Obama Administration Expands Aid for Delinquent U.S. Homeowners
January 28, 2012
The Obama administration, seeking to help more homeowners lower their interest rates and shed mortgage debt, will relax the rules on a federal loan- modification program and triple its incentives to banks.
The revised Home Affordable Modification Program, or HAMP, also would pay Fannie Mae and Freddie Mac to forgive debt on homes that have lost value. The government-owned companies, citing cost, don’t reduce principal, a policy that has limited HAMP’s reach because they own or guarantee nearly half of U.S. home loans.
Housing and Urban Development Secretary Shaun Donovan, Assistant Treasury Secretary Tim Massad, and White House National Economic Council Director Gene Sperling announced the program changes yesterday in a phone call with reporters.
“This will expand the reach of HAMP,” Massad said.
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This entry was posted in Uncategorized and tagged administration, deliquent, Fannie Mae, Freddie Mac, HAMP, homeowners, loan modification, mortgage, Obama. Bookmark the permalink.
Didn’t he say he was going to lower the interest rate for all home owners that were actually making their house payment, not the slimbuckets that are sitting in their homes for almost 1.5 years not making a house payment only in the end to get a check for $5K because they didn’t wreck the place. It’s called cash for keys.
If You’re an American you should see THIS! for real
Speaker Rep.Tim Ryan (D) Ohio ..
http://www.youtube.com/watch?v=-yHrwLq-LdQ&feature=related
obamas Familiar Rhetoric, Failed Record
http://www.youtube.com/watch?v=UDDRiGIUYQo&feature=related
Barack Obama locked out of White House
http://www.youtube.com/watch?feature=endscreen&v=-ZNAVgOJDd8&NR=1
My son’s next door neighbor is here illegally, Been here for 10 yrs now.. wont drive his car in fear he’ll be pulled over and sent back to mexico his green card has expired years ago, But he has 3 kids and his wife here with him,, Collecting Food stamps, Merdicare,,Has a job working 7 days a week in a factory,, THE SAME PLACE MY SON WAS LAID OFF FROM back in sept of 2011,, And the illegal neighbor still working at same factory.. And WE are Americans..My family has roots in this country for OVER 100 years..Whats WRONG with this picture…?????
it all stinks obamism, Floyd. With all of al obumbles little rules, our agents have their hands tied, he’s after the votes, Floyd!
And, obummer wants amnesty for millions more. There is a lot wrong with this picture! The honest guy gets the shaft under this admimnistration and we all pay. With the Chicago crooks behind this arrogant liar, we probably will have him and his crooks for four more. Don’t forget to vote.
So does Newt Gingrich
Gingrich opens door for illegal immigrants
http://www.washingtontimes.com/news/2012/jan/25/romney-gingrich-flip-flopper-self-deportation/
nvrpc – why would you ever call your fellow Americans who are having financial problems “slimbuckets”?
Here we go, buying more votes with other people’s money! This man is utterly corrupt, evil and mad.
Obama off Georgia ballot? http://www.linkn.co/22DeN6
with any luck he will be off the ballot in more states before long.of course he still has california,pelosi won’t let them vote for anyone else,no matter how insolvent they get.
This program is meant to buy the votes of people with mortgage problems. Freddie and Fannie are already in deep, deep debt.
Obama and the Dems buying votes . . .and gladly shifting the cost to their grandchildren.
This is the same a stealing from children.
Only scumbags would do this.
And, the dummicrats say there isn’t any voter fraud and that we are wrong to require voter ID.
Listen to this Obama supporter.
http://www.youtube.com/watch?v=Ob57Z6lNapg&feature=related
And guess what he was never prosecuted because he was black and a brotha, Get used to it. Why? Because you let them and gave them EQUAL rights and welfare for 50 years with no incentive to get off their a-sses and go to work. Again. Obama is going to walk the dog on the republicans and has most of the nation in his pocket. You have no one running against him that can compare.
Eeeehaaa! Let’s throw all them slimbuckets out of their houses. Heck, if they can’t pay they need to be out on the street with the rest of the bums, and since that would put their children in danger the state can take them away from their parents and put those rotten kids in foster homes where the foster parents can collect even more money from the government to abuse those kids, YEA!!! baby. Oh and let’s not forget those pyscotrophic drugs the government likes to give to kids and while we are at it we could steralize all those kids to because they come from bad genes.
