Whatever I Want Is A Right in the Constitution

[Sgt Schultz]

From the website "Flopping Aces"
http://www.floppingaces.net/2009/02/22/acorn-we-have-a-right-to-invade-homes-because-there-is-a-right-to-housing/
What a great look inside the idiotic mind of a typical ACORN thug. Here is Stuart Varney of FOX Business interviewing Bertha Lewis, Executive Director of the New York branch of ACORN, about the recent invasion of private property by the criminal enterprise…ACORN:

Transcript below…have to read it to believe it:

Stuart Varney: Do you think you got a right to these houses?

Bertha Lewis: I think the homeowners have a right to stay in those homes until the administrations plan can be implemented…yes I do.

Stuart Varney: They got a right to the house even though they haven’t paid their bills?

Bertha Lewis: They have been paying their bills…I think it’s a false thing to say that people haven’t been paying their bills.

Stuart Varney: No, their delinquent on their mortgages.

Bertha Lewis: Well, they maybe delinquent on their mortgages but there are people still do that.

Stuart Varney: They haven’t been paying their bills

Bertha Lewis: There are millions of millions of people who are…

Stuart Varney: Doesn’t matter, they haven’t been paying their bills.

Bertha Lewis: Being foreclosed on every day and so we have a plan in place and people need to stay there..

Stuart Varney: What right do you claim to stay in a house that you can’t afford and you cannot pay the bills and what right do you have to get my money to pay for you? I’ve read the constitution, I don’t see that right…

Bertha Lewis: Well, I don’t see the right that banks have to get 700 billion dollars to get bailed out

Stuart Varney: No, no, that’s a different thing…

Bertha Lewis: That’s all part of the same thing…

Stuart Varney: No it’s not…

Bertha Lewis: Every 13 seconds, Stuart, people are getting foreclosed on and they have the right to protect their homes and to protect their communities. It’s the most American thing you can do to protect your community.

Stuart Varney: ACORN is well known for looking at banks and saying “give us a loan,”….they don’t give you a loan so you scream racism you then invade their offices and demonstrate outside the private homes of bank executives, you embarrass the banks and you force them to give you loans on favorable terms, now…those loans cannot be repaid, you will not leave those homes and your claiming a right to stay in them and have a right to my money to make sure you stay in them, again…I come back to it Bertha, they may be be foreclosing every 13 seconds but you have absolutely no right to that house.
Bertha Lewis: Well banks don’t have a right to discriminate.

Stuart Varney: Again, your taking a parallel track you see….Where is the right?

Bertha Lewis: I wish we could force banks to our will but….

Stuart Varney: Where is the right? Where is the right to my money? You are demanding money from me.

Bertha Lewis: We’re not demanding money from you.

Stuart Varney: Yes you are.

Bertha Lewis: We’re demanding that the banks renegotiate these loans

Stuart Varney: It is taxpayer money in this plan, which you propose to bail out your people to stay in the homes they cannot afford. You are demanding my money and your saying you have a right to my money. It is no excuse to go on a parallel track and say “well the banks have no right to 700 billion dollars,” that’s not the point madam. You are demanding my money directly to your people. And that’s wrong.

Bertha Lewis: First of all these are not my people, these are millions and millions of hardworking homeowners who are paying their bills, paying….

Stuart Varney: They are not paying their bills….I can’t believe your getting away with this….they are not paying their bills.
Bertha Lewis: Well I know people who are.

Stuart Varney: They are delinquent on their mortgages that’s why they are being foreclosed on.

Bertha Lewis: They’re paying their bills, they’re paying their taxes.

Stuart Varney: They are not paying their mortgage bills and you know it.

Bertha Lewis: Yes they are.

Stuart Varney: No, if they were paying their mortgage bills they would not be foreclosed on, they would not be leaving the home….right?

Bertha Lewis: First of all, you are wrong because millions of millions of people are (ineligible), they are late on their mortgages

Stuart Varney: They are delinquent on their mortgages

Bertha Lewis: And that means late.

Stuart Varney: They have not paid their mortgage bills and you know it

Bertha Lewis: They have been foreclosed on and people need to be able to stay into their homes and so that they can take advantage of the President’s new plan.

