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Fair is fair. When the Obama administration started the mortgage-relief program, I was a little less than impressed. Mortgage-relief does no good before the revival of the job market. I have said in other posts that I am not too happy with some of Obama's tactics. This is a major malfunction in priorities, IMO. A dumb move. We should be seeing more and more job creation at this point. In Upstate New York, as well as many other places, jobs are getting more scarce. Have been for several months now.
I'm not a Dem. looking to go Rep., or even Ind..
I'm a Dem. that has lost faith in our leaders and politics.
I'm a PERSON that says ENOUGH of the political ego accompanied with a side of ignorance.
Removal of troops. Then jobs. Then housing. Then health care.
Makes me want to go back to not voting.
Zandi said the government effort will likely end up helping only about 500,000 homeowners lower their monthly payments on a permanent basis. That's a small percentage of the number of people who have already lost their homes to foreclosure or distressed sales like short sales -- when lenders let homeowners sell for less than they owe on their mortgages. Zandi predicts another 1.5 million foreclosures or short sales in 2011.
It all boils down to having a President who simply does not relate to the little man. Democrats have generally put a person in office who espouse Americana, including those who have pulled themselves up by the bootstraps and know what it means to have hardships. Barack Obama did not come from that little slice of America. He came from a different dimension that included international travel and exposure to different (albeit radical) cultures. This experience does not represent the average American. Therefore, it's no surprise to me that his programs and policies do not connect to your everyday American. He simply doesn't know what it means to be these people and to know what their daily priorities are.
Barack Obama towed the Democratic Banner. But Barack Obama is not the same kind of Democrat that Democrat's have generally relied on to push their message. This discrepancy is showing.
It all boils down to having a President who simply does not relate to the little man. Democrats have generally put a person in office who espouse Americana, including those who have pulled themselves up by the bootstraps and know what it means to have hardships. Barack Obama did not come from that little slice of America. He came from a different dimension that included international travel and exposure to different (albeit radical) cultures. This experience does not represent the average American. Therefore, it's no surprise to me that his programs and policies do not connect to your everyday American. He simply doesn't know what it means to be these people and to know what their daily priorities are.
Barack Obama towed the Democratic Banner. But Barack Obama is not the same kind of Democrat that Democrat's have generally relied on to push their message. This discrepancy is showing.
Just the same as a few other Presidents. And within my lifetime.
No more President's that come from money. PLEASE.
There must also be a lack of common sense there. No jobs=no money. No money=no mortgage. Simple. Isn't it?
I would really like to know who and what he is scared of? Why is everything cowardice and compromise. A stimulous boiled down to 1/3 the suggested size layden with BS tax cuts for the rich, of which it is failing miserably!!! Who showed him the unrealeased footage from the jfk assasination?
Or
Did he really plan on governing center-right the whole time and his entire campaign was BS because he truly planned on pleasing conservatives and big-business from the git go? How else could such an unknown commodity get such a pass from corporate America.
I would really like to know who and what he is scared of? Why is everything cowardice and compromise. A stimulous boiled down to 1/3 the suggested size layden with BS tax cuts for the rich, of which it is failing miserably!!! Who showed him the unrealeased footage from the jfk assasination?
Or
Did he really plan on governing center-right the whole time and his entire campaign was BS because he truly planned on pleasing conservatives and big-business from the git go? How else could such an unknown commodity get such a pass from corporate America.
I would really like to know who and what he is scared of? Why is everything cowardice and compromise. A stimulous boiled down to 1/3 the suggested size layden with BS tax cuts for the rich, of which it is failing miserably!!! Who showed him the unrealeased footage from the jfk assasination?
Or
Did he really plan on governing center-right the whole time and his entire campaign was BS because he truly planned on pleasing conservatives and big-business from the git go? How else could such an unknown commodity get such a pass from corporate America.
Great post from aeroguydc!
