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Forgive underwater mortgage a reality soon?
invite response
2010 Aug 7, 9:39am 2,137 views 5 comments
Comments 1 - 5 of 5 Search these comments
3
kimtitu
2010 Aug 9, 9:43am
Probably this forum is one of many places government try to spread the rumor?
4
Patrick
2010 Aug 9, 9:48am
Patrick
2010 Aug 9, 9:48am
Lobbying should be a felony.
If lobbying becomes a felony, then corporate lobbying should get the death penalty.
5
vain
2010 Aug 10, 2:32am
Lobbying should be a felony.
If lobbying becomes a felony, then corporate lobbying should get the death penalty.
It's exactly what I was talking about! But death penalty may be a bit harsh. I really don't see how lobbying can be allowed. Nothing good can come out of this - only steers the legal climate in favor of someone/some corporate entity. If the change was for the good, it would not need someone brown nosing their way to ensure it happens.
Main Street may be about to get its own gigantic bailout.
Rumors are running wild from Washington to Wall Street that 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. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.
source Reuters James Pethokoukis http://blogs.reuters.com/james-pethokoukis/
#housing