Skip to comments.Mortgage debt ploy could sway 24 million voters to back Obama re-election
Posted on 06/22/2012 12:05:50 PM PDT by TribalPrincess2U
One of the benefits of such a move, Krugman said, would be some additional economic activity at a time when the economy is sluggish. But another benefit is clearly political and could provide the votes Obama needs to be re-elected.
(Excerpt) Read more at worldnewstribune.com ...
The socialist takeover is almost complete. Rot in hell all of you who elected this leftist idiot.
This is already available in HARP 2 [Homeowner Affordable Refinance Program] - not to be confused with HARP 1. Harp 2 is for underwater mortgages. Harp 1 is for anyone.
It's all "free"...no origination fee, no points of any kind, no appraisal fee, nothing... well, paid for by your tax dollars. IIRC part of the stimulus package.
Krugman has always been interesting, especially how he uses his nobel prize credentials to lie outright about the effects of Obamacare:
Useful idiots ride again!
My guess is that most, if not all, of the people that this would apply to voted for Zero last time.
It would amount to a wash, with more tax dollars pi$$ed away.
Dear Leader does not need to actually implement such a thing. He just has to hint that if he’s re-elected, he’ll pay your mortgage. That’s the way many will see talk of “refinancing”.
Remember Clinton’s first campaign and his endless prattle about a Middle Class Tax Cut?
I hope all you ‘I won’t vote for McCain and that will teach the Republicans a lesson........next time they will pick a real Conservative’ people are happy. This disaster will take DECADES to repair, if repair of this once great country is even possible.
What’s the point of being the incumbent unless you can use taxpayer dollars to buy your re-election?
The timing is just about right for him to release his “stash”.
“The socialist takeover is almost complete. Rot in hell all of you who elected this leftist idiot”
I feel the same way about those who are going to sit out the election because they refuse to support Romney. I will blame them as much as the idiots who vote for Obama.
He can hold a lottery for the empty foreclosed houses than Fannie holds the mortgage on.
I have found only one person who had a completed HARP 1 refi and it took her seven months. Everyone else has been denied.
I read somewhere that only 5% of the people who tried ever completed the process.
You mean, actually not voting has consequences? huh, whoda thunk it?
agree...and this would piss off the dopes who pushed him over the top in 2008 and got him elected; independents, disgruntled GOPers, the white vote...
100000%....i said in ‘08 to those b!tching about McCain- he’s not the ideal candidate, not close to it, but he’s not the omnipresent danger to our nation as is obama...if people did not learn from that experience then they are part of the problem...
wow, more of us talking sense.. I too place blame not only on democrats but those that felt “too proud” to vote for Yosemite Sam..
Because a person doesn’t support your candidate Romney does not mean the same as sitting out the election.
Not only are there other offices to vote for, there are also more choices than Romney and BHO for president.
Blaming people who do not support Romney for a potential BHO reelection is as silly as blaming conservatives who for several presidential elections cycles for voting for increasing liberal Republicans as the candidate for president which has brought us Romney.
They could wipe away my mortgage and I’d never vote for that fascist. Ever.
I am sick to death and mad as hell about all this “underwater” homeowner BS.
1. They are not homeowners, they are mortgage holders.
2. They are not any more special or needy than anyone else.
3. Plenty of people who are not ‘underwater’ are hurting just as much in this economy. They have lost jobs, had hours reduced, have health issues, are struggling to pay their non-underwater mortgage etc.
4. Even people with no mortgage who have their homes paid off are struggling in this economy. They still have to pay for upkeep on their homes, property taxes, etc. If they are financially strapped it is just as hard for them. If they sell they are really ‘underwater’ as they have lost REAL money ... money they actually paid for their home ... not potential money that they owe in the future.
5. People who boughty modest homes in modest neighborhoods, paid large downpayments and didn’t leverage their downpayment to buy a more expensive home in a more expensive neighborhood and who didn’t use their homes as ATM would be screwed by this move.
Bailing out the banks caused a huge backlash. If the government decides to use taxpayer dollars to bail out ‘underwater’ mortgage holder the government will be facing a huge backlash ... a moral hazard like they’ve never seen before.
I feel the same way even if it means finding a new internet home.
Krugman, the Nobel dope, should be saddled with massive debt, have his wages garnished, live in a down-trodden rental knowing full well that the rest of his ding-a-ling life is subject to financial serfdom. Then, he can talk all he wants about Kenseyian economics.
Krugman even admits that during the “good times” government should save ... however, the historic gubbernment motto is: “Spend now, save never!”
There is theory ... and then there is reality. Krugman has no clue but he does have a fancy medal!
HARP2 is for underwater mortgages if they are underwritten by Fannie/Freddie, not all underwater mortgages.
HARP is only for deadbeats about to get foreclosed on.
Yeah, thank God we have Romney to fight for us now.
What a waste of time.
“HARP is only for deadbeats about to get foreclosed on.”