Stuart Varney: So you invade these homes with a lot of guys. Your not going to leave, your gonna protect these people, we’re gonna stay in the home….Your a nice lady, your a gentle and a nice lady

Bertha Lewis: No I’m not…

Stuart Varney: But I put it to you….this is political thuggery.

Bertha Lewis: Well, I’m a very determined lady, I don’t think it’s political thuggery and I think it’s thuggery when you put out hard working members of home owners from their homes…..here’s the thing….

Stuart Varney: And it’s not when you invade a bank managers office so you shout racism? That’s not political thuggery?

Bertha Lewis: Well, it is true….

Stuart Varney: It is….that’s exactly what it is…

Bertha Lewis: Well you don’t want to tell a lie and a lie doesn’t make it the truth…

Stuart Varney: You are operating on taxpayer money. You’ve received…ACORN has received since 1998 thirty one million dollars of taxpayer money, three million dollars a year, you are doing this with my money.
Bertha Lewis: You want to know what we’ve done? We’ve counseled 2,300 people to stay in their homes, renegotiation their mortgages, and…here’s the thing. Every single penny we competed for and we can tell you this, if the industry had listened to us ten years ago when we said this was coming we wouldn’t be in this crisis. So now here’s what we’re gonna do.

Stuart Varney: Listened to you? You’ve invaded their offices

Bertha Lewis: No we didn’t

Stuart Varney: …you are political thugs, you embarrass banks to give them loans which they could not afford to repay and now they cannot afford to repay them and your claiming the right to my money to stay in those homes and you will have big burly guys who say “we’re not going to leave here no matter what!”

Bertha Lewis: No, we have homeowners who are protecting their homes.

Stuart Varney: Your a nice lady….come on!

Bertha Lewis: I’m a nice lady and I’m very determined lady to tell the truth and the truth is this…

Stuart Varney: You are not telling the truth…

Bertha Lewis: Here’s the thing…

Stuart Varney: Your telling me these homeowners have paid their bills and they have not…

Bertha Lewis: We cannot force anybody to do anything….here’s the thing, you know who are the thugs? The thugs are the banks, the thugs are the mortgage brokers who bilk people so they are delinquent and they deserve to be helped just like big banks and institutions are we intend to stay.
Stuart Varney: And they have not paid their mortgage bills and they have no right to those houses…that is my last word. Bertha Lewis….

Bertha Lewis: Housing is a right.

Stuart Varney: It is not a right.

Bertha Lewis: Yes it is

Stuart Varney: I’ve read the Bill of Rights, I’ve read the Constitution, no where does it say that housing is a right.

Bertha Lewis: Yes it is.

Stuart Varney: Can you show me? Which page? Which line?

Bertha Lewis: Well we have the right to the pursuit of happiness.

Stuart Varney: You have a right to a house? Where does it say that?

Bertha Lewis: If your a hard working American and you pay your taxes and you do the right thing you do have a right to protect your home.

Stuart Varney: I tell you what Bertha, we have a Constitutional lawyer in a few minutes, I’ll ask him if there is a line in the Constitution or the Bill of Rights that spells out a right to a house which you claim.

Bertha Lewis: That’s good….good.

Stuart Varney: But Bertha, we’ve run way over our allotted time..

Bertha Lewis: Have we, well you have to have me back and we will show you how many homes we have defended.

Stuart Varney: Defended? Invaded and stolen but that’s another story entirely. Thank’s Bertha.
---- end transcript ---

[Nickdfresh]

http://inventorspot.com/files/images/1559606_340_1116081430036-spam.jpg

Insightful. :handjob:

[hideyoursheep]

Nickdfresh: Insightful. :handjob:

hideyoursheep: No it isn't.


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[GAR]

Did the Spendulus Package still have 20 million dollars for ACORN in it or was that thrown out?

[LoungeMachine]

Did the Spendulus Package still have 20 million dollars for ACORN in it or was that thrown out?

You're in the library. Look it up yourself.

Lazy mullet.

:gulp:

[swage33]

An amazing insight into a well intended, but misguided mind.

