[americanophile]

I’m going to run out and buy a house I can’t afford right now...be back later.

[bgill]

When you think nothing can trump yesterday’s headlines, just wait for today’s.

[Pan_Yans Wife]

Engineering further financial ruin for the US.

[KarlInOhio]

... and the grasshoppers spent the winter in the ants' nest eating the food the ants had stored away for hard times.

[Bushbacker1]

The Obama administration is considering allowing Fannie Mae and Freddie Mac to refinance loans with current loan-to-value ratios of 125 percent or higher, Lockhart said at a National Association of Real Estate Editors Association conference in Washington yesterday.

Just makes me want to do this:

[Danae]

Well, I admit it. I am utterly underwater, by about 90K. Not because I had a 105 LTV, but because the prices dropped 100K in my area.

So I am just stuck. Screwed. We can’t re-fi, we can’t do a damn thing other than declare Bankruptcy. Needless to say we don’t want to do any of that, and can make our payments so we just suck it up and try to over pay until we have equity again. What else can we do? Gonna take me graduating from AMU and going back to work. So we are looking at min of a decade stuck. JOY. But at least we are taking it like adults.

[mr_hammer]

Wish Karl would stop telling the truth so much, he is destroying my (fantasy) world...

Signed,
Uncle Ben

[sloop]

more from the economic genius democrats

http://www.humanevents.com/article.php?id=32355

Obama Financial Proposal Contains Sub-Prime Loan Shocker

The Obama administration’s latest financial regulatory reform proposal contains a stunning surprise hidden on page 67: “Rigorous application of the Community Reinvestment Act should be a core function of the CFPA.”