No it’s not. A friend just refinanced via HARP2 to lower his monthly payments and his credit is A+.
I wish people would not even print stuff like this for two reasons:
#1. It gives the Obama campaign ideas they might not have yet thought of.
#2. It depresses the hell out of me just to think about something like this happening.
Yes, HARP2 is for anyone with a Fannie/Freddy loan. I was denied because my loan was through VHDA (Virginia’s state version of Fannie/Freddy).
The original HARP was for deadbeats with missed payments.
Ok? I am not sure if you are trying to be cryptic or using code as your reply to me has nothing to do with my reply to the other poster.
That simply is not true.
My friend under HARP 1, was to lower her interest rate, she had never missed a payment.
If 0bummer&TheRegimeFromHell gets another 4 years, the damage will be unrepairable and permanent. America is defacto g-o-n-e, as we know it.
10-4 re HARP vs HARP2. Likewise, I was denied HARP2 because of no Fannie/Freddie involvement.
I believe you’re wrong to throw the blame that way.
Even if they all did vote for McRino it would not have been enough.
If you want to blame someone, blame the party for giving us another Bob Dole. Hell Bob Dole had more balls on top of that. This whole “It’s Someone’s Turn because they put their time in” is bullsh1t. That’s what tanked us. A moderate wimpy friends-across-the-aisle RINO whose turn it was. Who realized if he wanted to even have a chance to win was to get a VP that would get people behind him. And even then had people on his team doing their best to RIP the VP candidate.
You could not be more wrong. Not supporting WHOMEVER IS THE REP CANDIDATE, is in fact as good as voting for Obama.
No, it is not. That argument is false.
Not supporting BHO is not the same as supporting Romney, just as not supporting Romney is the as supporting BHO.
As a conservative voter I have choices and I choose not to vote for a liberal, if you wish to support a liberal candidate that is your choice as well.
I hope all you I wont vote for McCain and that will teach the Republicans a lesson........next time they will pick a real Conservative people are happy. This disaster will take DECADES to repair, if repair of this once great country is even possible.
The patriots who did not vote for McCain because he sucked (I actually did vote for him because of his military service) we were hoping the GOPe learned their lesson and pick a real conservative this round.....EPIC FAIL...I don’t know how many times the GOPe can call “Wolf” as in Peter and the Wolf before the GOPe FINALLY learns to stop chosing liberal Republicans each time. Hopefully after 2012 they will pick a conservative for 2016 or will they want to lose that election too?
I feel the same way about those who are going to sit out the election because they refuse to support Romney.
You should have thought about that before you forced your liberal Republican piece of trash on conservatives....too bad for you moderate Republicans....I hope you have a plan to win the Presidency with Romney....
If you do not vote it means one less vote for the Republican on the ticket. To make it really simple, imagine Obama wins by 2 votes and you and probably a few thousand other purists stayed home and cast no votes.
By not voting you have cost us the chance to remove the stain from the WH.
It really is no more complicated then that
I will try and make it simple.
I have never said I was staying home on election day and not voting.
I said, I am voting and voting for conservatives.
“5. People who bought modest homes in modest neighborhoods, paid large downpayments and didnt leverage their downpayment to buy a more expensive home in a more expensive neighborhood and who didnt use their homes as ATM would be screwed by this move.”
This describes my wife and I perfectly. We are not underwater and never borrowed against our equity but just refinanced at a lower interest rate in February. That cost us over $4,000 for closing costs. Apparently we are stupid, everyone else who is irresponsible gets their modification for free and I have to pay for that too. I’ve about had it!
I agree with you that even if Obammy paid off my mortgage, I’d still never vote for him!!
You were discussing other options in voting.
There are no other real options in our political system than the two-party system. So, if you are concerned about effecting any change you pick one or the other.
If the Super Bowl is between NE and the Giants, I look pretty silly saying “no, I want the Bears to win.”
If you are opposed to Obama and want him out you must vote for Romney. If not, then sure vote any way you want.
I foresee a three-pronged approach to Obama vote buying.
1) this sort of cramdown program to drastically reduce what people owe on their mortgages
2) forgive student loan debts
3) decriminalize pot
I do not want BHO as president.
I do not want Romney as president.
I want a conservative as president and that is who I intend to vote, you do what you need to do.
Let me add to your list of Americans who would be screwed by this move:
The massive amount of people who rent instead of buying overpriced homes. I belong in this group. Why should I pay (taxes) for someone else to live in an underwater mortgaged home while I dutifully pay my rent and huge tax bill.
This crap really pisses me off.
I don’t believe the government should buy me a house. And I sure as hell don’t want to pay for freeloaders to sit in theirs.
I want to win the lottery but I won’t.
Romney is as conservative as you are going to get. Conservatives could not unite around a conservative. So they can either assist the Usurper in maintaining his office or they can vote for Romney. There is no other choice no matter what you pretend.
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