Obama Considers Halting All Home Foreclosures! Too Little too late again!


Now why didn’t bungling Obama do this before & also fund it with some of the “Stimulus Money” ?
Contrary to popular belief, even after the CASH FOR CLUNKERS that many took part in, including some that should not have participated. There is still quite a lot of that cash that has not been distributed and should be returned to the Treasury! But “Consideration of Halting All Foreclosures” ? If he has the power to do so, he already let many individuals down. I don’t mean the ones that bought a very expensive home for the sake of owning a very expensive home knowing that they could not eventually afford it, but the frugal ones were/are trying to live the “American Dream” if you will & have the rug pulled from under them because of the market conditions, etc. etc. Not to make government larger either because the programs have been in place with Fannie & Freddie for years.
We all know Bo, Barry, Barrack or whatever you call yourself! You are a one term president and it is up to the Senate & Congress to minimize the damage that you have done & still will or could do!
Where do you get off all of a sudden pulling a stunt like this when you could have saved so many from this upheaval? No folks, it didn’t happen to this writer, but it still steams me that he chooses to close the barn door after the horse is out and try to grandstand. Just more spending & too little too late! But hey, that’s Bo!
Story below…..

Obama Considers Halting All Home Foreclosures
Friday, 26 Feb 2010
By: Frank McGuire

President Barack Obama reportedly is considering stopping all home foreclosures unless they have been rejected by the administration’s struggling $75 billion mortgage assistance program.

The move comes as Republicans take aim at Obama’s mortgage assistance program. Republicans argue the effort is making the economic crisis worse and say many homeowners would be better off as renters.

The president has been trying to convince investors and the general public that the country is slowly emerging from the recession, but the threat of foreclosures and a faltering housing recovery has been looming over the economy.

Meg Reilly, a Treasury Department spokeswoman, told Bloomberg that the proposed foreclosure ban was “one of the many ideas under consideration” in Obama’s attempt to stabilize the housing market.

“This proposal has not been approved and there are no immediate planned announcements on the issue,” she wrote in an e-mail. She confirmed the authenticity of the plan, which hasn’t been made public, Bloomberg reported.

Right now, lenders can initiate foreclosure proceedings on any loan that hasn’t been submitted for Home Affordable Modification Program, or HAMP, eligibility. Under current rules, foreclosure litigation can proceed while borrowers are under review for the program or even in a trial modification.

The proposed changes would prohibit lenders from initiating new foreclosure actions before loan screening by HAMP and would require lenders to halt existing proceedings for borrowers once they are in a trial repayment plan, Bloomberg reported.

Meanwhile, Reps. Darrell Issa, R-Calif. and Jim Jordan, R-Ohio., on Thursday called the program a misuse of taxpayer money, The Associated Press reported. Though $75 billion has been set aside for the program, so far only $15 million has been spent.

The lawmakers also said Obama’s plan distorts the housing market by keeping people in their homes who would be better off going through foreclosure.

Homeowners who enroll in the program but then drop out “would have been better off if they had defaulted earlier and spent the payments on more affordable housing options,” the two lawmakers wrote.

Obama administration officials, however, reject that argument. They say the program gives a second chance to homeowners who were given shoddy loans during the housing boom.

And they defend their track record, even though only 116,000 homeowners have completed the process out of the 1 million enrolled since the program’s launch last March.

Earlier this week, Freddie Mac, which has lost a total of almost $80 billion since the housing crisis started in 2007, said a record 4 percent of its borrowers are at least three months behind on their payments and facing foreclosure.

Freddie Mac Chief Executive Charles Haldeman warned a “potential large wave of foreclosures” may sweep the nation.

The faltering housing recovery and threat of foreclosures are major problems for the federal government, which seized control of Freddie Mac and Fannie Mae in September 2008. The two companies have already siphoned $111 billion from the government to stay afloat. That number is expected to hit $188 billion by fall 2011.

Meanwhile, the Obama administration reportedly also is considering forcing lenders to make principal reductions to help struggling homeowners.

Asked about the possibility of using principal reductions on mortgages to stem the tide of foreclosures, Phyllis Caldwell, chief of the Treasury’s Homeownership Preservation Office, said the department was open to the idea, Reuters reported.

