Obama Considers Mortgage Bailout for Homeowners

In a desperate bid to ward off Democratic bloodshed during the November midterm elections, U.S. president Barack Obama is considering a mortgage relief plan that will waive billions in outstanding mortgage debt for homeowners.

This comes as great news for long suffering homeowners who owe more than their homes are currently worth.

Obama’s plan to bailout homeowners comes more than a year after he pledged billions to bailout the banking and auto industries. A homeowner bailout is what Americans had hoped for when they voted Obama into office in 2008.

The fact that this bailout comes now, when Obama’s approval numbers are at the lowest point ever, shows where Obama’s priorities lie.

…the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth.

the president’s approval ratings are continuing to erode, as are Democratic election polls. Democrats are in real danger of losing the House and almost losing the Senate. The mortgage Hail Mary would be a last-gasp effort to prevent this from happening and to save the Obama agenda. Read More…



 


14 Responses to “Obama Considers Mortgage Bailout for Homeowners”

  1. 1
    Man, I just don't care™ says:

    CHIT I HOPE I QUALIFY!

    **OFF TO CNN!**

  2. 2
    MOUTH says:

    :cheer: TEAM UNCLE O :cheer1:

  3. 3
    Al-Ameera says:

    SR stop. He has had big plans from the jump but if he gets out voted then what? Stop acting like he can just say “be and it is” (in regards to this presidency) We all know it doesn’t work like that.

  4. 4
    Daisy says:

    @al thank you and some folks got more house then they could afford. When I bought my house I was pre approved for much more than I knew I cld afford but I knew to stay within my budget. Everybody hates the govt until they need something from them :rolleyes:

    #teamPresidentObama

    Michelle is stylin n profiling in Spain :yea:

  5. 5
    Krysi J says:

    hmph! Yea right…I’ll believe dis shyt when I c it in WRITING :coffee:

  6. 6
    Val says:

    HEARD THAT ON THE NEWS.. :dance:

  7. 7
    CivilEngineer says:

    I’m with @Daisy…#teamObama

    #koolaid-drinker

    And bailouts don’t just come out the air, it takes lots of planning. As far as the banks, don’t recall that being all Obama…wasn’t that the mess Bush left like most of our economic problems oh and the war

  8. 8
    Al-Ameera says:

    Exactly at Daisy. So you mean to tell me if you go spend all your money in the Gucci store, I’m supposed to come bail you out? People were living beyond their means, re-fi’n buying new cars, furniture, going on vacay’s and ish. Now they scared cuz they may be homeless.

    Only reason he bailed the corporations out is so it wouldn’t affect the american people as bad, eg. job loss, higher prices, pension funds, etc.

    SR is no dummy, she knows all this.

  9. 9
    ohpretty1 says:

    some folks got more house then they could afford.
    ——————————————————
    Exactly. My gf’s subdivision looks like a run down ghost town now. This was a new subdivision and all of a sudden, you have all types of people moving there. You could tell these folks couldn’t afford these homes. Now everything has been foreclosed. She couldn’t give her house away if she wanted to because they left those surrounding homes in shambles. Almost all are now ‘fixer uppers.’

    And let’s not forget the ones with a little money who let their homes go into foreclosure ‘just because I can’.

  10. 10
    Princess Smarty-Pants says:

    **gets ready to duck rocks** I disapprove. :cosign: al and daisy. I was actually fighting with a friend of mine about this the other day and she called me a republican. lol.

  11. 11
    Daisy says:

    @al I agree now I do feel bad about those who lost jobs and are n foreclosure :pray: to them and their families

  12. 12
    Anna says:

    Princess Smarty-Pants says:

    **gets ready to duck rocks** I disapprove. al and daisy. I was actually fighting with a friend of mine about this the other day and she called me a republican. lol.
    ~~~~~~~~~
    LOL. Call me a Republican if you want, this just aint right. If I have to bust my butt and pay my bills, why now will I have to bail out those who knew they couldn’t afford their house. Penalize the lenders who hedged some numbers to allow people to purchase a bigger house than their income.

  13. 13
    mzvirgo78 says:

    I don’t really agree with this bailout either. It’s like people are being rewarded for bad behavior. As in not paying their bills and slacking on their priorities. While the few that work hard everyday to pay their mortgage on time can’t catch a break. It’s called consequences and when you make bad decisions in life you have to deal with the consequences …well not in America (sarcasm). I feel bad for people that have lost their jobs but most of the people crying now have just made bad decisions and are waiting on someone to bail them out. SMH

  14. 14
    Lala11_7 says:

    What about the millions of people who were roped into b.s. loans by unethical financial instutions?!?! What about the collaboration between mortgage loan companies and brokers in inflating prices…

    People just did what President Bush TOLD them to do…go out and shop…

    If I can bail out a lousy, stinking bank…then I can bail out a family who is about to lose their home…and being a humane human being…I really could give a goat’s tail…HOW THEY GOT IT!!!

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