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The Obama Administration considers expanding its mortgage-refinance program to include those...

Wednesday, December 26, 2012, 7:10 AM ET
The Obama Administration considers expanding its mortgage-refinance program to include those loans not held by the GSE's. Fannie and Freddie back just 50% of the nation's mortgages, leaving a big chunk of the 10.8M underwater mortgage loans not qualified for the HAMP. What happened to weaning the nation off of public mortgage finance?

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This news story has 40 comments:

7footMoose Comments (2242)

This Administration is using the government dole as a narcotic to lure those who suffered most under the last recession into giving over the last shred of their personal responsibility to the Democratic Party. Hear the chant, "We are the nanny state".

26 Dec 2012, 07:15 AM Reply Like

Remyngton Comments (339)

It's so true

welfare checks
food stamps
section 8 housing
Medicaid

$1 trillion for the moochers ... and don't forget the Obama phones !!!

26 Dec 2012, 08:15 AM Reply Like

mjc99 Comments (46)

Yes, and the previous Republican administration was different, plugging the medicare doughnuthole, etc., etc., etc.

26 Dec 2012, 08:34 AM Reply Like

Hubert Biagi Comments (618)

Yep, but unfortunately, over the years, the democrats have proven to be much better at buying votes. They've had to, ever since the North forced abolition and then civil rights onto southern democrats. This latest bout of democratic social engineering, the Affordable Healthcare Act, follows in the footsteps of the Community Reinvest Act, the War on Poverty, the Great Society, and the New Deal. All aimed at converting blacks and minorities from republican to democrat. In the words of Rahm Emanuel, the democrats never let "a serious crisis go to waste".

26 Dec 2012, 10:03 AM Reply Like

marketwatcher23 Comments (817)

Somewhere out there Democrats and Republicans are laughing and rejoicing at how people still think there is a red team and a blue team.

"Politicians were put there to make you think you have a choice. You have no choice. You have owners"

George Carlin

26 Dec 2012, 10:06 AM Reply Like

convoluted Comments (1234)

What is an obama phone? I've noticed others mention the same thing.

26 Dec 2012, 01:12 PM Reply Like

jhooper Comments (4666)

This was the video that started the "Obamaphone" phrase. These were paid protestors being interviewed.

http://bit.ly/UyuSSL

26 Dec 2012, 02:09 PM Reply Like

Rookie IRA Investor Comments (2494)

I think some people on food stamps or disability benefits are given cheap cell phones free of charge primarily so that they can communicate with the benefits offices (and vice versa), although no doubt they can also call their stock brokers or the pay lines of fortune tellers. The cost to the government is probably very little compared to the overall cost of benefits.

http://bit.ly/11Xhmh4

26 Dec 2012, 02:30 PM Reply Like

convoluted Comments (1234)

So, if I had an obama phone, I could call you in the Dominican Republic, wake you from a pool-side nap, get stock advice, all while listening to the sounds of steel drums and Marley in the background?
Well, as Tiny Tim proclaimed, "God bless us one and all."

26 Dec 2012, 02:44 PM Reply Like

kcr357 Comments (509)

The "free" phone program is funded by that dollar charge at the bottom of your phone bill each month fwiw.

26 Dec 2012, 02:45 PM Reply Like

convoluted Comments (1234)

Thanks for the enlightenment-I think.

26 Dec 2012, 02:51 PM Reply Like

Rookie IRA Investor Comments (2494)

Probably bachata or merengue, but you would need to pay another service such as Tel3 for the international cell-to-cell calling minutes that would not be included. Or just pick up an international calling card at your local Mexican convenience store.

http://www.tel3.com

26 Dec 2012, 02:59 PM Reply Like

jhooper Comments (4666)

"although no doubt they can also call their stock brokers or the pay lines of fortune tellers"

Or arrange drug deals.

26 Dec 2012, 04:06 PM Reply Like

marketman54 Comments (823)

Hey you forgot Tarp 1,2 and 3, QE 1,2, and 3, Operation twist 1 and 2, Sallie Mae......School breakfast, lunch and dinner programs, Job training programs, ............

You'll never get them off the titty!!

26 Dec 2012, 06:20 PM Reply Like

Rookie IRA Investor Comments (2494)

Or call for an ambulance if they overdose!

27 Dec 2012, 10:32 AM Reply Like

Bret Jensen Comments (6757)

Isn't the election over, do we really need to keep buying votes from deadbeats? We may want to tackle those $1T deficits..............oh no, let's leave that to the poor sap that has to clean up this mess in 2016.

26 Dec 2012, 07:16 AM Reply Like

jhooper Comments (4666)

Its not just about votes anymore. Its about transforming the country now. In Obama's mind, he's in the movie "Dave". He believes he is a nice guy that has replaced the mean guy, and now his niceness is going to lead the whole country to a new order of niceness. There will be no more wealthy people, except for the "right" people in gov (like the President) and for those that are needed to finance campaigns (like GE or Buffet). In short, it will be a new aristocracy, where only those with access to coercion (gov guns) get to have wealth, and the rest will be a class of peasants. The whole country will eventually be one big plantation where the vast swath of the populace labor at things they hate, live in conditions they hate, so they can pass the fruits of their labor to those that hold the chains and the guns. The ironic thing is that it took someone like Obama to bring back the plantation.

