Posted on 12/12/2012 10:21:40 AM PST by SeekAndFind
The Obama administration is launching a brand-new public service announcement to tout Treasury and Housing & Urban Development‘s joint initiative to help progress "the Obama Administration's broad strategy to help homeowners avoid foreclosure, stabilize the country's housing market, and improve the nation's economy." Via Politico:
CLICK ABOVE LINK FOR THE VIDEO...
“While communities across the country are beginning to recover from an unprecedented housing crisis, too many families are still struggling with their mortgage payments and are unsure of where to turn for help,” said Treasury undersecretary for domestic finance Mary Miller in a statement. “Millions of homeowners have gotten help to avoid foreclosure since 2009. We want to make sure struggling homeowners know today that there are free government resources available to help homeowners avoid foreclosure.” …
The ad emphasizes an Obama administration housing initiative called the Making Home Affordable Program that allows homeowners a way to lower their monthly payments, avoid foreclosure or temporarily suspend their mortgage payments.
“Making home affordable is a free government program.” Is that a huge, glaring red flag for anybody else? I realize that these are tough times and there are many people undergoing real material hardship, but remember what happened when decades of the federal government’s meddling in the housing market came to a head, just a few years ago? I believe we call that little ol’ occurrence, the financial meltdown. The feds’ housing-policy apparatuses are already in dire straits, and as much as Obama just loves to talk about ‘not going back to the same policies that got us here in the first place,’ he is remarkably committed to furthering the government’s self-imposed role in providing politically-edged financial services that the private sector is much better at administering.
But that is not the whole story. Chapter 2 of the story is the “affordable housing” policies going back many years, spawned by liberals and progressives. These increasingly extreme and unbalanced policies began the housing bubble even before the Fed’s miscalculations starting in 2001. Moreover, because of these affordable housing policies, when the bubble burst, and housing prices stopped rising and started deep declines, the resulting damage was far worse. …
The big problem wasn’t caused just by loans to low income borrowers. The problem was that once lending standards were trashed for these borrowers, they couldn’t be maintained for more creditworthy borrowers. This let more well-heeled speculators in on the scam, now able to qualify for highly speculative mortgages they could not have qualified for previously. That vastly expanded the resulting credit risk vulnerabilities for the financial system, and vastly pumped up the housing bubble far more.
Taxpayer’s main responsibility is now to provide a good life, virtually free of charge, to Obama’s shiftless, perverted and amoral voting base which Hillary Clinton will inherit.
This will continue as long as the beleagured taxpayer meekly hands over their hard won money, that should be theirs to use for their own families, to our Communist/Marxist semi-dictatorship. There are more ways to fight a subversive, un-American, thieving administration than outright violence. Obama and his Chicago style, shakedown government can’t survive on it’s own.
“The Obama admin wants you to know they’re here to help with mortgage payments...”
unless you’re white, conservative, Christian, and have a job.
FMCDH(BITS)
That’s very good.
Those of us who have paid our mortgages all of our lives are getting hosed—AGAIN.
Sure, sure and next year (2014) they will “recapture” the assistance on your income tax return.
As a taxpayer I object!!!
If you sign a mortgage and miss paying it you should lose your home!!!!
The government making payments, or reductions of the mortgage is STEALING FROM ME!!!!
my prediction is the fed will buy up the mortgages and as owner pay the banks a “servicing agent fee” for doing nothing. (no forclosure etc.)
The defaulters in the red line zones will essentially obtain the property by adverse posession. A windfall for those who dwell in high crime and high poverty areas no sane person would invest a penny.
your contract with the bank is just you.
The taxpayer funding is with your representatives.
divide and conquer by the banks who inflated the values and the borrower who inflated the income.
The free market would have fixed this by now.
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