Posted on 03/08/2012 10:29:48 PM PST by Steelfish
Obama Unveils New Foreclosure Measures To Resuscitate Housing Market
By Zachary A. Goldfarb March 8
President Obama has begun embracing housing policies that administration officials earlier thought unwise or unworkable as he embarks on his most aggressive push to address the nation’s foreclosure crisis and depressed real estate market since the first months of his tenure.
Obama has unveiled more than half a dozen plans in recent months to help millions more Americans refinance their mortgages at low rates, to reduce the debts owed by struggling homeowners and to expand existing programs to broaden the pool of borrowers eligible for government aid. The latest initiatives, announced this week, seek to help members of the military and Americans who have government-insured mortgages.
The administration had previously rejected some of these efforts on the grounds that they were wrong on the merits, risky for taxpayers or could not be done. For instance, administration officials in the past had said they didn’t want to bail out speculators or people who had taken on far too much debt. Now, under certain circumstances, the administration is willing to do both.
What’s more, in recent months Obama has used his bully pulpit to discuss housing far more than earlier in his term. After rarely mentioning the nation’s housing problems for several years, the president is directly confronting the issue, which he has called the “most stubborn” of his presidency.
(Excerpt) Read more at washingtonpost.com ...
Could he do something with the election in mind?
We might see Obama announce an executive order to refinance everyone’s mortgage through the federal government. Since he’s very big on ruling through decrees rather than dealing with Congress, he will come up with something he can do by executive order.
Or perhaps he will announce that somehow the federal government will buy up all of the foreclosed homes and take over all bad mortgages, to give mortgage lenders and homeowners a fresh start.
I have feared that somehow the feds will take over foreclosed houses and turn them into Section 8 housing. Unfortunately, once you get Section 8 into decent neighborhoods, those neighborhoods start going downhill.
Barack the Kenyan spending our grandchildrens’ future again. Commies Gone Wild!
He’s spending our taxpayer dollars with a large segment of the electorate to help him win re-election. And the Republican leadership isn’t calling on him.
We still have a long way to go.
I think the government will end up owning these properties.
People should read the fine print of any documents they sign for any help they receive
from the Government. I think it is more than just for votes.
Any mention of congress here. Nope.. I don’t think so. Remember the black lady who said “Obamas gonna pay my mortgage”. Well close- the tax payer is going to pay. Many of them unable to afford a house of their own. But because they were prudent then they got screwed, while they watch these other people get it all for free.
“Unworkable or unwise”...
It’s not about doing something effective, it’s just about doing something on the subject.
The administration has long since gotten past the “do something, even if it’s wrong” stage.
It's sick. Here's another article related to Obama giving away free houses:
--------------------------
Countdown until Jackwagon leaves Office: 317 days as of March 9, 2012.
This won't happen until the market bottoms out.
How does the President have this power?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.