“Our office has been aggressively considering proposals on all areas that we can do to address the foreclosure crisis in this country,” Caldwell told lawmakers on the House Oversight and Government Reform Domestic Policy Subcommittee.

Advertisements

BORN IN THE USA?


BORN IN THE USA?

March on Washington to tell president to quit
‘It is time to motivate the citizens of U.S. to expose ‘hoax’ of Obama’

By Bob Unruh
© 2010 WorldNetDaily

Organizers of a new march on Washington are offering Americans the opportunity to show President Obama their birth certificates and declare that unless he produces documentation of his eligibility to occupy the Oval Office, he should quit.

The event is headed by Philip Berg, the first to bring court challenges to Obama’s eligibility under the U.S. Constitution’s requirement that presidents be a “natural born citizen.”

While a number of cases, including several of his own, remain pending, Berg told WND today the issue needs to be pressed.

“Since the courts are taking their time to get to the point of allowing ‘discovery,’ it is time to motivate the citizens of the United States for a ‘peaceful revolution’ to expose the ‘hoax’ of Obama, the biggest ‘hoax’ in the history of our country, in over 230 years,” he said.

Berg, who publicizes his cases through his ObamaCrimes.com website, said the planned “Birth Certificate March on Washington” will demand Obama resign.

Come on Bo, show it to us or do a Richard Nixon!
Next step will be the impeachment process which will either force you to do so or as the process states…be impeached

The Exodus….Has it begun? Is Harry Next?


The Exodus….Has it begun? Sure hope so! Could we see the Obama regime begining to crumble under the pressure of THE PEOPLE? Have they now realized that the American People won’t re-elect these moronic politicians? What took them so long,?
I guess some have begun to realize their HIGH is over. The HIGH being the intoxication of Corruption.
It is so intoxicating that it is similar to drug addict getting their daily due.

There are some that can & do resist it where others will bask in it which seem to be the general consensus as of late! Where or when will it end? Only when WE THE PEOPLE stop raising our voices that we are “SICK & TIRED” of Washington.

CHANGE? What CHANGE did we get? Things have just gotten worse because people voted with their heart & not their head. VOTE FOR THE CHANGE that is desperately needed in Washington. The change that will get rid of the daily addict & elect “doers” for the people. Not someone who has his own agenda, but the agenda of people who vote them into office & stick to the FRAMERS intent. Many will disagree but the most dynamic “doer” (and not dynamic duo folks) for THE PEOPLE was the Ronald Reagan, followed by Herbert Hoover, Harry Truman & Franklin Roosevelt.

There will never be another of the above mentioned but there can be a “good imitation” if the politicians would structure/model themselves around these individuals by simply asking themselves if what they want for they people is the same as what “WORKED” for the aforementioned Presidents.

This means PARTIES no longer have the HUGE DIFFERENCES because personal agenda’s would not be a factor.

Let’s not fool ourselves though! In a real world this will never be a reality because we keep making the same mistake OVER & OVER & OVER AGAIN by electing idiots that have taken us away from the FRAMERS INTENT.

Things were better when we were MUCH closer to the Framers Intent, but some how WE THE PEOPLE are too dim-witted to realize it!
We would rather put up with radical behavior from Mich & Bo. WE would rather be called mean spirited & let BO tell the world that we are sorry! We’re not sorry for being Americans! Are the Russians sorry for being Russian?
Are the Chinese sorry for being Chinese? That’s what makes us Americans Bo….something you know nothing about! What does that make you Bo?????? Certainly you cannot say you are not anti-American when you go around portaying us as something we’re not. We are & will be Americans whether you like it or NOT!

When will we THE PEOPLE begin to learn from our mistakes? Or will we do the same “brainless” things again when it comes to the political process!
Oh, Barry…. that will be soon & people do not like YOU because as one Senator said “YOU LIE.”

So go back to your Chicago with you friends & slum lords. Come to think of it…..doesn’t that seem to look like what you’re trying to do to the entire United States?

Why don’t you go back to Chicago now & lose yourself in the projects! It will do you good. Maybe even change your perspective a little.
You could even plant that Nobel Prize next to one of the trees for what it’s worth or you give it to someone who deserves it!

The Armed Forces of The United States fits that bill! Give it up to them Bo!