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Obama to announce actions on housing, student loans (Dictator bypasses Congress)
Reuters ^ | 10/24/11

Posted on 10/24/2011 5:47:12 AM PDT by Evil Slayer

(Reuters) - President Barack Obama this week will announce a series of actions to help the economy that will not require congressional approval, including an initiative to make it easier for homeowners to refinance their mortgages, according to a White House official.

The actions come as Obama is facing resistance from Republicans to a $447 billion jobs package he has urged Congress to pass.

The first of the initiatives will be unveiled during Obama's three-day trip to western states beginning Monday.

He will discuss the changes in mortgage rules at a stop in Nevada, which has one of the hardest-hit housing markets in the country.

The Obama administration has been working with the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, to find ways to make it easier for borrowers to switch to cheaper loans even if they have little to no equity in their homes.

The FHFA intends to loosen the terms of the two-year-old Home Affordable Refinance Program (HARP), which helps borrowers who have been making mortgage payments on time but who have not been able to refinance as their home values have dropped.

The Wall Street Journal reported that the changes should boost refinancing because they will let banks avoid the risk of any "buy-back" on a HARP mortgage as long as borrowers have made their last six mortgage payments and they prove that they have a job or another source of passive income.

They are also set to reduce loan fees that Fannie and Freddie charge and waive fees on borrowers that refinance into loans with shorter terms, the Journal said.

Pricing details won't be published until mid-November, and lenders could begin refinancing loans under the retooled program as soon as December 1, the newspaper reported, citing federal officials. Loans that exceed

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


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: americandictator; apocalypse; fhfa; harp; housing; impeachobama; impeachthebastard; imperialism; imperialpresidency; imperialpresident; marxistobama; studentloans; tinhorndictator

1 posted on 10/24/2011 5:47:17 AM PDT by Evil Slayer
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To: Evil Slayer

OBAMA TO SIDESTEP CONGRESS


2 posted on 10/24/2011 5:53:59 AM PDT by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: Evil Slayer
Chef Barry keeps messin’ with the recipe. He figures that if a pinch of salt is good then a whole cup of salt has to be so much better.
3 posted on 10/24/2011 5:56:04 AM PDT by JPG (America is worth saving. All hands on deck!)
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To: Evil Slayer

Obama to sidestep Congress and the Congress will sit there with a sh*t eating grin on their faces and let him do it.

I have lost all respect for a Congress who let’s this tin pot dictator do whatever he wants and they do nothing about it. Where are the Republicans. Hiding in the closet’s?


4 posted on 10/24/2011 5:56:50 AM PDT by Venturer
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To: Evil Slayer

So where are our Conservative Leaders in Congress?

Writing some kind of stern statement scolding Obama?

This President is flushing our Country down the toilet right before our very eyes. WHERE is the balance of power?


5 posted on 10/24/2011 5:58:42 AM PDT by not2worry
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To: Evil Slayer

So where are our Conservative Leaders in Congress?

Writing some kind of stern statement scolding Obama?

This President is flushing our Country down the toilet right before our very eyes. WHERE is the balance of power?


6 posted on 10/24/2011 5:58:48 AM PDT by not2worry
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To: Evil Slayer
He will discuss the changes in mortgage rules at a stop in Nevada, which has one of the hardest-hit housing markets in the country.

Well, Barry, you did tell America not to visit Las Vegas. It could be they are suffering because of a lack of tourists. No workie, no money.

Well what would he know about work and not having money.
7 posted on 10/24/2011 5:58:48 AM PDT by presently no screen name (NO OBAMITT in '12)
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To: Venturer
FLASHBACK: 'I'd like to work my way around Congress'...
8 posted on 10/24/2011 5:59:33 AM PDT by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: Evil Slayer

Good for Drudge. At least there is one true journalist out there.


9 posted on 10/24/2011 5:59:49 AM PDT by jersey117
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To: not2worry

Are any of the presidential candidates screaming about this?


