Posted on 01/05/2012 11:58:11 AM PST by Kaslin
I think the catch is they must be 3 months current in their mortgage, but they will wave anything for votes.
Where is his authority to do this?
I better register ‘Rat first.....maybe apply some really dark pigmentation....change my name to Rasta and vola, no mortgage.
They put the unions in front of the secured creditors for the auto bailout.
Who is going to stop him?
Why does the House fund what Obama is doing? I thought they could withhold $ and effectively put the kabosh on him but I’m still waiting. Guess they’re too afraid of being called “obstructionist”. What’s wrong with obstruction unconsttioual acts by a rogue POTUS?
Only one party is private and that party will be getting free money.
For folks like myself that bought in 2007 and never had their mortgage purchased by Fannie/Freddie, will we continue to pay our higher mortgage rate and at the same time subsidize the Fannie/Freddie customers’ lower rates.
Don’t get me wrong, I don’t think I or anyone else should be getting this at taxpayer expense, but I don’t see how this passes 14th Amendment equal protection muster.
Commerce Clause. The Graduated Mortgage Interest Rate.
obama actually announced this months ago. The problem is the banks said “Not gonna’ do it”. The only way this can work is if the government pays the banks the difference. And that may be the plan.
And, EVERYONE who is current would qualify. There will be no appraisal, no income verification, etc. So if you want the government (taxpayers) to pay off some of your mortgage, go for it.
I have a mortgage. I refinanced in August. My payments are under control, we have never been late. I would not take Obama’s refi on a bet.
Now, when I read “forgive all mortgages” I thought it mean’t “give me the deed to my home” NOW instead of 30 years from now with no further payments.
THAT would be a disaster.
I know Rush isn't this stupid, so what gives? This Obama mortgage plan will certainly be structured to dump the losses on the taxpayers, not Obama's handlers in the banking industry - who made out like bandits from the CRA and the subsequent loosening of lending standards.
I'm sure the bondholders of GM and Chrysler were wondering the same thing.
If you think that arrogant pos occupant of 1600 Pennsylvania Ave cares, then you are greatly mistaken.
Because he is Pharohbama.
****It’s obvious the Republican party has learned nothing from 2008. They are back to this Mr. Magoo campaign style where nobody in the party is permitted to speak poorly of Obama other than some mild criticism of his policies and anybody that breaks the rule is roundly condemned by the RINO establishment. After all that tactic worked SO well in 2008. Treating Obama with kid gloves really drove voters to McCain. All the while Obama is laughing his @ss off as he uses the Constitution for toilet paper.****
And why shouldn’t he laugh his ass off? Look what has happened to half the Republican candidates for President. The media works its magic along with Dem operatives to successfully destroy them with no trouble at all. We are giving Obama power when we let the media destroy our candidates because it tells the rest of the Republicans that it can happen to them too.
The three months current is going to be where they get totally slippery. Of course if this goes thru it benefits the banks and the writers and they get clean paper and the fees, but the deadwood will still fail to pay their mortgages. Gimmick for the most part.
And why didn’t Democrats do this years ago instead of the failed stimulus bill?
Forgive Student loans to follow?
Thank God our mortgage has been paid off since around 1985
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