More borrowers in trouble despite federal help

Discussion in 'Politics' started by CaféAuLait, Jun 21, 2010.

  1. CaféAuLait
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    CaféAuLait This Space for Rent

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    More borrowers in trouble despite federal help

    WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

    More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.




    More borrowers in trouble despite federal help - Real estate- msnbc.com

    Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
     
  2. oreo
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    oreo Gold Member Supporting Member

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    And here's the troubleing part of that article:

    agency Fitch Ratings projects that about two-thirds of borrowers with permanent modifications under the Obama plan will default again within a year after getting their loans modified.

    Obama's flood the basement economics at work---:lol::lol:
     
  3. 2Parties
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    2Parties Senior Member

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    I love the wording of the media. I'd word it "because of" not "despite". I guess they know who butters their biscuit.
     
  4. oreo
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    oreo Gold Member Supporting Member

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    Yep

    $Media bias.jpg
     
  5. 2Parties
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    2Parties Senior Member

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    Just like "Economy does not completely collapse because of spending bill passed by congress" when in reality it's "Economy does not completely collapse despite spending bill passed by congress"...

    Propaganda rules.
     
  6. uscitizen
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    uscitizen Senior Member

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    Yep, no jobs or underemployment works that way.


    BOOSH!!!!
     
  7. oreo
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    oreo Gold Member Supporting Member

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    And as we see now--the 787 BILLION in economic stimulus that really wasn't didn't help those unemployed or underemployed.

    Obama's flood the basement economics has been an absolute failure.
     
  8. uscitizen
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    uscitizen Senior Member

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    Not to keep their home mortage paid up, but maybe the around 2 years of unemployment insurance helped to house them somewhere.
     
  9. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Maybe because the federal government was never designed or meant to help them with their financial trouble.
     
  10. ba1614
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    ba1614 Silver Member

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    I know I'm shocked to see people who get bailed out of their problems, (so they can keep the lifestyle they couldn't afford and remember it at the voting booth), get right back into trouble again. Who would've thought that would happen?
     

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