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Obama calls on Congress to help more homeowners
Associated Press ^ | May 11, 2013 9:36 AM EDT | Darlene Superville

Posted on 05/11/2013 10:41:45 AM PDT by Olog-hai

President Barack Obama says Congress must give more homeowners the chance to refinance their mortgages to save money.

Obama says more than 2 million people are saving about $3,000 a year after restructuring their loans under his administration but that more deserve the same chance. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Government; News/Current Events; US: District of Columbia
KEYWORDS: govtrefinancing; homeowners; predatorylending; subsidizedhousing

1 posted on 05/11/2013 10:41:46 AM PDT by Olog-hai
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To: Olog-hai

I imagine any “help” received would have to include those who are “hardworking” but are non-homeowners “through no fault of their own.” The government will have to send them $3000 per year also.


2 posted on 05/11/2013 10:45:06 AM PDT by FlingWingFlyer (America is the root cause of violent crime in Mexico. - Barack Hussein Obama Jr.)
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To: Olog-hai

Why? No one ever helped me.


3 posted on 05/11/2013 10:46:06 AM PDT by bgill (The problem is...no one is watching the Watch List!)
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To: Olog-hai
This is ludicrous. Absolutely ludicrous. So, it is the responsibility of the US government, and the taxpayers who supply the salaries and funds that the parasites in government survive off of, to take are of people's mortgages? It was this type of social engineering through government that in large measure led to the 2008 financial crisis.

The irony is that while this pathetic excuse for a president denigrates the achievements and successes of those who have worked hard for what they have, his policies support and propagate the power, privilege, and ‘success’ of one of the few ‘successful’ groups of people that actually don't deserve what they have - politicians.

4 posted on 05/11/2013 10:49:38 AM PDT by pieceofthepuzzle (Hil)
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To: Olog-hai

I personally know four people who tried to re-fi under HARP, one ended up in foreclose, the another took eight months, two others were refused out right (one of those actually signed all the docs, and when the money was not funded were told “we changed our minds”).

Not sure who these two million are, my guess numbers a grossly inflated.


5 posted on 05/11/2013 10:53:20 AM PDT by svcw (If you are dead when your heart stops, why aren't you alive when it starts.)
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To: pieceofthepuzzle

I have no problem with re-fi’s, I do have a problem with government interference.


6 posted on 05/11/2013 10:54:08 AM PDT by svcw (If you are dead when your heart stops, why aren't you alive when it starts.)
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To: Olog-hai

*Rolleyes* Heard him yappin’ about this, this morning - before I could turn the radio OFF!


7 posted on 05/11/2013 10:55:27 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Olog-hai

Great. So anyone who overpays for anything “through no fault of their own” — from a college education to medical care — should now look forward to the gov’t bailing them out.


8 posted on 05/11/2013 11:03:21 AM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: Olog-hai

Housing Bubble Version 2.0

What could possibly go wrong? It worked so well before.

I don’t really need a sarcasm tag, do I?


9 posted on 05/11/2013 11:08:11 AM PDT by Bob
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To: Olog-hai

I normally miss no opportunity to slander The Prezzie, but without a recent Freddie Mac No-Doc loan, there’s no way I could have refinanced my mortgage last year. Not exactly a “liar loan”, we were current, have stellar credit, but are “property poor” as our income has yet to fully recover. A 2.5% drop added up to almost $500/ month in savings. Thanks, O’bammy!


10 posted on 05/11/2013 11:10:49 AM PDT by pingman (Trust a lib? Surely you jest!)
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To: Olog-hai

Surely Barry is joking about helping anyone, ya think? This is unbelievable. Watch this!

https://www.youtube.com/embed/c1Q1qzfL9rE


11 posted on 05/11/2013 11:15:25 AM PDT by ExTexasRedhead
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To: svcw

>>Not sure who these two million are, my guess numbers a grossly inflated.

I doubt it. But, like all Obama schemes, it doesn’t help the people who deserve help. It helps deadbeats and people who don’t need it, but rarely anyone in the middle.

