Housing secretary defends Obama foreclosure plan (Obama in panic mode after bailout backlash)

cnn ^ | 2/22/2009 | cnn

[tobyhill]

The Obama administration's efforts to help struggling homeowners will aid "responsible" borrowers, not deadbeats or speculators, Housing Secretary Shaun Donovan said Sunday.

President Barack Obama announced the plan Wednesday, saying it will help up to 9 million people keep their homes in a housing market ravaged by foreclosures. But critics, including several leading Republicans and some commentators, said the $75 billion proposal will unfairly help some people at the expense of others.

White House spokesman Robert Gibbs acknowledged Friday that some people who made "bad decisions" might end up getting help under the proposal. But Donovan, Obama's secretary of housing and urban development, told CNN's "State of the Union" on Sunday that "there are no 'flippers,' investor-owners or scammers that are eligible for this program."

"We're going check everybody's income when they come into this program. We're going to make sure that people are paying their bills. And more than anything, we're targeting the folks who are playing by the rules," Donovan said.

[tobyhill]

Here's all the fine print anyone needs to know, “taxpayers are screwed”.

[I_Like_Spam]

What does “playing by the rules” supposed to mean?

If someone committed actual fraud against a financial institution or someone else, they ought to be prosecuted- not just denied a bailout.

[keepitreal]

Investors and flippers are really bad people, much worse than those who lied to get their mortgages.

[kcvl]

"We're going check everybody's income when they come into this program. We're going to make sure that people are paying their bills. And more than anything, we're targeting the folks who are playing by the rules," Donovan said.

"WE" are going to what?! How does he think they are going to do that when they can't even check their own appointees' backgrounds and whether they 'played by the rules' like PAYING THEIR TAXES?!

[goodnesswins]

Yeah...like RUBIN? BAAWWWWAHHHHHHHHHHH....sorry....I know Rubin isn’t in foreclosure, but, I’ll betcha this will REALLY HELP HIM!

[garjog]

Means test: did they donate to Obama?

[kcvl]

Reparations by any other name, is still reparations. Stealth or not.

Exactly! It doesn't matter what they want to call it!

[lawnguy]

"We're going check everybody's income when they come into this program. We're going to make sure that people are paying their bills. And more than anything, we're targeting the folks who are playing by the rules

The little detail that's missing here is who exactly the "we" is. The "we" is the army of ACORN moonbats who will be populating these agencies.

Their battle cry will be "affordable housing for all".

[divine_moment_of_facts]

"there are no 'flippers,' investor-owners or scammers that are eligible for this program."

When did not being eligible stop the Government from giving money to the undeserving?

[GBA]

Yes, it's a problem, but it's probably too late for them and for us, as well as for a bunch of people who thought they could retire and line on their investments. Those in his base were just a means to and end...his being elected. The messiah isn't like Clinton with his ego needing to be fed constantly. He's more like the radical islamists who blow themselves up to achieve a goal.

[longtermmemmory]

The comment on chris wallace was EXACTLY that the white house is in full on panic mode.

Obama has only been in 4 weeks and he is already falling appart.

[MississippiMan]

How many "stated income" liars and illegal aliens are on the list of those to be helped? How many "no doc" loans were made to wholly unqualified borrowers? These people should not be bailed out. It's time for them to be out of the market. It's NOT time for their stupidity to be rescued by laying the burden on taxpayers.

I said here on FR many, many months ago that in the end those of us who bought houses we can afford would wind up paying for the houses of those who bought what they could not afford. Several people promptly explained to me how impossible that notion is. Uh-huh. It's been obvious for a long time that this is exactly what was coming, and this is PRECISELY the kind of move that SHOULD cause an all-out tax revolt.

MM

[libs_kma]

"We're going check everybody's income when they come into this program...."

What a Clintonesque statement. I'm sure they will check incomes and those who actually work will be put on the bottom of the list."

Isn't that the truth. We learned to parse and listen to every word said, and analyze it for it's worst possible meaning under klintoon.

We have to start thinking like that again ASAP with this administration, because they learned alot watching "the Stain on the Presidency".

[GBA]

I think Clinton was/is all about Clinton and sold whatever he could to the highest bidder for his own personal gain.

[Last Dakotan]

...we're targeting the folks who are playing by the rules,"

I hear that phrase from democrats all the time. Still trying to figure out what it means.

[longtermmemmory]

IOW the government is going to decide what the peoples NEED?

so if some government social worker decides yo don’t need then you don’t get. a subjective test? is there going to be a party affiliation test ala chicago? do we need a letter from our community organizer?

[tubebender]

The biggest punch to O’Bambi’s plan was which network left the reservation and then backed it up that night when Brian Williams used it as the lead off story and added to it.

Remember folks, 92 % of home buyers are making their payments on time and those in default are the result of ACORN putting a gun to the head of bankers...

[Myrddin]

I think the current figure for default of "modified" mortgages is running about 59%. The same people who wouldn't pay the mortgage on the original terms still won't pay when the terms are modified. I predict they will default again...after responsible people are burdened with their irresponsibility.

[HANG THE EXPENSE]

Housing secretary needs to whipe his chin.

[Last Dakotan]

Since the kulaks represented a political threat to communism...

We all know how that ends..