Well another day another 10 things the P-BO is doing to be concerned about.
“We can’t wait” is the mantra for the P-BO. Under that clever cloak, the P-BO has taken it upon himself to restructure loans for “underwater houses.’ Underwater is a euphemism for bad investment. If you agreed to make payments on a $200,000 home, then America elects a know nothing president and the value of your home plummets to $150,000 you are said to be “underwater.”
I don’t really understand it. Nothing about the home itself has changed. You just cannot sell it at a price equal to or higher than what you bought it for. Car owners have been dealing with this problem since the beginning of time.
Now some unfeeling Rep might say, “Hey, hang in there. These things go in cycles. The market will be back.” What a heartless bunch of BS. “We can’t wait” for the market to adjust. We can’t be expected to meet our commitments to the bank and our family. We need the government to step in NOW and restructure our loan.
So the P-BO comes up with this gem:
“The barrier will be lifted that prohibits responsible homeowners from refinancing if their home values have fallen so low that what they owe on their mortgage is 25 percent higher than the current value of their home.”
So what does “refinancing” mean here? Does the bank forgive 25% of the loan? Or does the payment go from $675 to $650? Oh and here’s a good one. The refinancing is for homes financed through the bankrupt Freddy and Fannie. Great.
How does refinancing make your home worth more? If I’m financing $200,000 at 6% for home worth $150,000, how does financing the same $200,000 at 3% magically make the home worth another $50,000? It seems to be pretty much smoke and mirrors to me.
The bottom line here is the P-BO buying votes with your money.
But don’t worry if your interested in finding out about the “executive” changes you could use the Freedom of Information Act to request all of the relevant documents from the P-BO. But if the P-BO’s justice department has its way, the P-BO could just use his common practice of lying and tell you the papers did not exist. Yeah, really.
Eric the wad Holder’s Justice Dept. wants to make the P-BO’s lying legal. The wad has proposed a revision to Freedom of Information Act rules that would allow federal agencies to lie to citizens and reporters seeking certain records, telling them the records don’t exist.
So when the congress goes to the wad and says, “We want all the documents on the Fast and Furious operation.” The wad can say, “Fast and Furious? Hmmm. That’s a movie, right? We don’t have any papers on that, and no such operation ever existed. Thank you for your inquiry.”
Then there’s bit of scariness. Sec. of Ed Arne Duncan said:
“I think kids should be in school 365 days a year. Now, I’m a little hard-lined there, not everyone agrees with me. In all seriousness, particularly in disadvantaged communities, we know that summer reading loss is a huge problem, and so where children don’t have access to museums and libraries during the summer, having them be in school in those months to continue learning, that’s the right thing to do.”
What this really is, is year round government run day care. “Continue learning?” Arne the word “continue” implies that something has occurred and is ongoing. The schools you are talking about are utter failures. What “learning” will continue? Indoctrination of kids under SEIU teacher union thugs. The WI type learning where teachers walk off the job because they are asked to pay some bit of their own healthcare and retirement?