[bueno bob]

It's in everybody's best interests to keep people in their homes, as much as possibly can be managed. If Schultzie-poo's neighbors all get evicted and move across town to low rent apartments, and Schultzie-poo's the only person on his otherwise vacant block, what do you think that's going to do to the property values of that whole block, Schultzie-poo included? And, when the property owners get desperate to fill the block and start dropping prices to ridiculously low levels, exactly what kind of neighbor prospects is that going to attract for him? It's a far better solution to avoid evictions of middle class homeowners struggling in a bad economy than to boot them out, drop the prices to sellable and make more neighborhoods easier to access by the less than reputable.

Of course, this is going under the impression that Schultzie-poo actually lives IN A HOUSE himself. I'm more inclined to believe he's an apartment dweller and probably has no real vested interest in the matter either way.

[Sgt Schultz]

It's in everybody's best interests to keep people in their homes, as much as possibly can be managed. If Schultzie-poo's neighbors all get evicted and move across town to low rent apartments, and Schultzie-poo's the only person on his otherwise vacant block, what do you think that's going to do to the property values of that whole block, Schultzie-poo included? And, when the property owners get desperate to fill the block and start dropping prices to ridiculously low levels, exactly what kind of neighbor prospects is that going to attract for him? It's a far better solution to avoid evictions of middle class homeowners struggling in a bad economy than to boot them out, drop the prices to sellable and make more neighborhoods easier to access by the less than reputable.

Of course, this is going under the impression that Schultzie-poo actually lives IN A HOUSE himself. I'm more inclined to believe he's an apartment dweller and probably has no real vested interest in the matter either way.

The mortgage problem is primarily a problem in about 5 states, the worst of which is California. You are wrong and misguided in most of what you say.

The reason is that I, along with most responsible people, in states that don’t have a mortgage crisis bought a modest home was in order to ...wait for it...LIVE in it. The rampant speculation buying and "flipping" that was going on in primarily 5 states was doomed to eventually collapse.

If some people in my neighborhood fucked up and stupidly bought a home for speculative reasons, or with a mortgage with an adjustable rate that's their problem. If I own a home whose value decreases it is only a problem if I plan to sell it - and then only if I've only lived in the house a few years.

For current middle class homeowners who are having trouble with their primary residence - it is up to them and their banks to figure out a plan - it is not up to the Govt. to come in and dictate how things will be done while throwing my money to help out someone who overbought and was not smart about the purchase of their home.

And if they do get booted and the house goes up for auction, current renters are in an excellent position to buy their first home.

This is why so many people have a big problem with this idiotic Obamarxist plan Bobby-poo.

[bueno bob]

The mortgage problem is primarily a problem in about 5 states, the worst of which is California. You are wrong and misguided in most of what you say.

LMAO

Sure thing, buddy.


The reason is that I, along with most responsible people,

LMAO @ "responsible people"

Who makes the fucking definition of "responsible", jackass? You?

Sorry. Based on your "responsible" definition and how wrong and misguided I am, I can't even bother to read the rest of your crap. Probably about as insightful as the rest of the horseshit you post.

[Redballjets88]

The point is if you don't pay for the house it is not your house, it is the bank's house.

Just because someone put all of their shit into a house and sleeps there doesn't mean it belongs to them.

This is the same as if someone just moved into your garage, didn't pay you for using it and when you told them to leave they refused and got randy savage to guard the door so you couldn't kick anyone out.

[LoungeMachine]

The point is if you don't pay for the house it is not your house, it is the bank's house.

Just because someone put all of their shit into a house and sleeps there doesn't mean it belongs to them.

This is the same as if someone just moved into your garage, didn't pay you for using it and when you told them to leave they refused and got randy savage to guard the door so you couldn't kick anyone out.

I enjoy having the kid who still lives at home, schooling us on what a mortgage is, what it means to own a home.

:lol:

[Redballjets88]

I enjoy having the kid who still lives at home, schooling us on what a mortgage is, what it means to own a home.

:lol:

I bet ya do guy, when is the last time you had any real input in a thread?

You're pretty much a troll under the guise of a mod.

[LoungeMachine]

I have plenty of input.

I also enjoy pointing out idiotic threads/posts, and that bugs you, because you're the prince of idiotic threads/posts.

