and America takes another one in the........
Posted on 08/14/2010 8:10:14 PM PDT by SeekAndFind
and America takes another one in the........
How are these loans gonna help? I do real estate, just had two short sales go to forclosure. They are both better off than saddled with another $50,000
“It will provide homeowners with emergency zero-interest rate loans of up to $50,000 for up to two years.”
But, ya gotta be BLACK......”redistribution”, ya know.....
How are unemployed homeowners going to pay back a loan?
They are not going to be able to. This is a banker's game to fleece the taxpayer once again.
This has to be the dumbest solution I have ever ever heard? People who are in debt with no job...GET MORE DEBT? Why am I surprised..that’s the only solution the government knows. Is there anyone, anyone who can stop these morons?
What happens when you reward failure and punish success?
Obama should be put in prison for this, it’s grand theft from everyone that honors their financial obligations!!!
....and then in another yr of nonpayments, all loans will be forgiven and you can then apply for another loan as long as your income is lower than $2,145.....for a family of 4.
The liberal DUmmies won’t even grasp that 0bama is giving away handouts to homeowners while leaving renters who can’t pay their rent out on the streets.
“Thank You Sir, May I Have Another?!”
Well look at it this way, 2 years from now they can blame all of the forclosures on those dastardly republicans in Congress!
There is no amount of money you can give my brother in law that he can’t lose within the year.
If someone can’t pay the original loan how does another 50 thou in debt help them?
This admin is full of idiots.
•The existing home sales report will show that sales collapsed in July (this is showing up in all the regional reports).
•The existing home months-of-supply will jump to double digits.
•House prices are probably falling again, although this might not show up in the repeat sales indexes until September or October (this data is released with a lag).
•On August 27th, the second estimate of Q2 GDP will be released. This will probably show a significant downward revision from the preliminary estimate of 2.4% annualized growth. The downward revision is due to lower construction spending than the BEA initially estimated, less contribution from inventory adjustments, and the June surge in exports.
•The unemployment rate will probably start ticking up again soon (or the participation rate will fall further).
With the end of the housing tax credit, calculated risk blogger also (good source) expects residential construction employment to decline further over the next few months.
Elsewhere in Europe and Asia- Germany Economy Expands Most Since Reunification [Singapore On Course For Record Growth] Thailand, Malaysia, Singapore and Vietnam should not be overlooked by investors looking to cash in on the recovery in the Far East.
In Singapore the economy is reported on course for record-breaking growth of up to 15pc for the year. And there are a host of rivals hot on its heels to be the shining star of Asia.
Across the border in Malaysia economic growth of close to 7pc is predicted this year followed by Indonesia at 6.6pc. South Korea and the Philippine's are both on course to hit 6pc growth in 2010
“It will provide homeowners with emergency zero-interest rate loans of up to $50,000 for up to two years.”
But, ya gotta be BLACK......”redistribution”, ya know....”
Exactly and if that is not bad enough ,Go in any Government office all black!
Insert tirade composed almost entirely of expletives here.
I’m curious to know if Carl Greene, Philadelphia Housing Chief, is planning to get one of these loans after he recently went into foreclosure for not making mortgage payments. This guy makes over 300 K year.
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