This is nothing more than the government telling the mortgage holders to leave the home owners(?) alone....These home will be given to the occupants free...watch and learn. Those of us that pay our bills are about to get screwed.
Cloward Piven ...
We are already screwed, FRiend! Try NOT paying your mortgage for the next couple of months. Unlike the low-lifes who currently occupy a home they've not paid into for the last few months/years, those of us responsible homeowners are the only reason that the banks are staying open. If you're a white family, you'll likely be dragged to court quicker than existing foreclosures and be forced to pay earlier than any of those out there crying hardship.
Plus, if you're in a homeowner's association, I can personally guarantee that you have people living in their homes without paying their association dues, leaving your money and the money of those who do pay to maintain properties, etc.
I've not been on this planet very long, but I can see from the wide view that being disadvantaged is actually advantageous!
Those of us that pay our bills are about to get screwed.
It's called Leftism. Bludgeon the Responsible, cultivate the Irresponsible, Spin the ethics, for your own power.
Political leadership is a matter of values, not verbal gymnastics.
You already have. That's what I'm trying to explain.
I agree with you completely, and let me tell you how that could happen.
Step 1. The Administration declares a National moratorium on all foreclosures.
Step 2. Fannie Mae announces a new program to offer 2% mortgages to homeowners who are in default, in foreclosure, and/or “underwater” with their current mortgage. That program will refinance those mortgages for whatever amount Fannie/Freddie say is an “appropriate” amount for that property.
Since Premier Hussein has already lifted the cap on how much money Fannie and Freddie can “borrow” from the Government, the means is already in place.
The biggest problem is what to do about the titles for the property?? What is to prevent the Regime from ordering a new title for any Fannie/Freddie/FHA backed mortgage?? They print money as they need it, why not print brand new titles too??
This is all speculation of course, but given the track record of this Regime to date, this is a crisis right before an election that is going to be hard for the Regime to waste. And depending on what actually happens will drive whatever unknown and unknowable consequences will result.
No winners here.