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Author Topic: OBAMA Bypasses Congress With Mortgage Plan.....  (Read 3137 times)

Offline MMC

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OBAMA Bypasses Congress With Mortgage Plan.....
« on: October 24, 2011, 08:16:36 PM »
http://news.yahoo.com/us-moves-help-more-homeowners-refinance-loans-141927211.html

President Barack Obama unveiled a stopgap plan Monday to ease the bite of the real estate crisis for cash-strapped homeowners while attacking Congress for blocking spending to create more jobs.

Thwarted by Republican opposition to his bigger jobs and stimulus package, Obama has shifted tactics by looking for action he can take without congressional approval to provide at least modest economic relief. <<<<< this is totally inaccurate propaganda. It Was his Own Dems that killed his plan. Thats Right Dems killed his plan. All they had to do was vote yes. They didnt! Blame Squarely falls on them.

Nevada has the highest unemployment of any US state at 13.4 percent, and housing prices have plunged 17 percent since the market burst four years ago, igniting the financial meltdown that sent the US economy into a nosedive. <<<<< Home of the Mormon Harry Reid. Hows that Union thing working out down there?

Obama travels later in the week to California and Colorado, where he will be highlighting other problems dragging down the economy, including education, the president's aides said.
There he plans to announce measures to help students better manage their student loan debt when they graduate, they said.

Moody's predicts that foreclosures will rise next year to a record 1.5 million.

Part of Obama's plan is to ease rules governing the Home Affordable Refinance Program (HARP), which allows mortgages backed by financing giants Fannie Mae and Freddie Mac to be refinanced at lower rates.
Under current rules, people whose home values are more than 25 percent below what they owe are disqualified from refinancing at lower rates.

Obama said the rule changes will lift that restriction, reduce closing costs, eliminate certain refinancing fees and encourage greater competition for refinancing business among lenders.

Shaun Donovan, secretary of Housing and Urban Development, said refinancing could save homeowners $2,500 or more per year, "the equivalent of a substantial tax cut."
"Any borrower, independent of how underwater they are, is eligible," he said.....snip~

Bullshit.....they just want to get people to start refinancing their homes for a tax cut. Once again our World of Media falsely puts out misinformation on purpose. For over a week now they are harping on that the Repubs blocked Obama Jobs Bill that wasnt a Jobs bill. Again it can not be repeated enough about all those Democrats that said they would refuse to vote for it if it was taken to the house and senate floors.

Pushing People to take the dive even more. Whats this a new strategy in getting everybody to share the wealth of being put out on the streets. The Home Markets will be changing. No longer will you see 30 yr mortagages. Not to mention he already knows they will soon have to raise Interests Rates.

Again his mantra.....Education. Problem is Education, is not creating jobs now nor for the immediate future. Thoughts?



"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

Offline MMC

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #1 on: October 25, 2011, 06:27:42 AM »
So his plan is if people over more than 25% in and even if the house is not worth the value. They will give them the chance to refi. But here is the catch. They must have their payments on time.

So if they are under and behind. Then how does this help to get those solidified? Also the other condition is the Mortgage must be thru Fannie and Freddie. Many are behind now and would like to refi to get out from under. Course they saying if they can clean up the paperwork and make it easier to refi then people might. I don't hold any stock in tht statement. As Obama has already stated he wanted less overcite on the housing issue. Yet this is what put us into the mess we are in now.

On another note Duetsche Bank has made big gains this quarter in the EU. They also have bought out the London and NY Stock Exchanges. As well as have been buying up US Mortagages. Which means US Soil Boys and girls. Problem is banks like BOA, Chase, and Citi will sell them especially if they are bad loans and can make something off of it. They need to restructure this.  :-\
"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

Offline Cruel

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #2 on: October 25, 2011, 07:28:36 PM »
https://www.youtube.com/watch?v=jvU4cAVF0Dg

Wilson is right in what he said and Baucus shows again how the Leftist politicians are hypocrites and don't have any ideas on how cut government spending.

Offline jgreer

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #3 on: October 25, 2011, 07:49:16 PM »
It is better that the people keep their money instead of going bankrupt and the banks taking everything. This should get Obama a few more votes too hopefully if people are paying attention.
Vote Democrat Like Your Life Depends On It - It Does!!

