Posted on 07/14/2009 1:08:38 PM PDT by GreaterSwiss
NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.
As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said. (Reporting by Patrick Rucker; Editing by Diane Craft)
(Excerpt) Read more at reuters.com ...
More welfare.
It makes sense but why does Obama think it’s his choice to make? Oh right. More power grabbing.
Good grief, get this nut out of here.
To who? Why Big Brother of course. How many people will freely give up their property to Big Brother in exchange for lower rent payments versus mortgage? Of course, then, when Big Brother becomes your landlord, he is responsible for maintaining your property and putting restrictions on what you can or can't do there.. and so it goes...
They don’t own their homes, Barry....
If they owned them, they wouldn’t have any payments...
Let me guess - Goldman Sachs will own the houses? The rent checks will go right to them from the Gov’t?
My house is paid for and I work = I am screwed and am expecting no such bailout in any form but paying higher taxes. Lovely. =.=
Cradle to grave, baby, cradle to grave.....
Obama wants to be a big slumlord like his mentor/bagman, the amazingly crooked Tony Rezko.
How about kicking them out of "their" stolen home, and letting them rent a much smaller one?
A “tax holiday” for all makes more sense. IMHO
Indeed. Hope nobody wants to smoke in their *own* houses, or keep their firearms there either! And as for that thermostat.....
This “plan” is so bad (and scary)I find it difficult to believe that it will be taken seriously. Then again, we do not have serious people in charge at the moment.
This guy must go - soon.
Oh wait that's no problem they will just do what they always do and raise taxes on the remaining property owners.
You have to surrender your home to a family that doesn’t work for one month out of each year...
Shared responsibilty...
The Squatter’s Bill of Rights!
Where can responsible adults who pay their bills get some reliefe rom the burden of confiscatory taxation? Hell, i could easily pay my mortgage (and buy a boat) if I didn’t have this tax burden.
We’re being “punished” for being responsible while others are rewarded for being dirtbags. Ugh.
Good news is, Barry The Kenyan will probably be a one-termer, bad news is, I don’t think we’ll make it that long...
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