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Obama Mortgage Plan May Fuel Wave of Foreclosures
Money News ^ | 07/21/10

Posted on 07/21/2010 9:28:51 AM PDT by TigerLikesRooster

Obama Mortgage Plan May Fuel Wave of Foreclosures

Wednesday, 21 Jul 2010 07:24 AM

The Obama administration's effort to help those at risk of losing their homes is failing to aid many and could spur a rise in foreclosures that would further depress the housing industry.

More foreclosures would force down home prices and that would deter already-ailing homebuilders from starting new projects.

As a result, the economic rebound could suffer. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes paid to local and federal authorities, according to the National Association of Home Builders.

"Foreclosures hold down the pricing for everybody," said Marty Mitchell, vice chief executive officer of Mitchell & Best Home Builders in Rockville, Md. "As a builder, we have to be cognizant of foreclosures, if there are more coming along, because it affects pricing across the board."

(Excerpt) Read more at moneynews.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: foreclosure; mortgage; obama
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1 posted on 07/21/2010 9:28:57 AM PDT by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 07/21/2010 9:29:46 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

I think it is his plan to shut this nation down....


3 posted on 07/21/2010 9:31:00 AM PDT by gulfcoast6 (GOD IS!)
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To: TigerLikesRooster

Cloward - Piven, Obama must be so proud.


4 posted on 07/21/2010 9:31:32 AM PDT by Freddd (CNN is down to Three Hundred Thousand viewers. But they worked for it.)
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To: TigerLikesRooster; Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; ...

The list, ping


5 posted on 07/21/2010 9:33:37 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: TigerLikesRooster

Obama Mortgage Plan May Fuel Wave of Foreclosures

That’s Our Obammy!


6 posted on 07/21/2010 9:34:18 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: TigerLikesRooster

Affirmative Action Economics.


7 posted on 07/21/2010 9:36:56 AM PDT by EyeGuy
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To: gulfcoast6

You must be eating oil contaminated fish.


8 posted on 07/21/2010 9:39:17 AM PDT by verity (Obama, the BS and rhetoric President)
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To: gulfcoast6

You must be eating oil contaminated fish.


9 posted on 07/21/2010 9:39:23 AM PDT by verity (Obama, the BS and rhetoric President)
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To: verity

Naw,, know better than that. The shrimp we are getting in down here are from Mexico, the fish from somewhere up north.


10 posted on 07/21/2010 9:44:35 AM PDT by gulfcoast6 (GOD IS!)
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To: TigerLikesRooster

A fried chicken in every pot and unemployed person in every home...


11 posted on 07/21/2010 9:44:48 AM PDT by TSgt (We will always be prepared, so we may always be free. - Ronald Reagan)
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To: gulfcoast6
Yes it is blatently obvious. And call me crazy I don't care but his plan is to shut down America to force global government on us as the hoax global warming did not work.
12 posted on 07/21/2010 9:48:06 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: TigerLikesRooster
failing to aid

Success!!

13 posted on 07/21/2010 9:48:32 AM PDT by ClearCase_guy
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To: TigerLikesRooster
The Obama administration's effort to help those at risk of losing their homes is failing to aid many and could spur a rise in foreclosures that would further depress the housing industry.

But then he'll manage to blame Republicans for it somehow.
14 posted on 07/21/2010 9:49:09 AM PDT by rightwingintelligentsia (Forcing one person to pay for the irresponsibility of another is NOT social justice.)
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To: gulfcoast6

You’re right. It is not about him being dictator as so many think. It is about removing America from the world stage and transferring power back to the Old World.


15 posted on 07/21/2010 9:52:39 AM PDT by Free Vulcan (No prisoners, no mercy. 2010 is here...)
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To: gulfcoast6

Why are we laying this all on Obama? I can’t stand the creep but he cannot harm this country without the cooperation of his fellow democrats (and a few lib pubbies), and they have been cooperating. Virtually all the democrats are conspiring with Obama to destroy this country.


16 posted on 07/21/2010 9:57:59 AM PDT by HerrBlucher (In the White House the mighty White House the Liar sleeps tonight.............)
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To: Free Vulcan

It’s about transferring power to the Third World - that is, the Middle East and Africa. The Old World is Europe, and Barry doesn’t like the Old World any better than he likes the New World.


17 posted on 07/21/2010 9:58:42 AM PDT by livius
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To: TSgt

But if Whoopi or Wanda Sykes cracked a joke in reverse about whites or ill will or death towards some white person it's just fine!

