Will Romney Back Refinancing Proposals Supported by Adviser?

Aug 6, 2012 | Posted by: roboblogger | Full story: Wall Street Journal

President Barack Obama's latest mortgage-refinancing proposals haven't received much support from congressional Republicans.

Comments
1 - 20 of 94 Comments Last updated Aug 10, 2012
First Prev
of 5
Next Last
Lance Winslow

San Jose, CA

|
Report Abuse
|
Judge it!
|
#1
Aug 6, 2012
 

Judged:

4

4

4

He'll back it if there's sufficient money in it for Republicans.
Ex-GOP Con

San Jose, CA

|
Report Abuse
|
Judge it!
|
#2
Aug 6, 2012
 

Judged:

2

2

2

Of course. He's a closet liberal RINO.

ObamaCare vs Romney Care 2012: The Battle of the Liberals

Will the one who fights for the 1% or the one who fights for the 99% win?
Clint Eastwood

Lynchburg, VA

|
Report Abuse
|
Judge it!
|
#3
Aug 6, 2012
 

Judged:

2

2

1


Obama's chief National Security guy, Tom Donilon is from Fannie Mae. Now You can see why Obama's Housing proposals are a failure.

http://romanticpoet.wordpress.com/2012/06/27/...
Clint Eastwood

Pleasanton, CA

|
Report Abuse
|
Judge it!
|
#5
Aug 6, 2012
 

Judged:

2

1

1

Donilon, who some suspect to be the primary source of controversial leaks of classified information to reporters, worked as a registered lobbyist for Fannie Mae from 1999 to 2005.

The firm played a significant role in the housing crisis of 2007, and the government-backed lender has since been bailed out with more than $120 billion in taxpayer funds. The total long-term costs of bailing out Fannie Mae and its affiliate entity Freddie Mac could range from about $400 billion to $1 trillion, according to independent estimates.

In November of 2011, as Donilon was continuing to collect pension payments from Fannie Mae, the lender requested another $8 billion in bailout funds to sustain ongoing losses.

The Obama administration recently proposed a controversial mortgage write-down plan that could require more than $100 billion in additional taxpayer funding for the mortgage giants.
Gary

Bellingham, WA

|
Report Abuse
|
Judge it!
|
#6
Aug 6, 2012
 

Judged:

4

2

2

Ex-GOP Con wrote:
Of course. He's a closet liberal RINO.
ObamaCare vs Romney Care 2012: The Battle of the Liberals
Will the one who fights for the 1% or the one who fights for the 99% win?
Congressional Republicans won't do anything that might help
the average American. It's either for the very top earners
or nothing..

Republicans hate the average American who makes up 95 percent
of the population.

Ergo, they hate America.
Clint Eastwood

Pleasanton, CA

|
Report Abuse
|
Judge it!
|
#8
Aug 6, 2012
 

Judged:

2

1

1

Has Obama's housing policy failed?

By Tami Luhby
CNNMoney January 24, 2012:

Until now, however, Obama's efforts to revive the housing market have largely failed.

Obama took office in 2009, promising swift action to address the mortgage crisis. He quickly unveiled his signature foreclosure prevention program, known as HAMP, and his refinance program, known as HARP.
But the HAMP program, which was designed to lower troubled borrowers' mortgage rates to no more than 31% of their monthly income, ran into problems almost immediately. Many lenders lost documents, and many borrowers didn't qualify. Three years later, it has helped a scant 910,000 homeowners -- a far cry from the promised 4 million.
HARP, which was intended to reach 5 million borrowers, has yielded about the same results.

Through October, when it was revamped and expanded, the program had assisted 962,000.
Meanwhile, more than 3.5 million people remain behind in their mortgage payments and more than 1.9 million homes are in foreclosure. And home prices have fallen for six months straight.

http://money.cnn.com/2012/01/24/news/economy/...
Clint Eastwood

Pleasanton, CA

|
Report Abuse
|
Judge it!
|
#9
Aug 6, 2012
 

Judged:

2

2

2

One of the main problems with Obama's foreclosure prevention program was that the housing crisis had already spiraled beyond unaffordable mortgage rates. Homeowners were defaulting because they didn't have jobs -- and the administration's effort did little to help them.

