Posted on 02/18/2009 3:23:15 PM PST by callthemlikeyouseethem
PHOENIX, Ariz. – ACORN members are celebrating President Obama's announcement today of the "Homeowner Affordability and Stability Plan," the first federal effort to fight foreclosures since the crisis that brought down the economy began two years ago.
For years, ACORN has been advocating repeal of the ban on judicial modifications, a central plank in the Obama plan that Congress should immediately take up in a must-pass bill and get to the President in March. Obama also proposes administrative actions to spend $75 billion of the Financial Stabilization Fund on facilitating modifications and to require companies receiving taxpayer assistance to use a rational foreclosure prevention protocol to prevent unnecessary foreclosures. These three planks are absolutely essential to repair our economy and are exactly what ACORN called for in its memo to the Obama Transition in January, "Housing for America: A Roadmap out of the Crisis."
"Finally, a President who is a friend of homeowners when it counts," said Bertha Lewis, ACORN CEO. "With 8 to 9 million Americans on the verge of losing their homes in the next four years, the nation's housing crisis demands leadership commensurate with its enormous scale, and we got that today from the Obama Administration. These effective sticks and carrots will do the job that the previous all-voluntary efforts have failed to do, and help prevent millions of unnecessary foreclosures once fully operational and enacted in law. Until that time, however, there should not be a single foreclosure on any family that could benefit from this comprehensive housing plan, so we need a thorough, binding moratorium."
(Excerpt) Read more at acorn.org ...
Obama = ACORN
If I were a lender. I would take this as a sign the judicial system is not going to let me recoup the money I loaned, at least that part of it I could call a profit. This being the case, I’d make damn sure I bled the new mortgagees dry of all their liquid cash in the closing (i.e., no more rolling closing costs and fees into the loan)..
The humourous thing about this is the fact that Obama doesn’t realize how Acorn is going to “screw up” his plan.
Either that or I’d find a new lending line of business floating markers on the Vegas strip with my new business partners, Vinny and Guido......
Where’s the FBI case against ACORN these days?? Didn’t the FBI cart off ACORN computers just before the election relative to voter fraud? We all know the Liberal God would never sanction or order a cover up.
they're filed right behind the William Jefferson case
The Brownshirts are happy. 4 bil in the stim plan and 75 bil for thier housing plan.
So the nuts are running the whole asylum now.
oh joy...(eye roll)
We are taking our money and mortgage away from any bank involved in this bail-out scam very soon.
NO more...had enough!
Did you read this part of ACORN’s ‘plan to fix the economy’:
“Fix Hope for Homeowners by streamlining and broadening eligibility requirements”
WTH??
Isn’t that what GOT US IN THIS MESS IN THE FIRST PLACE?
What is happening in our country is criminal folks and it is time to get mad! This is a recipe for disaster!
What Zero and ACORN either fail or refuse to realize, is that they can write and re-write these loans all they want and the lazy POS’s that couldn’t afford homes in the first place won’t pay those loans either. Next will come Zero and ACORN demanding that the banks give these crapolas credit cards to help mend their ruined credit rating. After which they’ll all file for bankruptcy.
Meanwhile, the family that’s eating the cheap hamburger five nights a week, buying generic cereal and making the car last one more year so they can pay their debts on time will be the happy recipients of 25% interest rates to make up for these losers.
Please, dear Lord, let the nation wake up next year and give us a Congress that will undo all of this that they can.
How do you take a Mortgage AWAY from the bank holding it? Other than paying it off in total?
Acorn has already demanded credit cards and got them. A whole bunch of this debt is credit card defaults on the same losers as well as houses!
We need to pray hard for our country.
Oh...I’m plenty mad.
In two years we can do something about it. Til then, we gotta hope the house repubs stay strong and the senate repubs can rein in the three schmucks.
Refinancing with another bank.
Well...I guess we COULD do that.....maybe we could get a better interest rate for the $60K loan we got in Sept 08....with US Bank....and take it away from Bank of “America”. HHHMMMMMM....maybe, just maybe it’s worth a try! Thanks.
We have to start now though...by posting the truth on as many news comments sections as possible..giving money to conservative politicians and organizing big time!
I’m with ya. I’m also hoping Steele makes some changes at the RNC. Time to step into the 21st century and beat these sob’s.
Check the fees etc. before you do it. I am lucky....Mr. ‘Pen’ does all that complicated financial stuff. US bank is looking very attractive after what I have been reading today too.
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.