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Roanoke Times, 10-25-11, Pg 1, 4: Obama eases refinancing rules. Big warm snugly picture of Obama hugging Las Vegas homeowner.
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Obama is offering, at taxpayer’s expense, another offer for homeowners whose mortgages are greater than their current home appraised value. Supposedly it’s only available to those who are current with their mortgage payments.
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Why are “we” doing this? This basic Obama program, HARP, has been in effect since 2009 and has been a failure. Redo HARP, redo Stimulus, and redo Failure! How is this going to help the jobs situation or the over-supply of homes or the flood of foreclosures still sweeping the country?
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Of all the obnoxious housing situations are those who haven’t paid their mortgage “for years” and are still in the house and are using what should be the mortgage payments to buy stuff! Just like those who use public assistance to buy booze, drugs and stuff.
Why aren’t these people out of the house and into a rental unit thereby allowing the house to be purchased by new folks? No wonder consumer spending is up; yours would be up too if you were buying stuff instead of paying your mortgage.
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Perhaps Obama will soon offer this same deal to GM car buyers. Almost every new car purchased with financing is “upside-down” on the loan vs. bluebook value the minute it leaves the lot!
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Obama and his administration continue to be both a disappointment and an embarrassment to those who voted for “Hope and Change”! Talk about voter remorse!
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Helpful Suggestion: Tell Reid to pass the Congressional Jobs Bills that's sitting on his desk:
http://roanokeslant.blogspot.com/2011/10/obama-campaigner-and-manipulator-in.html
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http://roanokeslant.blogspot.com/2011/10/obama-visiting-danville-just-before-he.html
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