Otherwise i think you're on point with both scenarios. Obama did run his campaign as "reaching across the isle" and "bipartisanship" which he has been doing, leaving on bush leftovers in his cabinet,..etc. He's basically a progressive republican the way he is running things with the weak sauce bills that upset the right as they are not right enough, and upsetting the left as they are not left enough, leading to everyone disliking him. With all these "compromised" bills are leading to little progress and setting obama and this country up for disaster. We do need a real, brass balled democrat in office to get things done like a howard dean or alan grayson. One that knows helping the working man and small business is what makes the country lead to progress, not giving tax breaks and sweetheart deals to the top 2% and big business.
Location: Finally escaped The People's Republic of California
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Quote:
Originally Posted by TempesT68
One that knows helping the working man and small business is what makes the country lead to progress, not giving tax breaks and sweetheart deals to the top 2% and big business.
One that knows helping the working man and small business is what makes the country lead to progress, not giving tax breaks and sweetheart deals to the top 2% and big business.
More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.
Who was the president in 2007? How many of those 2.3 million repossessions have been since President Obama's mortgage relief program went into effect?
Quote:
Approximately 630,000 people who had tried to get their monthly mortgage payments lowered through the government program have been cut loose through July, according to the Treasury report. That's about 48 percent of the those who had enrolled since March 2009.
What does "cut loose" mean? There's little to nothing about this statement that makes any factual sense.
Quote:
Obama officials . . . defended the program, saying lenders are making more significant cuts to borrowers' monthly payments than before the program was launched. And some of the largest mortgage companies in the program have offered alternative programs to those who fell out.
Ah, so those who were "cut loose" or "fell out" have been offered alternative programs to keep their homes. So it's not necessarily a bad thing, or the program's fault at all.
It seems your article left out quite a lot of important, clarifying detail. Try this one.
Quote:
Homeowners usually are kicked out of the trial program because they do not make the required payments, meet the qualifications or submit the needed paperwork.
I'd say those are all pretty good reasons to "cut [people] loose". But again. . .
Quote:
Once their trials are canceled, about 45% of homeowners receive alternate modifications, often one from their loan servicer. Some 8.9% had foreclosure proceedings started against them and 1.3% lost their home in foreclosure.
Those are pretty damn small percentages! So if we use the number from your article, only about 56,000 homeowners nationwide had foreclosure proceedings started, and only about 8,000 actually lost their homes.
What's that saying about statistics being able to say whatever you want them to say? If you have an agenda to push, using the number 630,000 looks a whole lot worse than 8,000, so focus your article on the 630,000 number.
Ah, but there's actually good news!
Quote:
More people also received lasting help from the administration's main foreclosure rescue program. Some 51,205 troubled homeowners received long-term mortgage modifications in June, bringing the total to 389,198.
Some 8,823 homeowners had their permanent modifications canceled, 195 of whom paid off their loans.
Paid off their loans?! Wow. That's actually pretty remarkable.
And more good news!
Quote:
Delinquency rates remain low, at least for the time being. Only 5.8% of those who received permanent modifications late last year were at least 60 days delinquent after six months.
"Early indications are the modifications are sustainable," said Phyllis Caldwell, who heads the Treasury Department's Home Preservation Office.
Fewer than 6% of applicants from nearly a year ago are still delinquent. That means that nearly 94% of applicants are current on their mortgages, and so long as they can maintain that, will get to keep their homes!
My recommendation is to take a deep breath, don't believe everything you read wholeheartedly, and let the program have time to do what it's intended to do.
Even if the Obama administration did things in the order you suggest, people would still be losing their homes, that's how bad the previous administration left this economy. With healthcare reform set to kick in this year, there will be fewer homeowners losing their homes as a result of overwhelming medical bills. And with a mortgage assistance plan in place, at least people have a chance to refinance until they can find jobs.
In the meantime, President Obama signed a Jobs bill just this past Tuesday, that will save hundreds of thousands of state government and teaching jobs. Those are hundreds of thousands of people who won't have to even worry about applying for mortgage relief if they own homes.
Do not lose faith.
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Which one is it
