patrick.net

Perfect example of the mentality of these people:

"The Department of Agriculture-Rural Development has offered a no-down-payment loan option for more than 50 years. About 127,000 borrowers nationwide bought homes with the help of the USDA in fiscal 2009, according to federal officials. To qualify, borrowers must earn no more than 115 percent of the median income and live in remote areas.

The default rate has also been relatively low — about 12.2 percent in fiscal 2009, said Tammye Trevino, administrator of the Rural Housing Service, which is part of the Department of Agriculture."

So a default rate in double digits, one in eight, is "relatively low"?!