Case in point: a close friend just did a HARP re-fi. He and his wife make about $250k/yr. They own a home that is not underwater, and they can easily pay all their bills. They did the HARP and it shot through the system in under a month.

They saved so much money that they are using the excess to buy a beach condo.


12 posted on 05/11/2013 11:26:57 AM PDT by Bryanw92 (Sic semper tyrannis)
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To: Bryanw92

Holy smokes......now that is disgusting.


13 posted on 05/11/2013 11:32:56 AM PDT by svcw (If you are dead when your heart stops, why aren't you alive when it starts.)
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To: Olog-hai

Our economy is being propped up with borrowed money. This doesn’t end well and soon we’ll be ‘paying the piper’. The question is WHEN.


14 posted on 05/11/2013 11:34:06 AM PDT by GeorgeWashingtonsGhost
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To: Olog-hai

WTF? When do I GET MY FREE $H1t ?!?!?!


15 posted on 05/11/2013 11:35:55 AM PDT by Psycho_Bunny (Thought Puzzle: Describe Islam without using the phrase "mental disorder" more than four times.)
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To: Olog-hai

My husband and I paid off two mortgages and own two homes outright, the government never helped me.

I am so sick of these perpetual moochers.


16 posted on 05/11/2013 11:49:30 AM PDT by alice_in_bubbaland (When injustice becomes law, resistance becomes mandatory- Thomas Jefferson)
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To: Olog-hai

I am all in favor of finding another couple to occupy the White House. Perhaps he could leave early to make that happen sooner.


17 posted on 05/11/2013 12:19:44 PM PDT by Mouton (108th MI Group.....68-71)
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To: alice_in_bubbaland

The only “help” I got from the goveernment was a VA loan. Only previso was to have an honorable discharge. Today we just give things away because it feels good to do so. To those underwater in their homes, get used to it or sell the blasted thing...live within your means. BTW, I was 31 when I bought my first home and it was a small condo, not 4+ bedrooms, 3 and half baths, media room on a golf course or on a lake. I am happy I now have my house paid off but to do so I was drove two cars into the ground, both were about 15yo when I doumped them. Again, live within your means, not augmented by mine.


18 posted on 05/11/2013 12:27:19 PM PDT by Mouton (108th MI Group.....68-71)
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To: Olog-hai
It failed so well before so why not try it again.

19 posted on 05/11/2013 12:45:44 PM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: BitWielder1

“The only “help” I got from the goveernment was a VA loan.”

I am not a veteran, but I do not consider this a gift, it is part of the deal. You probably were not getting paid the big bucks when you were in the military, and may not have had an opportunity to establish credit the way people could in the private sector. This is something that really is OWED.


20 posted on 05/11/2013 2:12:21 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is v?ery late in the day.")
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To: alice_in_bubbaland
I am so sick of these perpetual moochers.

We paid off our mortgage in less than 15 years on my salary. Wife quit her job which paid more than mine when the daughter was 6 months old.

21 posted on 05/11/2013 3:20:11 PM PDT by Arrowhead1952 (The Second Amendment is NOT about the right to hunt. It IS a right to shoot tyrants.)
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To: Olog-hai

ACORN’s Food Stamp Mortgages

An ardent proponent of the CRA, ACORN benefactor, organizer, and trainer Barack H. Obama, Esq., contributed to the increasingly hostile environment for banks when he represented the plaintiffs in the 1995 class action lawsuit Buycks-Roberson v. Citibank. The suit demanded that the bank grant mortgages to an equal percentage of minority and non-minority mortgage applicants.

http://spectator.org/archives/2008/10/29/acorns-food-stamp-mortgages


22 posted on 05/11/2013 5:16:48 PM PDT by Mortrey (Impeach President Soros)
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To: Mortrey
Remember this one?

Shamed by Publicity, Banks Stress Minority Mortgages – New York Times, August 30, 1993
23 posted on 05/11/2013 5:27:01 PM PDT by Olog-hai
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