Answer a simple question:

Have you ever applied for a home loan?

or

Have you ever signed a lease agreement?

If the answer is no to both as I suspect, then you really have no cred in a thread discussing home ownership is my point.

But that's just my opinion.

I'm allowed my opinion in here. And when others disagree with my opinion, I dont whine about it like a little bitch like you do.

:gulp:

[sadaist]

If you can't pay your mortgage, you lose your house....plain & simple.

These people signed a contract that stated "We (the bank) will pay for this house for you upfront, and you (the purchaser) will pay us X amount every month for 30 years. We will use the property as your collateral. If you fail to pay for an extended period of time, we take the house back." Both parties agreed. If these people didn't understand the terms, they had no business signing the contract. Again, if you can't pay your mortgage, you lose your house....plain & simple. There are plenty of apartments, rooms for rent, condos, trailers, mobile homes, etc...out there that may be in your price range.

No one has a right to own a house. It's not like the bank forecloses if you're a month or two late. My particular note holder doesn't begin proceedings until 180 days late (6 months). Then from there it can take another 6-18 months to take possession of the property. If you can't pay your mortgage for 6 months, you can't afford a house. And just because you prefer a house to sharing an apartment doesn't mean I should have to pay for it. I have enough worries making my own ends meet.

[Redballjets88]

I have plenty of input.

I also enjoy pointing out idiotic threads/posts, and that bugs you, because you're the prince of idiotic threads/posts.

Answer a simple question:

Have you ever applied for a home loan?

or

Have you ever signed a lease agreement?

If the answer is no to both as I suspect, then you really have no cred in a thread discussing home ownership is my point.

But that's just my opinion.

I'm allowed my opinion in here. And when others disagree with my opinion, I dont whine about it like a little bitch like you do.

:gulp:

I haven't because I can't afford a house, but I guess these days that doesn't matter.

So in your opinion these people should live in houses they don't pay for?

[Redballjets88]

I have plenty of input.

I also enjoy pointing out idiotic threads/posts, and that bugs you, because you're the prince of idiotic threads/posts.

Answer a simple question:

Have you ever applied for a home loan?

or

Have you ever signed a lease agreement?

If the answer is no to both as I suspect, then you really have no cred in a thread discussing home ownership is my point.

But that's just my opinion.

I'm allowed my opinion in here. And when others disagree with my opinion, I dont whine about it like a little bitch like you do.

:gulp:

Also I have signed a lease, and you chose a great day to bring that up, I started a new job this week leasing apartments. So in your infinitely wise mind, should I let any and all people sign their lease whether or not they can pay? In your world maybe, in the real world I'll lose my job within a week of starting.

[LoungeMachine]

If you can't pay your mortgage, you lose your house....plain & simple.

These people signed a contract that stated "We (the bank) will pay for this house for you upfront, and you (the purchaser) will pay us X amount every month for 30 years. We will use the property as your collateral. If you fail to pay for an extended period of time, we take the house back." Both parties agreed. If these people didn't understand the terms, they had no business signing the contract. Again, if you can't pay your mortgage, you lose your house....plain & simple. There are plenty of apartments, rooms for rent, condos, trailers, mobile homes, etc...out there that may be in your price range.

No one has a right to own a house. It's not like the bank forecloses if you're a month or two late. My particular note holder doesn't begin proceedings until 180 days late (6 months). Then from there it can take another 6-18 months to take possession of the property. If you can't pay your mortgage for 6 months, you can't afford a house. And just because you prefer a house to sharing an apartment doesn't mean I should have to pay for it. I have enough worries making my own ends meet.

Agree 100&#37;

Now, having said that.......

I firmly believe the Phil Gramms of the politcal world, and the Wall Street Firms and Bankers colluded to sucker these chumps into thinking they could afford these homes because the value would continue to skyrocket.

And so, in order to stabilize the housing market, and home prices of neighborhoods that are filling up with foreclosed houses, the Government should step in, just like FDR did, and either buy up the mortgages and renegotiate the terms to 40 years, or let the people RENT the houses.

It is in everybody's best interest that foreclosures and abandoned houses are curtailed as much as possible.

