[maine-iac7]

Through Fanny and Freddie - the gov’t already OWNS a vast swath of America homes - it intends to own every single one it can get it's claws into...

and do you think that those homes will EVER be back on the market for citizens to buy from private mortgage companies?

See my tag line. and Remember what Reagan said about the scariest words - “Hi, I'm from the government and I'm here to help you.”

[TwoSwords]

The only constrant refrain I find in this four years of hell is “Where’s the Congress”. They may not know history but their throats are on the line as much as anyone’s.

[Oldexpat]

It was a very slippery slope to let the govt take over 90% of the home mortgage market. Now the last thing that seems to be considered are the basics of financing..the value of the property and the ability of the borrower to repay. We will just dig ourselves a deeper hole. We need the lending decisions to be made freely by a market based banks in diverse markets. Not by a few big banks and one govt.

[Oldexpat]

It was a very slippery slope to let the govt take over 90% of the home mortgage market. Now the last thing that seems to be considered are the basics of financing..the value of the property and the ability of the borrower to repay. We will just dig ourselves a deeper hole. We need the lending decisions to be made freely by a market based banks in diverse markets. Not by a few big banks and one govt.

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[traditional1]

"A wave of refinancing could be a strong stimulus to the economy"

This will FURTHER destroy the economy, as this Reparations Plan (it's all about those non-qualified "buyers" who got loans by Government FORCING banks to loan to welfare queens, and they've NEVER paid their mortgages) and the Taxpayers are again gonna be on the hook for OTHER PEOPLE'S MORTGAGES. (See tagline).

[Free Vulcan]

This is being done to shore the banks as well.

Worst part is a great number of these homes will never be occupied again and will deteriorate to the point of being needed to be torn down.

And the taxpayer will get stuck with the bill.

[stylin19a]

Flippin Wells-Fargo sold my note to Fannie....

looks like I’ll be takin advantage of gubment stuff.

movin on up....

[Jim Robinson]

Woo hoo!! Free money!! Free lunch!! Free beer for all!! Vote here.

[Jumper]

So to qualify, just skip a payment or two. Maybe the govt will then give you a discount on what you owe too. I am hoping for that. I’ll skip a payment or two - and hope they refinance my home at a lower rate for less than I currently owe. Thanks Obamba for the 8K to buy, this just keeps getting better. I got 4 gm cars in the past 48 months, two in the past year for nearly 1/2 price - Govt Motors is hope and change. My 28K 24-month old car only lost $1200 for the final trade in - jeez, the used ones cost more than the new ones! Maybe having cash helps.

[Jumper]

So to qualify, just skip a payment or two. Maybe the govt will then give you a discount on what you owe too. I am hoping for that. I’ll skip a payment or two - and hope they refinance my home at a lower rate for less than I currently owe. Thanks Obamba for the 8K to buy, this just keeps getting better. I got 4 gm cars in the past 48 months, two in the past year for nearly 1/2 price - Govt Motors is hope and change. My 28K miles 24-month old car only lost $1200 for the final trade in - jeez, the used ones cost more than the new ones! Maybe having cash helps.

[Jumper]

So to qualify, just skip a payment or two. Maybe the govt will then give you a discount on what you owe too. I am hoping for that. I’ll skip a payment or two - and hope they refinance my home at a lower rate for less than I currently owe. Thanks Obamba for the 8K to buy, this just keeps getting better. I got 4 gm cars in the past 48 months, two in the past year for nearly 1/2 price - Govt Motors is hope and change. My 28K miles 24-month old car only lost $1200 for the final trade in - jeez, the used ones cost more than the new ones! Maybe having cash helps.

[Dick Bachert]

UPDATER: Chrissie Dudd left congress in 2010 in order to devote full time to his search for those elusive Countrywide mortgage documents. We're certain, however, that Bawney Fwank is fully up to the job.

[RetiredTexasVet]

Why not have the people living in the houses pay for them or leave. I know this is a novel idea, way beyond what any progressive could imagine, but it seems workable and would cost the government nothing.

[denydenydeny]

This is always the electoral advantage that the Democrats have: Starting out as the Free S**t For Everyone party gives them a very large base of supporters from the very first. It’s hard fighting the Free S**t For Everyone Party.

Obama will spend trillions to try to buy the election. That’s the danger.

[Tench_Coxe]

Moral of the story: It’s time for those who have played by the rules to stop playing by them. The livelihood of these scum depends on enough people being “law abiding” while the scum milk them to exhaustion. Note to libs: It’s not “hate” or “racism” you’re seeing out there, it’s righteous anger. And woe to those who keep “poking the bear”.

[Palter]

Well, I caught one of the guys on the radio who was working on this behind the scenes.

Here is his plan, in the WSJ, and a interview on NPR[mp3]

[Mike Darancette]

We’re b-b-b-broke and this does not make jobs. Discriminates against people that didn’t use government loans.

[jennychase]

Keep digging hole.

[PUGACHEV]

If the refinancing program were targeted at those not delinquent on their loans, but who are presently barred from refinancing because their homes are more than 125% underwater, I don't see how we could could loose on this. It would be a win/win. Remember, these are homeowners who are current, if they can afford a higher than market rate mortgage, there is little risk of their defaulting when the government guarantees a loan at a lower rate. The lower mortgage payment would mean (1) more tax revenue because there is less interest paid to deduct, (2) more spendable/savable income in the hands of the homeowner, and (3) if the loan is already insured by the government, a greater probability that it will not go into default later.