In response, Obama rolled out a multitude of initiatives designed to help the underwater and the unemployed. But few of them have had much impact.
"He focused his gun in the wrong place," said Anthony Sanders, a real estate finance professor at George Mason University. "The administration's approach is to kick the can down the road. That doesn't lead to a recovery and just strings the problem along."
Clint Eastwood

Pleasanton, CA

|
Report Abuse
|
Judge it!
|
#10
Aug 6, 2012
 

Judged:

2

2

2

Missed opportunities

One thing some experts say Obama could have done is required servicers, as well as Fannie Mae and Freddie Mac, to write down the principal balance on loans. This, however, has been a very controversial step because it would have forced large losses on banks and the government-controlled mortgage finance companies. The very people and institutions Obama collected Millions from in campaign cash.

http://money.cnn.com/2012/01/24/news/economy/...
Ex-GOP Con

San Jose, CA

|
Report Abuse
|
Judge it!
|
#12
Aug 6, 2012
 

Judged:

2

2

1

Gary wrote:
<quoted text>
Congressional Republicans won't do anything that might help
the average American. It's either for the very top earners
or nothing..
Republicans hate the average American who makes up 95 percent
of the population.
Ergo, they hate America.
Agreed. Each time the jobs report come out they keep hoping for America to fail and for there to be no jobs, but unfortunately for them we have had 20+ months of job gains.

We are fully aware that the GOPTEA RINOs and the 1% are doing all they can to tank the economy just to win an election.

By November here is what the American people will remember after the G-roup O-f P-olitical T-erroristic E-uropean A-merican birthers took over the house.

1) They shifted focus from jobs and the economy to defending DOMA, looking for birth certificates, and whining about teleprompters.

2) They almost pushed us into a government shutdown.

3) They pushed us into a credit downgrade.

4) They fought to kill medicare and medicaid.

5) They held our payroll tax cuts hostage for a pipeline.

6) The Republican Death Panel are fighting hard to take away healthcare for the working middle class.

7) But they sure fought vehemently for those top 1% wealthy people.

All at the expense of the economy and the middle and working class. The people who will be most hurt by GOPTEA obstructionism are the working middle class. The rich 1% would hardly notice a dent. Which is why Rich Money and Boehnor could care less.

It's time to fire Speaker Downgrade Boehner and the RINO he rode in on!
Clint Eastwood

Lynchburg, VA

|
Report Abuse
|
Judge it!
|
#13
Aug 6, 2012
 

Judged:

2

2

1

EXTEND AND PRETEND: The Obama Administration's Failed Foreclosure Program

First Posted: 08/04/10

President Barack Obama's signature plan to combat the housing crisis has fallen short of its goals -- rather than significantly and permanently reducing home foreclosures, it is only delaying them.

The administration unveiled its Making Home Affordable plan in February 2009. Obama vowed in front of an audience gathered at Dobson High School in Mesa, Ariz., that MHA's signature effort, the Home Affordable Modification Program, would "enable as many as three to four million homeowners to modify the terms of their mortgages to avoid foreclosure."

The $75 billion initiative --$50 billion from the bank bailout,$25 billion from government-owned mortgage giants Fannie Mae and Freddie Mac -- was designed to induce lenders, servicers and investors to modify distressed mortgages through a series of cash incentives.

It's not working.

In its first year, 1.5 million people were invited to try HAMP. About 40 percent of those who tried it have been kicked out of the program; fewer than that have been given an actual shot at keeping their homes.

When President Obama took office, it took an average of 319 days to complete a foreclosure, according to Jacksonville, Fla.-based data provider Lender Processing Services. Now it takes 461 days.

Extending the process by which homes enter foreclosure allows banks to continue carrying the loans on their books at full value, delaying loss recognition. That allows unhealthy banks to appear healthy, staving off costly bank failures.


http://www.huffingtonpost.com/2010/08/04/exte...
Clint Eastwood

Lynchburg, VA

|
Report Abuse
|
Judge it!
|
#14
Aug 6, 2012
 

Judged:

2

2

2

A Year Into HAMP,'We're Losing Our Home'

A HAMP trial is supposed to become "permanent" after three months, but Garwood's dragged on for nine. "They kept on saying a bank statement was missing, or one of the documentations wasn't signed, or they didn't have the affidavit, or the hardship letter," Garwood says. "And then on March 19, I received a letter saying,'You do not qualify for a permanent modification. You now owe us $12,000.'"