But just handing billions over to the thieves who caused this, is ludicrous.


I dont want to reward the greedy schmucks who bought McMansions with Liar-Loans, but I also dont want inocent, hard working Americans who pay their mortgages on time to suffer with depreciated housing values.

Am I making sense?

:gulp:

[LoungeMachine]

Also I have signed a lease, and you chose a great day to bring that up, I started a new job this week leasing apartments. So in your infinitely wise mind, should I let any and all people sign their lease whether or not they can pay? In your world maybe, in the real world I'll lose my job within a week of starting.

It's not up to you, moron.

It's based on the credit rating criteria, and references as stipulated by the owners of the building you work for.

Did they not explain that to you?

:gulp:

[LoungeMachine]

I haven't because I can't afford a house, but I guess these days that doesn't matter.

So in your opinion these people should live in houses they don't pay for?

No, in my opinion you should stick to what you know, having never owned a home.

:gulp:

[LoungeMachine]

Also I have signed a lease, .

On what, exactly?

Did you move out of mom and dad's house?

Excellent!!!!!

Congratualtions.

:gulp:

[Redballjets88]

You're a fucking mongoloid. How the fuck can you say you agree 100&#37; with what sadaist said when what I said has the exact sentiment as him. Retard

[LoungeMachine]

You're a fucking mongoloid. How the fuck can you say you agree 100&#37; with what sadaist said when what I said has the exact sentiment as him. Retard

:lol:

I know you wish you were as articulate and well-read as Sadaist, but to think your stupid analogy compares to his post is well.....laughable.

:lol:

And I never said I disagreed with your "sentiment", junior. I merely pointed out the FACT you've never owned a home.

Bet Sadaist does.



The point is if you don't pay for the house it is not your house, it is the bank's house.

Just because someone put all of their shit into a house and sleeps there doesn't mean it belongs to them.

This is the same as if someone just moved into your garage, didn't pay you for using it and when you told them to leave they refused and got randy savage to guard the door so you couldn't kick anyone out.






If you can't pay your mortgage, you lose your house....plain & simple.

These people signed a contract that stated "We (the bank) will pay for this house for you upfront, and you (the purchaser) will pay us X amount every month for 30 years. We will use the property as your collateral. If you fail to pay for an extended period of time, we take the house back." Both parties agreed. If these people didn't understand the terms, they had no business signing the contract. Again, if you can't pay your mortgage, you lose your house....plain & simple. There are plenty of apartments, rooms for rent, condos, trailers, mobile homes, etc...out there that may be in your price range.

No one has a right to own a house. It's not like the bank forecloses if you're a month or two late. My particular note holder doesn't begin proceedings until 180 days late (6 months). Then from there it can take another 6-18 months to take possession of the property. If you can't pay your mortgage for 6 months, you can't afford a house. And just because you prefer a house to sharing an apartment doesn't mean I should have to pay for it. I have enough worries making my own ends meet.

[swage33]

Lounge makes some good points and its hard to disagree...I guess its just my upbringing that tells me that you gotta own up to your mistakes. This is a fucked up situation, I'm not sure what should be done. I remember when I bought my 1st house, the mortgage company ran my numbers and said I was pre-approved for 96K. I knew I couldn't afford that so I shopped within my means. No one really explained to me what my means were but I knew this loan officer was full of shit. Very few people are properly prepared for the adult world before they enter it. I guess I had wise parents and I bothered to listen. My experiences to date make most of my academic studies seem trivial to say the least. I wish they taught, "What having children will do to your marriage", or, "The wacky shit that will pop up almost immediately after you enter a long term mortgage". Would have been more helpful than gym class.

[LoungeMachine]

Lounge makes some good points and its hard to disagree...I guess its just my upbringing that tells me that you gotta own up to your mistakes. .

Very true.

However look at the facts.

We're NOT making the BANKS own up to THEIR mistakes.

Instead, we're bailing them out for being shitty greedheads.

Where's the fairness and justice in that?

If we NEED to stabilize this problem in everyone's best interest, let's give the money directly to the people, by renegotiating the terms.

And to make it fair, ANYONE who has paid faithfully on their mortgage, should be allowed to get the same terms if they wish.

