Is Obama about to forgive billions in mortgage principal?

Hot Air ^ | 8/5/10 | Ed Morrissey

[LomanBill]

Does this mean my wife and I will get a refund of the mortgage we (responsibly) worked our arses of for 20+ years to pay off?

Stupid us. Should'a waited for the "Free" Pie....

 

...NOT!

 

I hope Zero likes the big fat $0.00 I'm going to keep sending him for my 1040's earned income.  

 

Gone Galt until 2012.  (Eating my retirement/contractor nestegg now before the DC a$$clowns eat it for me)

[LomanBill]

>>Gee, I feel like a fool for paying off my mortgage

I don’t. No strings attached.

[wildbill]

This is descrimination against those of us who have conventional mortgages.

[Theophilus]

Osage Orange

What a great handle. What a beautiful tree. It's fantastic for making bows.

[LomanBill]

>>They will have to borrow the money from the fed.

Borrow? Borrow implies an intent to repay.

This looks more like a Ponzi-scheme, where there’s no intent repay the majority of investors (the American People) - with a never ending and increasing need for new suckers on the bottom of the pyramid; all to keep the scheme running for the benefit of the elitist few that game the system...from behind a curtain of Bullshyte and Disinformation.

Where’s Toto when you need him?

[Recovering_Democrat]

Extremely bad news.

florida news ping.

[BelegStrongbow]

The key problem in North Carolina is high state taxes. The income tax structure is very flat but set at a very high rate. One can pay more to NC than to the Feds (though that may change over the next few years). The high local taxes keep business out, the Laffer Curve having never made it into UNC business school curricula apparently. And they keep raising the rates.

So, they offer sweetheart deals that always end up being cesspools of corruption (surprize, surprize). Just lowering tax rates never seems to occur to the meatheads in Raleigh or many of the county seats. Not sure how to get them to see sense.

[Elle Bee]

just my luck LOL

.

[Osage Orange]

Yeah...bow's, bowls, fence posts.....etc, etc.

It's a real pretty wood.

http://www.etsy.com/listing/13169427/large-osage-orange-wood-bowl

FRegards,

[RobRoy]

You’ll enjoy this series:
http://www.chrismartenson.com/crashcourse

It gives you a feel for where I am coming from.

[laxcoach]

"I’d have my in-laws screaming at me again if I turned down something like this, which I am still highly inclined to turn down. They already gave me some grief for not taking advantage of the mortgage re-fi programs Obama instituted."

Slightly off subject, but my wife's entire family is aghast at my refusal to buy or lease a GM car. I explained that the gov't/unions screwed bond holders and I won't prop up a fascist corporate/gov't partnership. Gotta love the absolute ignorance and denial: "that's not true".

[longtermmemmory]

in these cases you could ONLY have an appraisal from one of the banks approved appraisers.

those appraisers were on the list because they gave favorable appraisals to the BANKS SPECIFICATIONS.

If you did not obey the bank you were not on the list.
If you did not use the list, you loan was rejected.

[longtermmemmory]

these standards guarantee very few will partake.

most homes are more than 125%, some have even dropped 200% loan to value.

If the loan was current, why would they be in a mess?

This is another Obama pr scam.

[nightmarewhileawake]

What about the “dumb” people who paid cash for their house.
We’re “upsidedown / underwater” -— can we claim we loaned the money to ourselves -— we were our own bank -— why can’t we be bailed out ????

[ynotjjr]

Thanks for your honesty. I can relate. Lost my job after 23 years and have worked for myself ever since. I look at “the greatest generation” like my Dad who has had a solid SS check and a pension and health care for the last 30 years. I never missed a payment on this house since 1989 and have had to go into my 401K for the last two years to help ends meet and the Gov’t hits me with additional taxes and penalties. My house value has gone down and I owe about 50K more than its currently worth. This sounds good to me. Never had the Federal Govt do something nice for me (outside of the military). will it cause me to vote for a democrat? No, but I will feel a little guilty about it.

[April Lexington]

You mean making payments month after month, year after year, just means that I’ve been a sucker?????

In a word... yes.

[magooey]

"Where My cheese????"

Eaten by Rats.

[April Lexington]

How would this not end up destroying a financial market or two? The tax payer base can't afford this generosity and the Chinese may not be interested in lending us the money... Unintended consequences...

[roaddog727]

“You mean making payments month after month, year after year, just means that I’ve been a sucker?????”

Apparently.

AND......

you will be penalized for it as well.

[paulycy]

“I would be surprised if he goes this far. This is way beyond the usual demagoguery.”

Sorry FRiend, but if you believe this then you haven’t been paying attention.