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 ...
P!
I think it is his plan to shut this nation down....
Cloward - Piven, Obama must be so proud.
The list, ping
Obama Mortgage Plan May Fuel Wave of Foreclosures
—
That’s Our Obammy!
Affirmative Action Economics.
You must be eating oil contaminated fish.
You must be eating oil contaminated fish.
Naw,, know better than that. The shrimp we are getting in down here are from Mexico, the fish from somewhere up north.
A fried chicken in every pot and unemployed person in every home...
Success!!
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.
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.
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.

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!
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.
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.
Thanks for the ping.

“Wonder what ever happened to THIS woman, and her buddies?”
####
Preparing to vote for BlackBama again in 2012.
Maybe 2 or 3 times....
May = Will.
Well, then, open up the Treasury. Let’s get these people bailed out.
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).
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.
The list, ping
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.
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.
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.
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.
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
You rent your house ,, the gov’t owns YOU ,, don’t believe me? don’t pay the property taxes..
Just damn.. My favorite animated gif!
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.
“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.
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.

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.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.