Ole Margret Sanger is throwing a party in her grave right now, I am sure of it.
I really think that some people don’t see the gravity of the situation. Just because the government is try to help some of these folks with their housing situation doesn’t mean that they will vote for Obama. They will not vote for a government that put them in this crisis in the first place no matter how much the government tries to correct the problem they created. I think we will see the oppisite, but that doesn’t mean that the government should stop trying to correct a problem they created.
We can not fault those people for a crisis the government created, we must fault the rightful owners of the housing crisis and that’s the government.
So vote everyone of them out of office and vote Ron Paul this November. He is the only one that has consitently voted per Constitution and if the rest of them had done the same we wouldn’t be in the situation we find ourselfs in today. The housing problem would have been a state issue if they would have done the right thing.
Ron Paul 2012!!!
Vote against Obama no matter who it is.
David I’ll go for that,anybody but obama.we can weed out the trash & rino’s later.
Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years.
No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape.
He will be remembered as having cultivated such valuable lessons as:
● Knowing when to come in out of the rain;
● Why the early bird gets the worm;
● Life isn’t always fair;
● and maybe it was my fault.
Common Sense lived by simple, sound financial policies (don’t spend more than you can earn) and reliable strategies
(adults, not children, are in charge).
His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.
Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.
It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion..
Common Sense lost the will to live when criminals received better treatment than their victims.
Common Sense took a beating when you couldn’t defend yourself from a burglar in your own home and the burglar could sue you for assault.
Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.
Common Sense was preceded in death, by his parents, Truth and Trust, by his wife, Discretion, by his daughter, Responsibility, and by his son, Reason.
He is survived by his 4 stepbrothers;
● I Know My Rights
● I Want It Now
● Someone Else Is To Blame
● I’m A Victim
Not many attended his funeral because so few realized he was gone. If you still remember him, pass this on. If not, join the majority and do nothing.
Raymond this is soooo true and accurite in its simplicity,as is life.could you please do me the huge facor of sending this to my e-mail address thehomeservice3@yahoo.com so i can share it with others.Do you think that our education system has contributed to common senses demise ?.
Just cut & paste what you want.
Raymond
Dr.Ron Paul 2012 !!!
This is so STUPID!!!!!! What in the hell is Obama doing?????? For the most part, we all lost money in our homes because of this man and this Congress! This is not the time to continue to spend money that we have to borrow in the first place.
There were and are people that had no business buying homes that they could not afford. Then they sit in them and not make any payments for 1 to 2 years and then they expect the American taxpayers to bail them out! NO WAY!!!!!
Slick Willie Clinton set the housing crisis in motion by proposing loans to people who had no way to repay, Bush is at fault for not halting it and obozo found a communists dream to continue it and expand it via acorn, et al.
More votes for Obama, more debt for all.
Barrack Obama is the most selfserving present we have ever had. He will do anything for vote regaurless of the damage he does to the country. This is just more foolishness, but minor compared to his standing in the road of the XL Keytone Pipeline that would be good for all of theCountry and the American people. What he is doing with the XL Keystone Pipeline is worse than what Iran is doing in the Straighs. If I were to say more, all of which is the truth I know that my comment would not published. Stand up America befor it to late.
Obama throwing crumbs to the Pigeons is ‘for the birds’.
SQUAB FOR DINNER
How can obozo do things like this without the approval of Congress?
What is going on here; he’s buying votes with our money; where does he think he is, this is not a fantasy where it rains money and all our wishes are granted, the inability to pay on a loan is dealt with by the bank taking the property and reconditioning the house (a burden on the bank)hoping to get market value but the property is most likely sold just to get some money coming in and over time recoup the costs; this is over 30 years and not the year after Obama gave away the farm. The concept of putting someone in a home he can’t afford is obvious to all not wearing the rose colored glass’s he is buying votes and hoped it would go away over the next 3 years when he goes for the next election; he’s buying votes as we speak, that is what is going on now. When they throw him out of this country there will be a huge crowd just wanting to see it with their own eye’s he is gone for good.
All these people not honoring the contract they signed need to down size to what they can afford.