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RENO, Nev. – Thursday, it was George’s mansion; Friday it was Val and Paul’s house.
The day after President Barack Obama joked around with movie star George Clooney at a high-dollar dinner, he sat down in Val and Paul Keller’s kitchen to talk about how they reduced their monthly mortgage payments by taking advantage of a program to help responsible homeowners refinance their mortgages.
The trip to Reno – the only official event on an otherwise fundraising-heavy West Coast swing – was meant to highlight the administration’s efforts to expand access to refinancing and to push the president’s five-point Congressional “to-do” list.
Speaking outside the Kellers’ home after meeting with them privately, the president first touted the measures he implemented last fall to help homeowners who are current on their government-sponsored loans but had fallen behind because their homes were underwater (their values dropped below what owners owed on them).
He noted the Kellers were beneficiaries of that program but added that it could only help people with government-sponsored loans, the most the president could do without getting the program passed through Congress.
“We want to include everybody; people whose mortgages aren't government-backed. And in order to do that we've got to have Congress move,” he told a crowd of the Kellers’ neighbors seated outside their home.
Three Democratic-sponsored bills on homeownership will be introduced next week, one of which would help those with non-federal loans to save more money through refinancing, exactly what Obama called for on Friday.
He added that Congress should also remove more regulatory barriers for responsible homeowners, including costs for manual appraisals, which aren’t always necessary to determine whether a homeowner is eligible for refinancing, as well as pass a bill that would give homeowners the option of refinancing into lower monthly payments or funneling those savings into rebuilding equity in their homes.
“There’s absolutely no reason why they can’t make this happen right now. If they started now, in a couple of weeks, in a month, they could make every homeowner in America who is underwater right now eligible to be able to refinance their homes -- if they're making their payments, if they're responsible, if they're doing the right thing.”
The visit to the Keller’s followed two fundraisers in Seattle in addition to the Clooney dinner.
Earlier Friday morning, the president played basketball with Clooney and actor Tobey Maguire. Asked on the rope line who won the game, the president responded, “"As you might expect, George and I won.” But he quickly added, “I think we are all winners ‘cause no one got hurt."
Obama did get hurt in a Nov. 26, 2010, post Thanksgiving basketball game with family and friends. He needed 12 stitches after Rey Decerega, a Congressional Hispanic Caucus Institute aide, elbowed him in the lip.
Earlier: Day after supporting gay marriage, back to fundraising for Obama
Leave a Comment:
Passing a bill like that would help a lot of people. But since it would make Obama look good, the "baggers" in Congress would never go for that!!!
Obama/Biden 2012
This is exactly the same idea Obama used in the 2008 campaign. He was successful in fooling people with his lies then and so he figures they will work again.
Obama needs new speech writers because he is just recycling the same old ideas and programs over and over. He is quiet about some of the things he said back in 2008 though. Back then Obama said that he would cut the national debt his first term. Now we are even worse that Greece, France, Italy with our national debt exceeding the GDP for the first time in our history. Obama also said that if he didn't turn the economy around his first term he didn't deserve a second term. Obama also said there are no red states or blue states but the United States. I still feel good and I applauded when I heard him say that. Since that speech Obama has been the most divisive, narky commenting, and partisan president in my long memory of past presidents. And he gets away with it because the liberal media gives him a pass or even rationalizations for his actions and comments. This incompetent lying hate speading president has been a disaster.
VOTE ROMNEY FOR PRESIDENT stop the Obama economic insanity.
UncleSam-2242573 -- Interesting how you and the rightwing embrace the "same old ideas and programs over and over" even after these fail over and over. Milton Friedman's policies were tested and failed, supply-side "voodoo" economics have been tested and failed. But you want to continue doing these things, thinking doing it more "severely' is what will make it work.
If the president repeats some ideas he has proposed before, it's because these ideas have been blocked by Teapublicans in Congress. Other things he won't repeat because a lot has happened since his last campaign such as a depression.
Things are "even worse" in Europe because of austerity, or in the US "starve the best" draconian cuts in spending with ZERO revenue for investment in our nation's future. If the US "eats the corn seed" we will double-dip for certain just like France, England, Germany, and unemployment will skyrocket just as it has in countries like Greece.
The last thing our nation needs right now is to elect a plutocrat like Romney. But we also need to throw out the obstructionist Teapublicans, and oligarchy they answer to.
Any congressional seat up for reelection -- We should review the actual record of what Teapublicans have spent their time doing since 2008. What it will show is they haven't done one thing to create jobs, rather they have attacked women's rights, labor rights, voter rights...and commemorative coins and naming buildings. Let's publish this please!
Ahhh yes Uncle Sammy - who can ever forget Willard's own plan on the housing market crisis;
In other words - I GOT MINE @!$%# YOU!
Must be nice when you OWN 5 homes and put a car elevator in them!
