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Chatter about an Obama plan for mass mortgage refinancings heats up again, with speculation the...

Chatter about an Obama plan for mass mortgage refinancings heats up again, with speculation the President might appoint a "housing advocate" as head of the FHFA, whose current chief has been lukewarm about such an operation. The administration could get their "own man" in there without Senate approval using the same sort of recess appointment just used to install the head of the CFPB.
Comments (23)
  • phxcrane
    , contributor
    Comments (415) | Send Message
     
    Start the impeachment now.
    5 Jan 2012, 01:03 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (689) | Send Message
     
    So the treasury would take on these mortgages? Who will make the banks whole?
    5 Jan 2012, 01:15 PM Reply Like
  • SoldHigh
    , contributor
    Comments (999) | Send Message
     
    Our Dear Leader' has proven that he isn't about to let that pesky little thing we call 'The Constitution' or the rule of law get in the way of his anti-business, anti-Middle Class agenda.
    5 Jan 2012, 01:16 PM Reply Like
  • acesfull
    , contributor
    Comments (314) | Send Message
     
    If he can appoint a house advocate to collect money from banking institutions so as to do a fovor for some people who can't or won't pay back their loans, he may as well appoint a house advocate to force Dairy Queen to give out free dilly bars on mondays and fridays. I personally like dilly bars. In addition to making me happy, it could also serve a secondary function of redistributing the wealth. What's not to like? At this rate, the Messiah will have all of us walking on water before the end of the year. Don't forget to vote democratic in November.
    5 Jan 2012, 01:19 PM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    Why just 2 days on the Dilly Bar? Your thinking like a Republican. A Democrat would make it 7 days!!!
    5 Jan 2012, 01:28 PM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    Get rid of Congress. Put the money towards the deficit.
    Bo can handle it all.
    5 Jan 2012, 01:19 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    This will be good for economy. Hones people who have underwater mortgages will save lot of money every month. Please do it before evil republican congress comes back.
    5 Jan 2012, 01:20 PM Reply Like
  • AlMac2526
    , contributor
    Comments (6) | Send Message
     
    Agree with phxcrane!! This guy has to go.
    5 Jan 2012, 01:37 PM Reply Like
  • serndipity
    , contributor
    Comments (193) | Send Message
     
    Other than being current, it would impose no other qualification or application, except for the intention to accept the new rate (that is, no appraisal, no income verification, no tax returns, etc.).

     

    Didn’t this cause the last meltdown?

     

    If only taxpayers were willing to shoulder the burden of more short-term bailouts
    5 Jan 2012, 01:39 PM Reply Like
  • Buckoux
    , contributor
    Comments (5830) | Send Message
     
    "Didn’t this cause the last meltdown?"

     

    Yes. It's "deja-vue all over again". (sigh).
    5 Jan 2012, 01:48 PM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    I recently asked my friends' little girl what she wanted to be when she grows up. She said she wanted to be President of the United States. Both of her parents, liberal Democrats, were standing there. So I asked her, "If you were President, what would be the first thing you would do?" She replied, "I'd give food and houses to all the homeless people...

     

    Her parents proudly beamed. "Wow...what a worthy goal," I told her. "But you don't have to wait until you're President to do that. Tell you what - you can come over to my house and mow the lawn, pull weeds, and sweep my driveway, and I'll pay you $50. Then I'll take you over to the grocery store where the homeless guy hangs out, and you can give him the $50 to use toward food and a new house. How about doing something wonderful like that?"

     

    She thought that over for a few seconds, then she looked me straight in the eye and asked, "Why doesn't the homeless guy come over and do the work, and you can just pay him the $50?"

     

    I said, "Welcome to the Republican Party."

     

    Her parents still aren't speaking to me.
    5 Jan 2012, 01:57 PM Reply Like
  • serndipity
    , contributor
    Comments (193) | Send Message
     
    Why don't we just telling every kid that "anyone can grow up and become President of the United States"?
    5 Jan 2012, 02:08 PM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    Since I received 4 likes on my above comment I will try to push the envelope once again.....
    A doctor from Israel says:
    "In Israel the medicine is so advanced that
    we cut off a man's testicles; we put them into another man, and
    in 6 weeks he is looking for work."
    The German doctor comments:
    "That's nothing, in Germany we
    take part of the brain out of a person;
    we put it into another person's head, and
    in 4 weeks he is looking for work."
    A Russian doctor says:
    "That's nothing either. In Russia we
    take out half of the heart from a person;
    we put it into another person's chest, and
    in 2 weeks he is looking for work."
    The U.S. doctor answers immediately:
    "That's nothing my colleagues,
    you are way behind us....in the USA, about 2 years ago,
    we grabbed a person from Kenya
    with no brains, no heart, and no balls....we made him
    President of the United States, and now.......
    the whole country is looking for work.