10 posted on 10/24/2011 6:00:15 AM PDT by presently no screen name (NO OBAMITT in '12)
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To: Evil Slayer
Perhaps Obama is getting ready to unveil his special executive order for the Homeowners Emergency Refinance Program and Education Stimulus directive?

The OWS protestors are shills to give cover so Obama can give H.E.R.P.E.S. to working Americans.

11 posted on 10/24/2011 6:02:41 AM PDT by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
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To: Evil Slayer

To a Flashback, We are working under the radar——Fast & Furious.

This man is a criminal.


12 posted on 10/24/2011 6:04:35 AM PDT by Venturer
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To: Evil Slayer

Maybe every stupid kid with a $100K student loan should be given a hud fixer upper as a consolation prize.


13 posted on 10/24/2011 6:06:17 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Evil Slayer

Mein Fuhrer, when will you be scheduling Kristallnacht?


14 posted on 10/24/2011 6:11:31 AM PDT by dagogo redux (A whiff of primitive spirits in the air, harbingers of an impending descent into the feral.)
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To: Evil Slayer
While these actions by the pResident should make Boehner cry, he'll probably go play a few more rounds of golf and yuck it up with this fool.
15 posted on 10/24/2011 6:11:34 AM PDT by Jane Long (Soli Deo Gloria!)
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To: Venturer

“I have lost all respect for a Congress who let’s this tin pot dictator do whatever he wants and they do nothing about it. Where are the Republicans. Hiding in the closet’s?”

My sentiments exactly. And all the GOP faithful wonder why so many people either want a third party or see the big ‘R’ as the only way to get out of this mess.


16 posted on 10/24/2011 6:26:42 AM PDT by MichaelCorleone (Doesn't anyone love liberty anymore?)
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To: Venturer

The Democrats control the Senate. There is little Congress can do to check his power unless they act in concert. That is not going to happen. Reid will support Obama regardless of what he does.


17 posted on 10/24/2011 6:31:40 AM PDT by kabar
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To: Evil Slayer
"The FHFA intends to loosen the terms of the two-year-old Home Affordable Refinance Program (HARP), which helps borrowers who have been making mortgage payments on time but who have not been able to refinance as their home values have dropped."

Fine. I understand. But my questions is, Why?

These targeted homeowners are making monthly payments, consistently and on time. As we all are. Their homes are worth less. As are everyone's. They'd like to refinance at a lower rate. Wouldn't we all?

My point is, what problem does this solve? If they're making the mortgage payments they contracted for, what's going on?

Giving someone a loan based on 125% of the current market value is a recipe for disaster. Wait! I know! We can re-package those worthless loans with other security-backed instruments and sell them!

18 posted on 10/24/2011 6:39:32 AM PDT by misterwhite
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To: Evil Slayer

Drudge used the same pic yesterday when Libya announced it would become an Islamic state under Sharia law. Perfect pic of that smug fool.


19 posted on 10/24/2011 6:39:47 AM PDT by GrandJediMasterYoda (Mark Halperin - Learned the hard way what happens when you speak the truth on PMSNBC.)
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To: Evil Slayer

What about small business being able to re-finance. I can tell you from personal experience, as well as the experience of many of my small business colleagues, that is impossible to re-fi a small business loan these days. The banks are concelling loans right and left (even though the business owners are not in arrears), and it is just about impossible to find new lenders.

For those who are unfamiliar with business loans, they are not like home loans. Most of them are on a 5 year basis, and banks have always been willing to renew the term every 5 years. Not so any more.


20 posted on 10/24/2011 6:41:34 AM PDT by afraidfortherepublic
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To: Evil Slayer
I need to change my tagline, he IS a dictator now! I truly believe there will be no elections next year.

The Occupy movement will facilitate his complete takeover of this country & not one pubbie in congress is doing or saying a thing about it.

21 posted on 10/24/2011 6:41:48 AM PDT by blondee123 (Obama-The Wanna-be Dictator!)
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To: kabar
"There is little Congress can do to check his power unless they act in concert."

Correct. The Republicans would be painted as "supporting bailouts for Wall Street but not Main Street". There's no upside to opposing this without the numbers in Congress.