Obama Blows it again.

http://www.huffingtonpost.com/2010/08/04/exte...
xnutmegger

Phoenix, AZ

|
Report Abuse
|
Judge it!
|
#15
Aug 6, 2012
 

Judged:

2

2

2

Gary wrote:
<quoted text>
Congressional Republicans won't do anything that might help
the average American. It's either for the very top earners
or nothing..
Republicans hate the average American who makes up 95 percent
of the population.
Ergo, they hate America.
Duh !

I'm most impressed...wow.

That's why the Tea Party is 95% made up of average Americans.

“Proud To Be An American”

Since: Apr 07

Location hidden

|
Report Abuse
|
Judge it!
|
#16
Aug 6, 2012
 

Judged:

2

2

2

Gary wrote:
<quoted text>
Congressional Republicans won't do anything that might help
the average American. It's either for the very top earners
or nothing..
Republicans hate the average American who makes up 95 percent
of the population.
Ergo, they hate America.
Attention poop4brains!!! Spoken like a lowlife libelous mealy mouth democRat punk...Unfortunately you are dead wrong as usual and worse you are a sucker for obama refinancing anything. Very few people have qualified for those so-called mortgage bailouts. I suggest you do the some research and see what a farce the so called program is. Yepper, b. h. obama and his ilk can sugarcoat a marxist turd and suckers like you gobble it up...ain't dat right, sht lips?
Clint Eastwood

Lynchburg, VA

|
Report Abuse
|
Judge it!
|
#17
Aug 6, 2012
 

Judged:

2

2

2

'Anemic' Number of Obama's "Permanent Modifications"

HAMP gives servicers and investors $1,000 incentive payments for permanent modifications, and additional payments each year that borrowers stay current. Through June, Treasury has disbursed just $247 million for successful modifications, according to a July 21 report by the Office of the Special Inspector General for the Troubled Asset Relief Program.

The TARP auditor called the number of permanent modifications "anemic."

"HAMP has not put an appreciable dent in foreclosure filings," SIGTARP's report to Congress notes. "[F]oreclosure filings have increased dramatically while HAMP has been in place, with permanent modifications constituting just a few drops in an ocean of foreclosure filings."

http://www.huffingtonpost.com/2010/08/04/exte...

“Proud To Be An American”

Since: Apr 07

Location hidden

|
Report Abuse
|
Judge it!
|
#18
Aug 6, 2012
 

Judged:

3

3

2

Romney/Rubio 2012

“Proud To Be An American”

Since: Apr 07

Location hidden

|
Report Abuse
|
Judge it!
|
#19
Aug 6, 2012
 

Judged:

2

2

2

Any Colorado condolences coming from the lord marshal b. h. obama are spurious. How is it possible for obama to critique the actions of james holmes when obama’s mentor for years was the infamous terrorist bill ayers? I mean the actions of bill ayers and james holmes are on the same page...only exception, bill ayers has a mile long criminal rap sheet.
America should question b. h. obama's judgment about his long term very close association with bill ayers because when it comes to friends, associates and mentors b. h. obama’s judgment is a disgrace and should disqualify him for making any condolences concerning Colorado, etc.
After all b. h. obama's association with his mentor bill ayers would have prevented him from ever holding any high level security position especially in the White House but thanks to voting fools he got a pass he did not deserve.

http://www.discoverthenetworks.org/individual...

http://www.discoverthenetworks.org/groupProfi...

http://online.wsj.com/article/SB1222128560757...

“Obama Is Mentally Sick”

Since: Oct 11

AOL

|
Report Abuse
|
Judge it!
|
#20
Aug 6, 2012
 

Judged:

1

1

1

Stand With Illinois Against The Illegal Alien Invasion

http://www.facebook.com/pages/Stand-With-Illi...

“Proud To Be An American”

Since: Apr 07

Location hidden

|
Report Abuse
|
Judge it!
|
#21
Aug 6, 2012
 

Judged:

1

1

1

Ex-GOP Con wrote:
<quoted text>
Agreed. Each time the jobs report come out they keep hoping for America to fail and for there to be no jobs, but unfortunately for them we have had 20+ months of job gains.
We are fully aware that the GOPTEA RINOs and the 1% are doing all they can to tank the economy just to win an election.
By November here is what the American people will remember after the G-roup O-f P-olitical T-erroristic E-uropean A-merican birthers took over the house.
1) They shifted focus from jobs and the economy to defending DOMA, looking for birth certificates, and whining about teleprompters.
2) They almost pushed us into a government shutdown.
3) They pushed us into a credit downgrade.
4) They fought to kill medicare and medicaid.
5) They held our payroll tax cuts hostage for a pipeline.
6) The Republican Death Panel are fighting hard to take away healthcare for the working middle class.
7) But they sure fought vehemently for those top 1% wealthy people.
All at the expense of the economy and the middle and working class. The people who will be most hurt by GOPTEA obstructionism are the working middle class. The rich 1% would hardly notice a dent. Which is why Rich Money and Boehnor could care less.
It's time to fire Speaker Downgrade Boehner and the RINO he rode in on!
Attention excrement!!! Pull your nose out of gary's mudd butt and shake all the sht off yourself you deranged libelous class-warfare-rat. News for you…no one and I mean no one has to wish for the marxist b. h. obama to fail...He fails all by himself because he's stuck on stupid just like you. Nothing on your list of libel can be attributed to The Republican Party. They have stood against the destruction of the American Private Sector by the most anti-Americanism president in US History...The self-serving b. h. obama is to business what a drunk farting gasbag is to fine dining…You have no podium whatsoever so GFY.
Ex-GOP Con

San Jose, CA

|
Report Abuse
|
Judge it!
|
#22
Aug 6, 2012
 

Judged:

1

1

1

JohnInLa wrote:
<quoted text>Attention excrement!!! Pull your nose out of gary's mudd butt and shake all the sht off yourself you deranged libelous class-warfare-rat. News for you…no one and I mean no one has to wish for the marxist b. h. obama to fail...He fails all by himself because he's stuck on stupid just like you. Nothing on your list of libel can be attributed to The Republican Party. They have stood against the destruction of the American Private Sector by the most anti-Americanism president in US History...The self-serving b. h. obama is to business what a drunk farting gasbag is to fine dining…You have no podium whatsoever so GFY.
You are Personality Disorder #2. Your opinion means sh*t you disgusting piece of sh*t considering you hold Sandusky to a higher regard than the President of the United States of America. You disgust me and every decent human being.

http://www.topix.com/forum/us/politics/TU2SCT...

JohnInLA wrote:“Attention con artist!!! You get bent out of shape with sandusky yet where's your outrage when it comes to b. h. obama's associations with the likes of bill ayers? The fact of the matter is bill ayers is worse than sandusky”

**********

Topix Index to the Message Boards and RINO Party Members:

(You’re guaranteed to run across one of these personality disorders.)

==========

1) The Habitual Liar: Bluebonnets-Thistle

http://www.topix.com/forum/us/politics/TU2SCT...

2) The Sandusky Lover Suffering from Tourette’s: JohnInLa

http://www.topix.com/forum/us/politics/TU2SCT...

3) The Sandusky Loving Off-Topic Frenchman: Le Jimbo

http://www.topix.com/forum/us/politics/TRU90N...

4) The Sandusky Loving Spammer: The Laughing Liberal

http://www.topix.com/forum/us/politics/T3VIR5...

==========

“Proud To Be An American”

Since: Apr 07

Location hidden

|
Report Abuse
|
Judge it!
|
#23
Aug 6, 2012
 

Judged:

2

2

1

Ex-GOP Con wrote:
<quoted text>
You are Personality Disorder #2. Your opinion means sh*t you disgusting piece of sh*t considering you hold Sandusky to a higher regard than the President of the United States of America. You disgust me and every decent human being.
http://www.topix.com/forum/us/politics/TU2SCT...
JohnInLA wrote:“Attention con artist!!! You get bent out of shape with sandusky yet where's your outrage when it comes to b. h. obama's associations with the likes of bill ayers? The fact of the matter is bill ayers is worse than sandusky”
**********
Topix Index to the Message Boards and RINO Party Members:
(You’re guaranteed to run across one of these personality disorders.)
==========
1) The Habitual Liar: Bluebonnets-Thistle
http://www.topix.com/forum/us/politics/TU2SCT...
2) The Sandusky Lover Suffering from Tourette’s: JohnInLa
http://www.topix.com/forum/us/politics/TU2SCT...
3) The Sandusky Loving Off-Topic Frenchman: Le Jimbo
http://www.topix.com/forum/us/politics/TRU90N...
4) The Sandusky Loving Spammer: The Laughing Liberal
http://www.topix.com/forum/us/politics/T3VIR5...
==========
Attention you sandusky skid mark!!! Pull your head out of sandusky's prison panties you pervert. Post a response that backs up your gutless political libel and your habitual deranged obama butt kissing...or GFY.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

First Prev
of 5
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••