:gulp:

[swage33]

Very true.

However look at the facts.

We're NOT making the BANKS own up to THEIR mistakes.

Instead, we're bailing them out for being shitty greedheads.

Where's the fairness and justice in that?

If we NEED to stabilize this problem in everyone's best interest, let's give the money directly to the people, by renegotiating the terms.

And to make it fair, ANYONE who has paid faithfully on their mortgage, should be allowed to get the same terms if they wish.

:gulp:

I'm definitely not in favor of giving to the banks. To tell the truth I would like to see all of those horrible mortgages paid off in full but that would be unfair to those that tighten their belts and sacrifice so that they can own a home. Would be beneficial if the effected communities could choose how best to protect themselves from this mess. The feds painting with broad strokes will piss off alot of people. Perhaps, if the money were made available to communities to do with as they see fit....still not perfect but its easier to reach city hall than Washington DC.

[Redballjets88]

My thoughts on the situation overall...maybe a couple other things I'm in the clouds with this post

Fuck the people who didn't pay their mortgage

Fuck the banks who tricked them into a bad mortgage

Fuck the fat cats in the banks and their golden parachutes

Fuck the bail out plan for letting the banks blow our money

Fuck the stimulus package for being too broad

Fuck the republicans for running the economy into the ground

Fuck the democrats for hastily signing the stimulus and not letting more voices or options be heard

Fuck George W. Bush

Fuck Bill Clinton (a tad less than bush)

Fuck having elderly people and children who don't have enough healthcare

Fuck the people leeching off the welfare system

Fuck the War in Iraq

Fuck pointless spending we don't need

Fuck the fact that everyone in this country pays so much in taxes that are wasted on way or another

Fuck the NRA for impeding important gun laws (bullet registry and super guns we don't need

Fuck the ACLU for being a bunch of pussies

Fuck ACORN

Fuck 3rd parties for not being more visible

Fuck wasting time in conflicts we have nothing to do with

Fuck Carter Reagan and Bush Sr. too

Fuck not doing more privatization when it comes to helping people in the inner cities

Fuck the fat cats in Washington who are more worried about getting re-elected than actually making some new ideas

Fuck me because someone will say it.

I could go on with the random rant but will stop here. Pretty much everything I believe at the moment, with fuck yous added for the hell of it

[Redballjets88]

thought this was interesting..

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[Redballjets88]

didn't reveal much, but Obama did what he said he was going to do and get Government involved.

McCain said he would get back at the fat cats in the banks for the millions they stole.

[FORD]

My thoughts on the situation overall...maybe a couple other things I'm in the clouds with this post

Fuck the people who didn't pay their mortgage

Fuck the banks who tricked them into a bad mortgage

Fuck the fat cats in the banks and their golden parachutes

Fuck the bail out plan for letting the banks blow our money

Fuck the stimulus package for being too broad

Fuck the republicans for running the economy into the ground

Fuck the democrats for hastily signing the stimulus and not letting more voices or options be heard

Fuck George W. Bush

Fuck Bill Clinton (a tad less than bush)

Fuck having elderly people and children who don't have enough healthcare

Fuck the people leeching off the welfare system

Fuck the War in Iraq

Fuck pointless spending we don't need

Fuck the fact that everyone in this country pays so much in taxes that are wasted on way or another

Fuck the NRA for impeding important gun laws (bullet registry and super guns we don't need

Fuck the ACLU for being a bunch of pussies

Fuck ACORN

Fuck 3rd parties for not being more visible

Fuck wasting time in conflicts we have nothing to do with

Fuck Carter Reagan and Bush Sr. too

Fuck not doing more privatization when it comes to helping people in the inner cities

Fuck the fat cats in Washington who are more worried about getting re-elected than actually making some new ideas

Fuck me because someone will say it.

I could go on with the random rant but will stop here. Pretty much everything I believe at the moment, with fuck yous added for the hell of it

Fuck this and fuck that.

Fuck it all and fuck the fucking brat.
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[sadaist]

My thoughts on the situation overall...maybe a couple other things I'm in the clouds with this post

Fuck "EVERYTHING"

LOLZ! I hear ya. I imagine pretty much most of us feel the same way with maybe a couple of exceptions. Doesn't matter what your political ideology is to realize that we're getting fucked one way or another. Even under the guise of being rescued or protected.

