- The past few weeks, I have been looking at foreclosures, short sales or homes that need to be fixed up. After the initial mortgage crisis, our wise government started with all kinds of new rules and policies.One, if there are late payments, you are not eligible for a mortgage until 12 months have passed. Credit scores do not matter. It does not matter if you have perfect credit history for the 30 previous years. Banks took taxpayer money because of poor loans they made. Now, the banks can sit on that money and not loan it back to the people they took it from. Banks, not the government, should be held responsible for their bad loans.

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