22 posted on 10/24/2011 6:43:33 AM PDT by misterwhite
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To: MichaelCorleone
Both parties are the same. They sit on their royal behinds collecting all the kickbacks and sexual favors. We need term limits! Two terms and you're out. We need to replace these criminals with real everyday people. No life long politicians. maybe that's why I like Cain.
23 posted on 10/24/2011 6:46:00 AM PDT by baddog 219
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To: blondee123

Thus the real intention of his “jobs bill” to get his hands on all that moolah and do pay offs.


24 posted on 10/24/2011 6:47:53 AM PDT by GrandJediMasterYoda (Mark Halperin - Learned the hard way what happens when you speak the truth on PMSNBC.)
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To: central_va

How about a President for a Day program. Each participant gets 3 laws.


25 posted on 10/24/2011 6:53:32 AM PDT by ImJustAnotherOkie (zerogottago)
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To: blondee123
... he IS a dictator now! I truly believe there will be no elections next year.

The elections will happen. Bad things happen to dictators.

26 posted on 10/24/2011 6:54:40 AM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: dagogo redux

He pretty much has on Israel. Libya-Islamic state. Check! (Announced yesterday) Egypt-Islamic state. Pretty soon. Iraq-Islamic state. Pulling troops out so Iran can take over. Check! Check! Check! and Checkmate on Israel. My God, this guy is swift. Now our first foreign born Islamic POTUS will be seen as a Martyr. Al-Qaeda only wishes they could accomplish was The One has done in only a few short years. Oh yes, but he did take out Bin Laden. But that was more like John Gotti rubbing out Paul Castellano so Gotti could become the new Don.


27 posted on 10/24/2011 6:56:45 AM PDT by GrandJediMasterYoda (Mark Halperin - Learned the hard way what happens when you speak the truth on PMSNBC.)
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To: SandRat
The elections will happen. Bad things happen to dictators.

Sic semper Tyrannis.

28 posted on 10/24/2011 6:57:56 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Evil Slayer

Another campaign tour for which the taxpayers are picking up the tab, no doubt. Is there any other reason he can’t announce this stuff from Washington?


29 posted on 10/24/2011 7:08:59 AM PDT by SmileRight
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To: Evil Slayer
I have said this before. This evil bass-turd is creating the Apocalypse. He will not stop until he destroys the world one way or another. Don't believe me.... Just look at that sh*t eating grin....
30 posted on 10/24/2011 7:09:22 AM PDT by baddog 219
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To: central_va

Semper Fi


31 posted on 10/24/2011 7:09:33 AM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: SandRat
The elections will happen. Bad things happen to dictators.

Not if he can declare "martial law" due to riots in the streets.

32 posted on 10/24/2011 7:09:38 AM PDT by blondee123 (Obama-The Wanna-be Dictator!)
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To: Evil Slayer

The Sun King.


33 posted on 10/24/2011 7:10:09 AM PDT by denydenydeny (The moment you step into a world of facts, you step into a world of limits. --Chesterton)
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To: Venturer

34 posted on 10/24/2011 7:11:34 AM PDT by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: Evil Slayer
(Jimmy Carter, Bill Clinton, Janet Reno to blame for mortgage mess)

Head line should read "Obama to finally shut down banks once and for all"....letting people who cannot afford to pay their mortgages make those loan in the first place is Criminal not only the act but to the people who think they can own a home and not pay for it. Obama should be locked up for even suggesting such a thing.

35 posted on 10/24/2011 8:46:09 AM PDT by yoe
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To: central_va
Maybe every stupid kid with a $100K student loan should be given a hud fixer upper as a consolation prize.

Indeed. He'll probably forgive student loans and turn the housing into Section 8s.

36 posted on 10/24/2011 3:53:50 PM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: misterwhite
Giving someone a loan based on 125% of the current market value is a recipe for disaster. Wait! I know! We can re-package those worthless loans with other security-backed instruments and sell them!

Post of the day.

37 posted on 10/24/2011 7:30:18 PM PDT by newzjunkey (Republicans will find a way to reelected Obama.)
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