Oh Dear God!! Not again

Discussion in 'Politics' started by naturegirl, Feb 1, 2012.

  1. naturegirl
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    naturegirl Silver Member

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    0bama is going to force banks to refinance mortgages for folks that are underwater with their home values.

    Isn't this what happened the first time?? And what about those homeowners that don't have jobs and are making their house payments from their savings and borrowing from family members?? They won't qualify for a mortgage if they don't have a job.

    What about those homeowners that have taken part time jobs and are barely squeaking by. If their income will not allow the mortgage repayment they won't qualify for a new loan.

    Isn't this how we got in this mess?? The government messing with the lending industry to let people buy houses they couldn't afford.

    Mortgage | Homeowner Bill of Rights | Barack Obama | The Daily Caller
     
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  2. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Makes me wonder why I bothered all these years to keep my mortgage paid :confused:
     
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  3. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    Libs are doing the same thing all over again. They never learn. Nothing new.
    They do the same thing with education just keep throwing money at it instead of fixing the problems.
     
  4. AquaAthena
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    AquaAthena INTJ/ INFJ

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    Yes it is, and it all started with Jiminy ( deliberate ) Carter. Obama is sliding everything including the kitchen sink, through, before his failure in November.

    The Community Reinvestment Act (CRA, Pub.L. 95-128, title VIII of the Housing and Community Development Act of 1977, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.[1][2][3] Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.[4][5]

    The Act requires the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation (Section 802.) To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions (Section 804.)[6]
     
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  5. Conservative
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    Conservative Type 40

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    that was totally different. Now, with the Obamessiah, all will be wonderful, and it will work splendidly this time around.
     
  6. naturegirl
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    naturegirl Silver Member

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    How many attempts has he made at this?? He mentioned something about charging banks fees........I was half listening as it makes my stomach hurt to hear him speak.:puke:
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    Forget the fact that the participation rate the first time around barely charted.

    More form over substance, from the least substantial prez of my lifetime.
     
  8. syrenn
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    syrenn BANNED

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    What ever happened to the idea that if you cant pay your mortgage you lose the house.

    Buying home is a GAMBLE. Sometimes you win, sometimes you lose.
     
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  9. syrenn
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    syrenn BANNED

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    I agree, this is about pushing as much thought as possible to garner votes and before he is ousted.
     
  10. AquaAthena
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    AquaAthena INTJ/ INFJ

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    What ever happened to the successful 20/80 debt to income, ratio before qualifying to buy a house? Answer: Jimmy Carter.
     
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