Very good GT I see you are using intercourse between the newest class of married people as your avatar. Which one are you the one on all fours receiving, or the one shoving it in the others fecal matter hole. Oh and in your releationship do you ever swap or is the one on all fours always the bitch. lmao. oh and by the way 250,000 Americans are getting letters that their unemplyment checks have stopped. I realize you and your boy in office don't care but the rest of us do. The economy sucks because of the POS you put in office.
Romney 2012
No Fiesty - you are wrong. It isn't "I GOT MINE @!$%# YOU!" Mitt's answer to the housing crisis is, "I GOT MINE, NOW I WANT YOURS TOO. THEN, I'LL RENT IT BACK TO YOU"
Nice Bob. The article, and the 3 comments preceding yours are about helping homeowners that are underwater... but you focus on an avatar and go off on your obsession with gay sex. Hmmm, me thinks thou dost protest too much. (and I'm guessing you're the submissive bottom type).
It's not going to keep Obama's poll numbers from continuing to tank .... "LOL"
UncleSam-2242573
Obama needs new speech writers because he is just recycling the same old ideas and programs over and over
Mitt likes it. He copies every thing President Obama does.
Swaggerliosly and the new Cool President Obama
http://www.youtube.com/watch?v=szlLhcz-uqE&feature=related
Uncool Mitt Romney
http://www.youtube.com/watch?v=mkIZaAC-208
ROFL
Wild & crazy guy, Mitt Romney, would be happy to take President Obama through a waterski course, because Mitt says he is thinks President Obama is too cool with singing. ( Mitt nervously chuckles)
http://www.youtube.com/watch?v=QWRn0L3v0p8&feature=player_embedded
Bob - you're a disgusting excuse for a human being and clearly your IQ is in the teens.
You are the perfect example of a Republican - no sanity to be found in the GOP!
SeekingSanity
You all would be screwed if you did not have the republicans to blame for all the liberals failures.
Let's see . . .
The deepest recession since The great Depression caused by Republican/TP Inc. deregulation. Deregulation that allowed banks to create, and gamble on derivatives. Deregulation that allowed mortgage originators to make 'ninja' and/or 'liar loan' mortgages, even illegally because the Republican/TP Inc. had defunded enforcement during the Bush administration.
High unemployment causing the cost to the government safety nets to climb. High unemployment caused by a recession that was the result of deregulation by the Republican/TP Inc. party. High unemployment caused by a lack of demand for products, due to the unemployed not having enough to provide that demand. High unemployment caused by the Republican/TP Inc. party blocking every bill that would help the economy create jobs.
<begin snark> Yep, sounds like those liberals sure have failed. <end snark>
The only failure that the liberals have responsibility for, is failing to get their side out to vote. Now we're stuck with the Republican/TP Inc. party doing everything they can to ensure that the top 1% get all of the advantages, while the rest of us pay for their excesses.
All you liberals out there, it's one thing to post here, you must follow up by going out, and voting. Make it your mission to get at least one more liberal out to vote, who might not otherwise have voted. We need to get the radical Republican/TP Inc.party out of government to be able to repair the damage they have done over the last 30+ years.
GOTV for Obama/Biden, a Democratic majority in the House, and at least 60 Democrats in the Senate.
Really? Isnt that what govt always does, reward bad behaviour, and penalize good behavior?
govt gonna force banks to rewrite 30 year mortgages when they already alloted the proceeds?
This prez is a bozo.
Fiesty,
Has the president not already addressed this? Twice over the past 3 and half years. Most of the foreclosure's are on people who can not pay on there mortgage from 6 years ago. Its not like its a sudden, shock. By a 300,000 home and make 50,00 a year. What makes them entitled to keep something they can not afford? Just asking, this is what my brother is going through right now. He got in over his head and has used the government to keep his house without making a payment. He just keeps readjusting his mortgage.
SeekingSanity about my IQ, don't know haven't tested in years, don't think I need to. 58 year old Logistics Engineer on a Space Program well over 5 figure income. And yes you are right that would be typical of a Tea Party Republican like me. And you my friend are a typical democrat you call me a disgusting human being while fat ass fiesty spits out garbage on every post. You do have a point, that is expected from a fat ugly female democrat like fiesty but not from a good looking, upstanding professional Republican like myself. Some of us do like to get out play with red-neck Mid Westeners like freeloader fiesty.
