants to be entirely dismantled. Bachmann, a consistently fierce critic of mortgage lending programs and has advocated abolishing Fannie Mae and Freddie Mac. Yet she took out the maximum possible loan from those programs to finance her family's move to a lavish 5,200-square-foot home on a golf course...BACHMANN: Now unlike all of you, who I'm sure pay cash for your homes, there are people out there like myself who actually have to go to a bank and get a mortgage. And this is the problem. It's almost impossible to buy a home in this country today without the federal government being involved. Whether...it's with Fannie, whether it's with Freddie, it's almost impossible to buy a home in this country today without the federal government being involved...'|
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