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I tried to refinance recently and found that my property had lost 25% of its value. That is essentially how much cash ("skin-in-the-game") I had used to purchase it. Since now what I owe is what the property is worth I was denied a re-fi unless I put up another 20% to make up the decline. I suspect that's the real reason banks aren't lending, not that they're greedy and hoarding their cash. Now in my situation I made all the payments despite spotty employment (construction worker) by renting the property out and moving in with family just to avoid foreclosure. Under 0bamanomics I'd be better off skipping payments, living there for free and waiting for the fed to force the bank to adjust my mortgage.

I'll say this much , come Nov 2nd Hussain is in for a big surprise. He may have the support of his bought off union leadership, but the rank and file are starting to despise him.

He may have the support of his bought off union leadership, but the rank and file are starting to despise him.

Couldn't have been put better YR!

Obama is between the proverbial "rock and a hard place" between paying off his crone's and pleasing the liberal voters.

My daughter found out earlier this year, that the house she and my son-in-law bought is worth less then when they original purchased it. My first thought was to tell here, see that is what you get when you vote for the rats, but I let it go. I just hope and pray that she and her husband will wake up