Conservatives have a chance to prove we are not completely ideological partisans.

Discussion in 'Politics' started by Grampa Murked U, Oct 24, 2011.

  1. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Obamas proposal to help homeowners that are current on their payments yet upside down may have a chance to refinance to the lower rate of 4%. Thus lowering their payments and creating more equity in the long run as well as putting extra cash in their pockets. Assessments are dissalowed and the program is not mandatory. This direct type of stimulus would actually have an impact in the economy as a whole and not just a targeted sector.

    I for one think this is a good idea that "could" help our strugling housing market. Kudos :clap2:

    Banks are resistant because it would mean possible loss of expected revenue of 2% or more.

    I see no way this voluntary program could be considered the usual govt intrusion. It is an attempt to help not only good honest homeowners but also spark a struggling market. Not only that but this could help many other facets of the housing industry like remodeling or just simply put extra money into a weak economy in other areas through the savings it will provide the consumer.

    Now help to disprove the lockstep thought of the left on here that we all care about Obamas failure more than helping the people, by either thanking this post or responding in kind.

    PS. Im well aware that many of you will consider this an attempt to buy favor of the population before an election. But regardless of motive the results could be positive as long as Freddie and Fanny are closely watched.


    http://www.nytimes.com/2011/08/25/b...k-mortgage-refinancing-for-millions.html?_r=1
     
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    Last edited: Oct 24, 2011
  2. Ravi
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    Ravi Diamond Member

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    Too late, we already have a thread about this with partisan Republicans and fake conservatives having a hissy fit over it.
     
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  3. Grampa Murked U
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    Grampa Murked U Diamond Member

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    I saw the thread but it was full of misstruths.
     
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Just you wait. This one will fill up quick too.

    :lol:
     
  5. Lakhota
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    Lakhota Diamond Member

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    Holy shit, a thread full of mistruths?
     
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  6. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Ahh well at least my quota of hate will be equally filled. Yesterday the left hated me. Today the right?
     
  7. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    Would you mind presenting a link to the actual proposal? I would like to read it first before participating and I'm asking for the link so that others can just click it to talk about it with you ;)

    I already have an issue from your description....i dont think the govt should be involved in telling banks what interest rates or loans they can give out as thats what they did with fanny/freddy and the equal housing act which led to the housing collapse......but maybe the proposal has some stuff in it I don't see from your presentation.
     
  8. DiamondDave
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    DiamondDave Army Vet

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    Well... I would support if banks offered this as a form of relief in hard times... they will still make their money on the loan.. more-so than reselling after a foreclosure...

    BUT... I would not support this being govt funded... or banks being forced to make such an offer... govt has no business doing such a thing
     
  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    I see. Equal opportunity target.

    Go for it. :razz:
     
  10. Grampa Murked U
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    Grampa Murked U Diamond Member

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    missinformation would have been a better word. I saw that many thought the program was for the people who arent paying their mortgages.


    PS. Do you ever post anything constructive in a thread that wasnt started by one of your friends?
     

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