Obama Considers Halting All Home Foreclosures...

By
Real Estate Agent with Real Living Hagan Realtors | Pinehurst ~ Southern Pines, NC

President Barack Obama reportedly is considering stopping all home foreclosures unless they have been rejected by the administration's struggling $75 billion mortgage assistance program.

The move comes as Republicans take aim at Obama's mortgage assistance program. Republicans argue the effort is making the economic crisis worse and say many homeowners would be better off as renters.

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Rainmaker
221,362
Eric J
Eric J - Dream Home Financing - Freehold, NJ
Dream Home Financing

Obama is throwing darts at anything right now. Stopping the foreclosures does NOT fix the problem...it only delays it.

Feb 27, 2010 04:43 AM #1
Ambassador
1,302,170
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Thanks for the information, and making us aware!

Feb 27, 2010 04:44 AM #2
Ambassador
1,556,086
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Oh no.....I keep hoping they will just go away. Every step towards political interference is only making things worse. I'm just sick of the bandaids.

Feb 27, 2010 04:49 AM #3
Rainer
203,017
Richard Lecinski
Long Realty Company - Oro Valley, AZ

Obama doesn't worry about things being legal to do or illegal. He wants things his way. Not good

Feb 27, 2010 04:56 AM #4
Rainer
203,017
Richard Lecinski
Long Realty Company - Oro Valley, AZ

Obama doesn't worry about things being legal to do or illegal. He wants things his way. Not good

Feb 27, 2010 04:56 AM #5
Rainer
389,763
Jacob Jamison
Zenith Realty - Joppa, MD
Exclusive Buyer Representation

Wayne and Lynda,

I do not want anyone to lose their home.

However, I believe that there is an incorrect presumption being made.

The banks nor the government do not have an unlimited supply of money such that they can rework loans or delay payment of loans.

The suggestions from President Obama simply shift, not the wealth, but the debt around.

Such ideas, if implemented would have the banks reducing staff to recover their costs, which would simply put other people at risk of losing their homes.

Ideas which will increase overall wealth are the ideas which will resolve the most problems.

Feb 27, 2010 05:00 AM #6
Rainmaker
215,807
Wayne and Lynda Gomillion
Real Living Hagan Realtors | Pinehurst ~ Southern Pines, NC - Pinehurst, NC

Seems like we're all on the same page when it comes to the Obama presidency!? What a train wreck his administration has been!... If nothing else, you have to admit he gives us a lot to talk about!

 

Feb 27, 2010 05:06 AM #7
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Rainmaker
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Wayne and Lynda Gomillion

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