18 posted on 07/21/2010 10:01:48 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: HerrBlucher
Virtually all the democrats are conspiring with Obama to destroy this country

That's the really interesting story for historians someday, isn't it?
19 posted on 07/21/2010 10:04:11 AM PDT by silverleaf (Those who can make you believe absurdities can make you commit atrocities.)
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To: TigerLikesRooster
Here is what I got from the Austin un American Ultra Liberal Non Statesman yesterday.

Homes sales decline in June; listings hit record level

20 posted on 07/21/2010 10:04:31 AM PDT by Arrowhead1952 (Remember in November. Clean the house on Nov. 2. / Progressive is a PC word for liberal democrat.)
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Comment #21 Removed by Moderator

To: TigerLikesRooster
I own my house. Foreclose that.
22 posted on 07/21/2010 10:07:49 AM PDT by TomServo
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To: gulfcoast6
"I think it is his plan to shut this nation down...."

Agreed. And you can bet there won't be a Presidential election in 2012. Obama will declare a national emergency, impose Martial Law and will reset our nation as a Marxist Dictatorship. And NO I'm not kidding. If anyone hasn't noticed, every bill passed since his Inauguration has transferred power FROM the Congress TO him and his Czars. Glenn Beck pointed out how Julius Caesar did the same damn thing.

23 posted on 07/21/2010 10:08:27 AM PDT by historyrepeatz
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To: historyrepeatz

Agreed but the thing is, it is so surreal it is unbelievable
so... no one will believe it until it happens and it is too late.


24 posted on 07/21/2010 10:12:14 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: TigerLikesRooster

Thanks for the ping.


25 posted on 07/21/2010 10:13:59 AM PDT by GOPJ (..Liberalism is Intolerance..- - Freeper Eric in the Ozarks)
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To: TigerLikesRooster
Wonder what ever happened to THIS woman, and her buddies?

"HE GONNA PAY MUH MO-GAGE!"

26 posted on 07/21/2010 10:14:21 AM PDT by yorkie
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To: yorkie

“Wonder what ever happened to THIS woman, and her buddies?”

####

Preparing to vote for BlackBama again in 2012.

Maybe 2 or 3 times....


27 posted on 07/21/2010 10:17:03 AM PDT by EyeGuy
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To: gulfcoast6
I think it is his plan to shut this nation down....

Of course it is.
28 posted on 07/21/2010 10:17:24 AM PDT by crosshairs
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To: TigerLikesRooster

May = Will.


29 posted on 07/21/2010 10:18:07 AM PDT by cranked
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To: TigerLikesRooster

Well, then, open up the Treasury. Let’s get these people bailed out.


30 posted on 07/21/2010 11:20:23 AM PDT by Wolfie
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To: historyrepeatz
...there won't be a Presidential election in 2012. Obama will declare a national emergency, impose Martial Law and will reset our nation as a Marxist Dictatorship.

Two problems with that....

1. He's got no army to enforce such martial law (US Armed Forces will NOT support him on this).

2. He forgot to disarm the 90 million gun-owning American citizens first (see #1 for why he hasn't done this).

31 posted on 07/21/2010 11:20:56 AM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: historyrepeatz

I believe this as well, he will shut down electons, declare a war somewhere or make a national disaster. He is determined to be dictatior.


32 posted on 07/21/2010 11:26:25 AM PDT by gulfcoast6 (GOD IS!)
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To: TigerLikesRooster; Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; ...

The list, ping


33 posted on 07/21/2010 12:16:08 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Windflier

They may turn the races on each other, and create ethnic cleansing/ghetto-isation on a massive scale.

The Commies are expert at this. They know the buttons to press to rouse the rabble.

Civil War Mk2.


34 posted on 07/21/2010 12:18:36 PM PDT by plenipotentiary (Obama was a BRITISH SUBJECT at birth, passed to him via Pops, can't be NBC)
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To: TigerLikesRooster
All your real property are belong to us, cracker.
35 posted on 07/21/2010 12:22:26 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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To: plenipotentiary
The Commies are expert at this. They know the buttons to press to rouse the rabble.

Oh, the Washington cabal are Commies, alright, but I don't believe for a moment that they're "expert" at anything. Now, Hitler, Stalin, and Mao were experts.

These buffoons are trying to erect a dictatorship without first disarming the public, or gaining the complete and utter obedience and allegiance of the military.

How expert is that? They might be able to push buttons, but they seem to have no idea how to run the Dictatorship Machine, or what the buttons do. They're going to blow the Machine up, with them in it.

36 posted on 07/21/2010 12:34:25 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: TSgt
Wasted Away in Obamaville.


