Posted on 09/07/2010 9:41:12 AM PDT by NormsRevenge
WASHINGTON – The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.
The Federal Housing Administration will allow lenders to give these borrowers refinanced loans if the lender agrees to forgive at least 10 percent of the original mortgage amount.
The plan, .. announced in March, .. available starting Tuesday.
The FHA said .. between 500,000 and 1.5 million homeowners are projected to be helped.
(Excerpt) Read more at news.yahoo.com ...
Omama and his Democrat Party are in panic mode and their answer is to throw money (our taxes, our growing national debt) at what panics them. He has a pile of big government spending schemes to offer this week and next to try to distract us from what caused our recession and what is holding back a recovery. Omama thinks we are suckers and will buy his promises again and again so we don’t vote out his enablers this November.
If Omama really wanted to help us recover and help small business, he would say, Sorry, and repeal ObamaCare, TARP spending and all the extra regulations on finance that are causing uncertainty and reluctance for business to recover and grow. He won’t so we need to vote him and his kind out 11/10 & 11/12.
Gee- another “plan”. We’re doomed!
After about three trillion in spending, the government hasn’t been able to stop the mortgage crisis problems.
Fannie and Freddy are still nearly broke. Foreclosures are swamping the lending industry. Banks are being closed at a rapid pace.
Now this administration’s fix is to tell banks and lending institutions to forgive part of the loans. And when they do, this administration will claim they don’t have enough assets on paper to cover their debt to income ratio. They’ll have to be closed.
I will give credit where it is due. The Left manipulated forced mortgages on lending institutions into the complete destruction of our economy. Not a shot was fired. The U. S. has essentially been neutered.
As long as there are property taxes, you can never own your own home, it was planned that way long, long ago.
Then of course there is always Kelo lurking there to seize your property for some worthless business.
impeaching this clown is a waste of cash, resources and energy....here is the plan of action for those who do not have any agenda other than to take back our country...all other singe issue people or those who do not vote do not have a voice or say...
1) get rid of every registed communist in the legislative branch. To date there are over 150 of them in the house and senate. Name names, be very vocal about it, and just get rid of them. It does not matter if they are democrat or republican. They are enemies of the state. Dump them.
2) If there are commies on both democrat and republican tickets, vote third party. Commies are enemies of the republic, regardless of political party. Dump them.
3) Flood your congressperson with correspondence demanding the impeachment of any and all activist judges. There are at least 2 on the supreme court that have violated their oath of office. Bring up the charges and get the hell rid of them. If your congressperson refuses, then they are an enemy of the state, regardless of political affiliation. Remove them from office by any and all means necessary.
All this will render FUBO utterly useless, and he will pass into history just like carter....
The power of the land lies in the judiciary branch, but the legislative branch has the power to clean it up...if they refuse, then it is THEY that are the true enemies of the state.....
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