     

    .
    5 Jan 2012, 03:40 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    Serndipity....don't we do that in elementry school just after we sing the Obama song.
    5 Jan 2012, 04:47 PM Reply Like
  • mix
    , contributor
    Comments (84) | Send Message
     
    The White House already came out today and said this story is a myth and no such plans exist.
    5 Jan 2012, 04:34 PM Reply Like
  • Johann Galt
    , contributor
    Comments (235) | Send Message
     
    Which story- the mortgage story or Jackooo's medical story?

     

    Or did the White House deny both?
    5 Jan 2012, 04:47 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    And we are all supposed to believe the Whitehouse? Not on your life.
    5 Jan 2012, 04:48 PM Reply Like
  • mix
    , contributor
    Comments (84) | Send Message
     
    LOL. Here is the White House one:

     

    http://bit.ly/wkazMh

     

    I am pretty sure this was just a rumor to get bank stocks to move. I am betting on a whipsaw tomorrow, and the markets will be down overall as well.
    5 Jan 2012, 05:04 PM Reply Like
  • WMARKW
    , contributor
    Comments (10250) | Send Message
     
    "Mayer estimates that some $3.7 trillion of mortgages would be refinanced. That’s right, this would be the Mother of All Mortgage Refinancing Plans. It would help roughly 30 million borrowers save $75 billion to $80 billion a year. As Mayer puts it: “This plan would function like a long-­lasting tax cut for these 25 or 30 million American families.”"

     

    Hey, isn't this what it's all about any way. Socialize the risk....but dump it on the backs of those who are paying the majority of the taxes anyway.
    5 Jan 2012, 04:44 PM Reply Like
  • richardx
    , contributor
    Comments (122) | Send Message
     
    Why is Obama doing this?? At present in some states homeless are moving into abandoned homes and claiming them. It is legal and they do not have to pay anything. We are teaching people it is alright to steal anothers property which has been this Administration purpose from day 1. Wealth re distribution. They can lower the rate, they can extend the terms, they can eliminate front monies, they can do all sorts of tricks but they cannot make people without money BUY. When is this going to sink into this andmistration head?? Why should the taxpayers pick up this tab?? Why is this Administration looking forward to Romney? Be prepared to go further into debt mister and misses taxpayer.
    .
    6 Jan 2012, 09:01 AM Reply Like
  • mix
    , contributor
    Comments (84) | Send Message
     
    Total FUD.
    6 Jan 2012, 09:10 AM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    All kidding aside if the mortgages were to be refinanced it would be good for the country. I suggested this 3 yrs. ago when the clown took office.
    First of all less people would be declaring bankruptcy and moving out. Housing prices would stabilize faster.
    example: Now paying 8% mortgage and under H2O.
    Now paying 4% mortgage and under H2O.
    True it is under water but 4% lower in rate gives all pause to leave the abode. Eventually prices will rise. In the mean time approximately $400 a month is saved and can be spent on goods and services.
    This could be accomplished by establishing ONE Federal bank to buy all mortgages with the lower 4% rate.
    What happens to local banks? They either drop their rates to 4% or they do not get the business. They get more foreclosures.
    Trillions in bailouts were not needed if this was implemented in my humble opinion.
    6 Jan 2012, 11:33 AM Reply Like
  • jackooo
    , contributor
    Comments (1489) | Send Message
     
    Did you know every year this is the amount you the US taxpayer gave to the Rothschild family and their partners in crime that own the Federal Reserve?

     

    2011 $454,393,280,417.03

     

    $454,393,280,417 per year to the wealthiest bankers in the world
    or $37,000,000,000 per month compared to
    $1,000,000,000 Bill Gates spent 30 years of work to earn.

     

    Dr Ron Paul wants to eliminate this expense along with one trillion in useless government expense.
    Think about it, one and half trillion dollars put back into the economy every year instead of the bankers pocket. Do you think it can create jobs?
    6 Jan 2012, 11:40 AM Reply Like
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