37 posted on 07/21/2010 12:38:02 PM PDT by WOBBLY BOB (drain the swamp! ( then napalm it and pave it over ))
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To: Wolfie
Well, then, open up the Treasury. Let’s get these people bailed out.

It would be interesting to know if it would have been cheaper to write off all mortgages and repay the banks, than it is costing us to repo the homes.

38 posted on 07/21/2010 12:48:05 PM PDT by itsahoot (Republican leadership got us here, only God can get us out.)
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To: WOBBLY BOB

Most freepers have never seen anything like this, but I have, our first home was less than 20 x 20 4 rooms no bath. Raised 3 kids through high school, Dad and Mom both worked. That old house was torn down less than 5 years ago.


39 posted on 07/21/2010 12:55:15 PM PDT by itsahoot (Republican leadership got us here, only God can get us out.)
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To: itsahoot
Most freepers have never seen anything like this, but I have, our first home was less than 20 x 20 4 rooms no bath. Raised 3 kids through high school, Dad and Mom both worked. That old house was torn down less than 5 years ago.

Maybe a few more than you think. I still put one sock on and then a shoe on that foot and repeat the sequence for the other foot, because I learned to dress myself in a house with dirt floors.

40 posted on 07/21/2010 1:16:55 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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Comment #41 Removed by Moderator

To: Windflier

Remember the “National security force” comprised of civilians which Obama talked about in a speech?.. To do the national security that our Military can’t do?... http://www.youtube.com/watch?v=_fO-usAlqak


42 posted on 07/21/2010 1:25:16 PM PDT by historyrepeatz
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To: TomServo

You rent your house ,, the gov’t owns YOU ,, don’t believe me? don’t pay the property taxes..


43 posted on 07/21/2010 1:26:02 PM PDT by Neidermeyer
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To: Dubya-M-DeesWent2SyriaStupid!

Just damn.. My favorite animated gif!


44 posted on 07/21/2010 1:28:21 PM PDT by historyrepeatz
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To: TigerLikesRooster
Rather than taking our tax money and trying to keep the housing market going a few more months, the government should have:

1. Prevented Fannie Mae and Freddie Mac from making or backing any more home loans.

2. Eliminated the deduction for home equity loans.

3. Begun phasing out the deduction for mortgage interest.

4. Required banks to foreclose on properties in exchange for taking advantage of all the benefits they got from TARP, etc.

The housing market would have totally crashed a couple of years ago, and would be on a healthy rebound by now.

Instead we put a slow-drip IV in a dying patient that kept it kinda-sorta alive for a while so that a few flippers could make a few more bucks off a few more saps.

45 posted on 07/21/2010 1:32:09 PM PDT by who_would_fardels_bear (These fragments I have shored against my ruins)
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To: historyrepeatz

“there won’t be a Presidential election in 2012. Obama will declare a national emergency, impose Martial Law and will reset our nation as a Marxist Dictatorship.”

Okay, our constitution is stronger than Honduras’, eh? So how do we legally fight this guy and his handlers.

Soros, the Constitution is bigger than you are, because 200 million people stand behind it.


46 posted on 07/21/2010 1:40:31 PM PDT by huldah1776
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To: kbennkc
because I learned to dress myself in a house with dirt floors.

Those were the days my friend, we were dirt poor and happy. Hunting and fishing were not only fun but necessary. I can remember taking our 22's and 410's to school, so we could go hunting on the way home, strangely no one was afraid, we just stuck them in the cloak room.

I didn't know a single boy that didn't have some kind of pocket knife, Barlow being a popular cheap knife.

Sadly those days are but a fond memory and never to be again.

47 posted on 07/21/2010 1:45:55 PM PDT by itsahoot (Republican leadership got us here, only God can get us out.)
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To: itsahoot
Strangely , the blessings of some success have allowed me to indulge myself in trying to relive those simple times with a toy or two. Barlow and Winchester.


48 posted on 07/21/2010 1:57:16 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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To: historyrepeatz
Remember the “National security force” comprised of civilians which Obama talked about in a speech?

Yeah, I do.

Think he'll have tens of millions of them trained, armed, and ready to be deployed by November, so that he can cancel the Constitution, the elections, and institute martial law?

That's what it will take.

49 posted on 07/21/2010 3:24:56 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: TigerLikesRooster

Obama is proping up the banks on primary homes.

We SHOULD allow bankruptcy courts to fight out the decrease in value. WE ALREADY allow this on investment property.

The house prices were inflated on a fraud. the banks have already been paid off. Banks have a “alleged proprietary” valuation system that tells them the REAL market value of default property.

We have to get past this the same way reagan rebooted the ecconomy in 1980.


50 posted on 07/21/2010 3:35:46 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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