He's had enough time; a whole year went buy and banks got nursed back to health on the taxpayer teat while you got the boot, homeowner.
Can we foreclose his presidency now?
"Few mortgage modifications have been made permanent; Homeowners, analysts worry about long term" by E. Scott Reckard, Los Angeles Times | November 27, 2009
Achieving longer-term changes in the terms of mortgages has proved elusive, raising the prospect of a bigger wave of home repossessions, which could cause a fresh decline in home prices only months after they appeared to hit bottom....
Ambitious as the attempt sounds, the TARP oversight panel says the Obama program appears too limited in scope and scale.
But money was just thrown at banks.
Meanwhile, the number of homes at risk of being seized in foreclosure continues to rise....
If that's his kind of help, we are better off without it.
--more--"
Especially when you realize it is ALL ABOUT the LENDERS (translation: banks)!!!!
"US to prod mortgage firms on lowering loan payments; Treasury will link reductions to incentives" by Peter S. Goodman, New York Times | November 29, 2009
Well, he wasn't to successful with the CIA, so I doubt his money-masters have much to fear here.
NEW YORK - The Obama administration tomorrow plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a $75 billion taxpayer-financed effort aimed at stemming foreclosures is foundering.
Yeah, it was YOUR OWN MONEY and YOU DIDN'T get a BAILOUT!
HowTF does THAT WORK, huh?
“The banks are not doing a good enough job,’’ Michael S. Barr, Treasury’s assistant secretary for financial institutions, said in an interview. “Some of the firms ought to be embarrassed, and they will be.’’
Just figured that out, huh?
And THEY WON'T BE EMBARRASSED!
Raking in BILLIONS in BONUSES as FORECLOSURES RISE proves THEY FEEL NO EMBARRASSMENT!!!!
CRIMINALS rarely do!
Even as lenders have in recent months accelerated the pace at which they are reducing mortgage payments for borrowers, a vast majority of loans modified through the program remain in a trial stage lasting up to five months, and only a tiny fraction have been made permanent.
Related: The Help Homeowners Got
Whadda ya' mean the modification INCREASED the PAYMENT??
Also see: How the Bank Bailout Helped Americans
Lying Looters Large and Small: Mortgage Middlemen Making Profit Off American Misery
Is that the ONLY THING you VAMPIRES understand?
Barr said the government would try to use shame as a corrective, publicly naming those institutions that move too slowly to permanently lower mortgage payments.
I don't know whether to laugh or cry at that one.
The Treasury Department also will wait until reductions are permanent before paying cash incentives that it promised to mortgage companies that lower loan payments.
Yeah, this was ALL DONE for the BANKS to get a TAXPAYER-FUNDED GOVERNMENT CHECK for doing the "right" thing -- NOT for YOU, American homeowner!!!
“They’re not getting a penny from the federal government until they move forward,’’ Barr said.
Yeah, sure.
From its inception early this year, the Obama administration’s program, called Making Home Affordable, has been dogged by persistent questions about whether it could diminish a swelling wave of foreclosures. Some economists argued that the plan was built for last year’s problem - exotic mortgages whose payments increased - and not for the current menace of soaring joblessness. Lawyers who defend homeowners against foreclosure maintained that mortgage companies collect lucrative fees from long-term delinquency, undercutting their incentive to lower payments to affordable levels....
Yeah they PILE DEBT upon DEBT and CALL the s*** pile gold!!
*******************
Populist anger has been fanned by a growing perception that the Treasury has lavished generous bailouts on Wall Street institutions while neglecting ordinary homeowners - this in the midst of double-digit unemployment, which is daily sending more households into delinquency....
That is because the "PERCEPTION" this time is the REALITY and TRUTH!!