Offline Cruel

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #4 on: October 25, 2011, 08:29:24 PM »
It is better that the people keep their money instead of going bankrupt and the banks taking everything. This should get Obama a few more votes too hopefully if people are paying attention.


So you're in favor of Obama being a Dictator instead of a President?

http://nation.foxnews.com/president-obama/2011/10/24/krauthammer-slams-obama-mortgage-plan-he-knows-farce

Krauthammer is right.

Offline MMC

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #5 on: October 26, 2011, 12:06:43 AM »
It is better that the people keep their money instead of going bankrupt and the banks taking everything. This should get Obama a few more votes too hopefully if people are paying attention.


So you're in favor of Obama being a Dictator instead of a President?

http://nation.foxnews.com/president-obama/2011/10/24/krauthammer-slams-obama-mortgage-plan-he-knows-farce

Krauthammer is right.


Good catch by Krathammer Cruel..... Also the Fundraisers out in Cali-Land were arranged by Jada Pinket Smith and Will Smith. The other fundraiser was set up by Antonio Banderas and Melanie Griffith.

Note who Obama is running to for those Big Money Donations.

The left consistently cries about the rich and those people are Conservatives and or Repubs. Yet all those actors and actresses that are in Tinsel Town are mostly liberals. Like over 85% of them. The most notable other fact is. They are all millionaires. In Which many of those do not pay taxes.

How many actors have been hit for not paying taxes. How many on the left hid shit in Swiss Bank Accounts for years.

Obama telling Fannie and Freddie to ease restrictions. Yet both of them sell off the Mortagages they do get. Any think Banks should be selling off Mortgages to other foreign banks?
"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

Offline MMC

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #6 on: October 26, 2011, 06:45:35 AM »
Again this is nothing more than Wealth Re-distribution.
"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

Offline Cruel

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #7 on: October 26, 2011, 05:36:41 PM »
Again this is nothing more than Wealth Re-distribution.


Quote
"President Obama couldn't have chosen a more fitting slogan than 'We can't wait' to promote his latest legislative elixir for our ailing economy. ... Audacious is no longer an adequate word to describe this president. He forced through his first stimulus through crisis-leveraged fear-mongering and then never really used but a fraction of that money for so-called stimulus purposes. Why would anyone still believe a thing he says? Who is he to tell us 'we can't wait' on the proper constitutional safeguards against such precipitous executive action? He is not America's king. The Framers deliberately placed safeguards in our system to prevent such capricious executive action. ... [H]e doesn't believe he needs authority, only 'noble' intentions." --columnist David Limbaugh



Offline GRUMPY

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #8 on: November 02, 2011, 12:13:02 PM »
for the sake of clarity obama had/has no jobs plan, never did.....this is just another stimulus may i buy your vote scheme that has nothing to do with taking the foot of govt off the throat of entrepreneurs....

this is an interesting piece re the housing collapse....

http://news.investors.com/Article/589858/201110310805/Housing-Crisis-Obama-Clinton-Subprime.htm

Offline MMC

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Re: OBAMA Bypasses Congress With Mortgage Plan.....
« Reply #9 on: November 02, 2011, 01:01:40 PM »
for the sake of clarity obama had/has no jobs plan, never did.....this is just another stimulus may i buy your vote scheme that has nothing to do with taking the foot of govt off the throat of entrepreneurs....

this is an interesting piece re the housing collapse....

http://news.investors.com/Article/589858/201110310805/Housing-Crisis-Obama-Clinton-Subprime.htm


Hiya Grumpy.....you should put that up here and let everyone see the facts for themselves. Especially all those from and for the left. But I do like this part.

(It took private analysts, as well as at least one FDIC economist, little time to determine the Boston Fed study was terminally flawed. In addition to finding embarrassing mistakes in the data, they concluded that more relevant measures of a borrower's credit history such as past delinquencies and whether the borrower met lenders credit standards explained the gap in lending between whites and blacks, who on average had poorer credit and higher defaults.) I remember all of this back in 92. So Clinton signed that in as well.


True Dat!

"To destroy this invisible government, To dissolve this UNHOLY ALLIANCE between Corrupt Buisness and Corrupt Politics is the First task of the Statesmanship of the DAY" ~Theodore Roosevelt~ Steward of The People!

 


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