26 Dec 2012, 10:24 AM Reply Like

Rookie IRA Investor Comments (2494)

Who's been watching Fox News, then?

27 Dec 2012, 10:33 AM Reply Like

jhooper Comments (4666)

Or just listening to NPR.

27 Dec 2012, 11:15 AM Reply Like

davidingeorgia Comments (2690)

>>What happened to weaning the nation off of public mortgage finance?<<

This administration isn't interested in weaning anyone off of anything the federal government does. More people dependent on the feds = more people who will vote to keep getting checks (paid for with other people's money) every election. It's about creating more addicts, not fewer.

26 Dec 2012, 07:23 AM Reply Like

marketwatcher23 Comments (817)

Screw you guys I want my refi. I've been boxed out because I don't qualify because I have a conventional mortgage because I was NOT a deadbeat and put down 20% and have never missed a payment. I am not a federal employee so I am not ripping off the public with a 100k pension and free healthcare. I don't work on wall street so I don't rip off the public with my taxpayer funded bailouts. If I have to deal with ZIRP at least let me refi.

26 Dec 2012, 07:24 AM Reply Like

moneyTalksBSWalks Comments (169)

You can't get a HAMP refi if you aren't in default so presumably you will do a strategic default to get a HAMP mod?

26 Dec 2012, 09:37 AM Reply Like

marketwatcher23 Comments (817)

I don't care if I get a HAMP Refi, a HUMP refi or a HIMP refi. Take my loan and streamline it so I get 3.75% like the deadbeats. You pick the name of the program.

26 Dec 2012, 09:50 AM Reply Like

moneyTalksBSWalks Comments (169)

There is no reason you cannot get a refi if you have good credit and no defaults. I refinanced a few mos back at 2.25%. I hear you loud and clear, I am equally mad at the bending over backwards for deadbeats while the rest of us responsible ones get the middle finger. But the trend is clear, the responsible ones have been selected to underwrite the dead beats.

26 Dec 2012, 01:29 PM Reply Like

Edaugh Comments (52)

Actually, there is a reason. Its called negative equity. So, as another poster so eloquently stated, screw you. I want my refi.

26 Dec 2012, 03:28 PM Reply Like

The Hammer Comments (2986)

u were one of the idiots that bought into housing going up forever. go get a loan from the nar. blame them stop be a freaken moocher!

26 Dec 2012, 04:58 PM Reply Like

marketwatcher23 Comments (817)

Thanks for telling me why I bought a house hammer. I thought I needed a residence for my family but all along I secretely thought housing would go up forever and you just outed me. Either way GIVE ME MY REFI AND NOW I WANT AN OBAMA FONE TOO!

26 Dec 2012, 06:02 PM Reply Like

The Hammer Comments (2986)

a good depression (cleansing--attitude changer) is what this country really needs. then just maybe people would give a damn about the country not themselves at everyone elses expense.no f'n shame today.
the end game is when there are no more freebies. govt bust. it's coming boy.

26 Dec 2012, 07:28 PM Reply Like

marketwatcher23 Comments (817)

The end game is when you send Corzine to jail and people learn their actions have consequences. Until then refi me all the way to hyperinflation.

26 Dec 2012, 10:02 PM Reply Like

moneyTalksBSWalks Comments (169)

Screwing ain't gonna get you a refi(but don't we all wish it did!) And neither is that attitude. Grow a pair and stop whining or pitch a tent across the White House and whine till Geithner/Obama create a program for you. In the mean time you might also want to read up on how these programs work. Negative equity will disqualify you from most mod prorams. Sheesh!

27 Dec 2012, 12:51 PM Reply Like

moneyTalksBSWalks Comments (169)

Here's a way to get a hamp refi. Get fired from your job and default on your payments. Voila! You will become eligible. Be sure though to read up on the different mod programs before you do so and check their eligibility criteria. Again screwing is a poor substitute for being better educated on how to qualify for a hamp refi.

27 Dec 2012, 12:55 PM Reply Like

marketwatcher23 Comments (817)

Negative equity will diqualify you unless you are a deabeat, at which point you will get rewarded. That is what I am upset about you imbecile. Grow a pair? I pay my taxes and have no debt and do things the right way. Go focus your time on the deadbeats and stop the programs from rewarding them and you will stop seeing good citizens like me getting pissed off.

FREE JON CORZINE

27 Dec 2012, 09:57 PM Reply Like

marketwatcher23 Comments (817)

Stick your hamp refi where the sun don't shine. You miss the point entirely.

27 Dec 2012, 09:58 PM Reply Like

see punjabi Comments (257)

Marketwatcher23,
Well said my friend. Not everybody was able to refinance because of the limitations even though we never missed our monthly payments.

26 Dec 2012, 07:33 AM Reply Like