[LoungeMachine]

Hey!

I still want to hear about this lease the kid signed.

This is big news, he's moving out.

How long is it? What were the terms?

Did you need a co-signer?

I'd buy you a six pack of that shitty beer you drink to celebrate, but that would be furnishing alcohol to a minor, and that's a no-no. :D

Tell us about your first lease.

:gulp:

[Sgt Schultz]

Agree 100%

Now, having said that.......

I firmly believe the Phil Gramms of the politcal world, and the Wall Street Firms and Bankers colluded to sucker these chumps into thinking they could afford these homes because the value would continue to skyrocket.

Agreed - "affordable housing" is, and was a politically popular phrase to use for all politicians. But let's be fair here. It was the Barney Franks and Chris Dodd's who were the big pushers of this notion - and still are. And remember that Obama was part of a lawsuit against a lender who wasn't lending to people who had not-so-great credit. Janet Reno's Justice Dept. pressured / threatened lenders about extending credit to risky borrowers. So yes, the banks figured out a way to make big profits on risky loans but they were pressered into doing it in the name of "affordable housing" for everyone - income and credit worthiness be damned. The Republicans did sound the alarm years ago about Fannie Mae / Freddie Mac but they were rebuffed every time and it was also implied that any criticism of Franklin Raines was racist.


And so, in order to stabilize the housing market, and home prices of neighborhoods that are filling up with foreclosed houses, the Government should step in, just like FDR did, and either buy up the mortgages and renegotiate the terms to 40 years, or let the people RENT the houses.

It is in everybody's best interest that foreclosures and abandoned houses are curtailed as much as possible.

Banks are in business to make money so if it is their advantage to keep someone in the home and work out some sort of deal they would, and are doing that. But sometimes the best option is to foreclose.

The problem with a declining home value, like that of a stock or mutual fund, is only a problem if you plan on selling. The mass foreclosures is primarily a problem in 5 states, "Kahleefoniya" being the worst. The housing market is already seriously damaged and no amount of Gov. intervention is really going to do much except pay for bureaucrat
salaries. It has to work itself out. I will repeat that for some people - younger people who are renting - this is a great opportunity to buy a house at a great price. Remember just a few years ago when everyone was bitching about home prices skyrocketing and many people not being able to afford a home?


But just handing billions over to the thieves who caused this, is ludicrous.

I dont want to reward the greedy schmucks who bought McMansions with Liar-Loans, but I also dont want inocent, hard working Americans who pay their mortgages on time to suffer with depreciated housing values.

Am I making sense?

:gulp:

Yes, you are making sense.

[katie]

Hey!

I still want to hear about this lease the kid signed.

This is big news, he's moving out.

How long is it? What were the terms?

Did you need a co-signer?

I'd buy you a six pack of that shitty beer you drink to celebrate, but that would be furnishing alcohol to a minor, and that's a no-no. :D

Tell us about your first lease.

:gulp:


http://files.blog-city.com/files/aa/2370/p/f/stupid_american_idiot.jpg

[LoungeMachine]

I have a stalker.

Sorry katie, I'm taken.

:gulp:

[Sgt Schultz]

The mortgage problem is primarily a problem in about 5 states, the worst of which is California.

http://i181.photobucket.com/albums/x259/sgtschultz_2007/foreclosures_2008_usa_today.gif
Red Squared Counties – The 35 counties with the highest number of foreclosure actions in 2008. These 35 counties accounted for HALF of the nation’s foreclosure actions.

[Guitar Shark]

Looks like it's a big problem in Florida.

[Nitro Express]

It would be nice if Obama represented the US citizens instead of the bankers who fucked us. All the bailout money is going overseas and none of it will help you but you will have to pay for it. Obama and the US Congress should throws these thieves in jail. Take over the banks because they all are bankrupt and erase the derivative debt. Then issue 0&#37; loans to companies that meet stringent guidelines on production to bring the jobs back. Getting into more debt and increasing taxes will kill the country and then these offshore bankers buy us cheap and keep us in debt forever.