Posted on 02/22/2009 7:06:25 PM PST by 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.
(Excerpt) Read more at cnn.com ...
hitlerious!! lol
this is why Obama’s minions are now pushing “energy independence” with a collectivism anti property rights twist.
Poedesta is in the newseum pushing this socialist CNBC is exercising journaistic malpractice this am by being mouthpieces for the left.
The hairstyle woman in the middle is being used in her usual irrelivant bimbo capacity to promote whatever the wh daily talking point is desired.
ONLY deadbeats will EVER benefit from Fed.gov “initiatives”!
The socialist-fascist-commie usurper Oboooombi is bound & determined to slam his socialist, wealth re-distribution schemes down the throats of the American people, including his reparations scam under the falsely titled Stimulus Bill, which is an outright set of lies.
Obooombie the commie has got to be stopped from destroying & bankrupting our country. I am more convinced than ever that he will have no issue or qualms in seeing Amerika end up looking like devastated, socialist cess pool Zimbabwe (formerly Rhodesia, the crown jewel & bread basket of Africa).
Yeah, I love it... LOL...
There was a clip on CNN the other day. Some woman, who worked as a bus driver, and her husband had an $800,000 mortgage. Will this be Obama's definition of a 'responsible' borrower?
I just saw your response!
So sorry to be so long in reply..
He made the payments on the primary as long as he could...
He could refi though, even under the bailout terms because his income is in building..and as such, he has no income unless the remodel sells..(which, it ain’t gonna..at least at a price sufficient to pay the loan)..
Thus, he’s now filed for early SS (which won’t begin to cover the house payment on either house)...
The primary house is gone (and I mean turn off the lights..gone)
They’re temporarily living in the remodel and trying to find “someone” who can buy the house on a short sale and then possibly agree to rent it back to them.
He’s working his behind off to try to get into some kind of job having to do with this housing crisis.
For example, the banks need people to be able to assess (for repair not real estate assessment) these zillions of houses they are foreclosing on...and he is just the right guy for that..
His background is in building/remodeling/lumber company stuff...so, he doesn’t have large market to apply in currently.
He’ll get something eventually, but, it’s awful to see your dad struggle with something like this.
Their primary house was their nest-egg..
They planned to sell it in a few years..take the profits and buy something outright (like a condo)...and live on their SS..
(Which isn’t much..but, is enough if you have no rent/house payment)..
So..that’s the scoop.
I want to thank you for taking the time to reply..
!!!
FReepers are great!
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