taxpayers are on the hook for up to $60 billion to pay for the program.
Naturally. Folks passing their free pie in the ...
...will need an unlimited supply of a$$paper.
Posted on 11/11/2011 6:19:51 AM PST by Driftwood1
When you're in trouble, nothing beats a helping hand — provided you can reach it. Certain homeowners with "underwater" mortgages are about to find that out.
Say you're a homeowner with such a mortgage. The value of your home has dropped over the last few years until it is much less than you owe. It looks like you'll never get any relief. Then the government announces another plan to help people like you — the ones who have struggled to pay their mortgages on time. So you apply. Surprise: there are technical terms (which nobody mentioned ahead of time) that mean you don't qualify. And you realize that the only thing worse than dealing with a continuing problem is having your hopes raised and then dashed.
On second thought, the only thing worse is to find that, regardless of whether you qualify, taxpayers are on the hook for up to $60 billion to pay for the program.
(Excerpt) Read more at deseretnews.com ...
Next will be a program to compensate people for any publicly traded stock they ever lost money on. Right?
Or you can file the reams of paper work several times because Freddie or Fannie keeps “losing” the papers...until the sheriff comes to padlock the home. It happened to our neighbors.
Meanwhile, the Liar-in-Chief gets his mug on TV to tell everyone about the newest “help” that his bureaucrats are giving to struggling, jobless home owners. Disgusting.
Apparently, my current mortgage holder will give me a no closing cost 20 year refi at 4.124%. Kelly said it was a new government program to help people through the crisis.
Here is the fun part. You don't qualify unless your credit is good, all your payments are current and you have not seen a reduction in your income or changed jobs in the last 6 months. WTF?
I asked Kelly, “Who is the government trying help here?”
Classic move, the devil is in the details yet the people (sheep) will only hear the words not what it truly is all about..............Dumbing down America over the last 50 plus years has truly worked
Hell if it were any good, it wouldn't be an "0bama" program.
FUBO GTFO! 436 Days until Noon Jan 20, 2013
I lost a dime in a vending machine the other day. I demand an executive order to stop Big Vending from exploiting the little people.
Next will be a program to support (no pun intended) people who are gravitationally challenged.....and funded by a tax on Dwarf hurling.
I’m waiting to hear if I’m eligible. House was purchased at $245,000 in 2007-ish and I’m lucky it the thing is worth $195,000.
“Next will be a program to compensate people for any publicly traded stock they ever lost money on. Right?”
Same theory, IMHO.
The Feds meddling in mortgages helped directly cause both the boom and the bust in the housing market. But they couldn’t have done it without both the lenders and borrowers active participation in “get rich quick” real estate investment schemes.
Lots of criminal financial shenanigans were committed by borrowers, banks and investors, and Federal government agencies.
Why should those most directly involved in creating this mess be further “helped” to avoid the financial consequences? And the “help” is coming from the same elected government officials and bureaucratic agencies that caused the mess?
This is insane!
I also want compensation for all the Barack Obama action figures I bought. They haven’t retained their value like I had hoped.
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