Okay, so I am supposed to see our President as the great savior....and feel so good that the people sitting in homes that they couldn't afford in the first place, get to stay there-essentially rent free, having chunks of what they borrowed "forgiven". But nowhere in this scenerio do I see anythiing for me or the other people like me, working folks who bought homes we could actually afford, and not recently either-try 25 years ago, and here we are, on what should be the threshold of paying off our mortgages in full, and what we purchased has devalued to the point that we can't even get what we paid for it. However, our taxes are going up for property assessments even with our houses being half of what they were valued at three to four years ago...We are paying more for less. Our investment, nest egg, is broken and Mr. Obama's Humpty Dumpty programs will not do anything to put our investments back together again. You could probably fit the total square footage of my house inside the stupid three car garage of a Mc Mansion and still have room left over, but nobody has done anything to insure that I can keep what I have when the unemployment monster came knocking at our family door. We were responsible, thrifty, good stewards of what we had, and we still stand to lose it all unless there are jobs, real jobs, with real paychecks and benefits, and unless we get them very, very soon. Do you know how aggravating it is to hear about people being forgiven the amount of my total mortgage, and yet I could potentially come to grief after faithfully paying mine for 25 years.....Once again, punish the responsible and reward the idiots. The idiots are a growing segment of the population and I fear may be the deciding force of the election. The problem is that the idiots will vote for the immediate fix, what puts the chicken in their pot- so to speak, while the responsible ones realize that it means the end for absolutely everyone and everything that we have associated with the American Dream.
But do they have to pay back the $51,000 cash from the refi they took to pay off their business loans?
No bank would go for it as it's forgiving debt - giving money way, which we all know they are not in business to give things away for free.
"but had fallen behind because their homes were underwater (their values dropped below what owners owed on them)." And how is this a hardship for the Keller's?? Did one of them loose their job, medial condition, just wanted to decrease their mortgage to show that they have equity in their home?? This statement just makes it sound like they just want something for free!! My car depreciates can I have a few thousand on my loan forgiven, so I can sell it and make a few more bucks as I am using this asset as my retirement fund as well?
The homeowners lost value in the houses they never should have purchased in the first place because they couldn't afford them. Others lost their homes because they lost their jobs due to the lousey economy and bankers get to write off all the "losses" they encounter under this law. Everybody wins. The only people who may be losing is the treasury from the loss of revenue from the taxes that would have been paid instead of written off. Since banks and other rich entities don't want to pay any taxes anyway there shouldn't be a problem for our friends on the right.
No, a majority bought houses they could afford, but when the housing market crashed, their home values fell below their loan amounts. On top of that, Americans lost over 4,000,000 jobs in the next 6 months (aaah, the good old days of the Bush Economy). Had the banks used the TARP money to help these responsible homeowners, America's recovery would be moving along at a better pace. But no, they pocketed the money and moved it overseas (to visit Mitts money) and did NOTHING to help citizens of the U.S. Yes, there were people who bought houses they couldn't afford, but that is not the majority of Americans. If it were, there wouldn't be nearly the number of underwater homeowners, because the folks that bit off more than they could afford, walked away. I know, I know... that isn't what you saw on Fukt Noise, so it can't possibly be the truth.
How did the bank use the TARP money to move over seas?? Many of these Large banks have paid back their TARP money including interest as these were cash infused funds which the government purchase assets from these companies to ensure there was not a "run on the banks". The only ones that haven't paid back these funds are smaller banks and insurance companies plus AIG, GM and Citi.
It was peoples greed that caused all this. We all tried in some shape to be part of this bubble whether we bought that house because everyone else was, or we became a mortgage broker, realtor, landlord, house flipper, etc. People used their houses as an ATMs when the market was booming as it seemed the easiest way to get the new car, pay for college, vacation, kitchen, tv, etc. We were leasing a new car every year, putting more than we should on the credit card. It was called easy credit and yes the banks are to blame, but so is the person on the other end of this screen, but we just can't swallow our pride and admit that we screwed up. We all need to quit blaming others for our downs as "WE" are the only ones that can change our position.
JDills, If they can afford their home, what's the problem?
Keep making the payments. What difference does it make if the House is underwater? Eventually the House will be paid off, right?
The problem is that everyone thinks they have a right to have their homes appreciate. It's not about making the payments, it's about feeling cheated because they can't make any money off it if they want to sell it.
So don't sell it until the market comes back or you Equity is greater than your liability.
Easy Peasy.
Now if they bought more home than they could afford in the first place, or took out equity loans to go on vacation or buy a boat, they were irresponsible and deserve whatever they get.
Amen WCA
I know a guy that works at at BOA mortgage firm he said their firm is waiting until after the election to foreclose on tons of overdue homes this is a weak attempt for the president to make it look like he is trying to stop the onslaught of foreclosures he KNOWS will happen after the election. TOTAL POLITICAL POSTURING.
If you really want your country to die then elect a republican for anything.
The only plan the republicans have is to follow the plan in England that caused another recession.
I know republicans are not very bright, but to put our country into another recession on purpose? And that is not even the worst of what they would do if elected.
VOTE FOR AMERICA....VOTE FOR A DEMOCRAT 2012
JDill - you're absolutely right. The homeowners bought homes well within their ability to pay on them. With the massive housing crisis many homeowner's are seriously underwater - through no fault of their own.
A big plus of this is that people will have lower payments and be able to put more money back into the economy. These are people who have been paying their mortgages but unable to take advantage of the rates which are at all time lows. By refinancing, some may free up $300 or more monthly. All of that will help them and the economy. It's a win-win!
AmreicansFirst
Haven't you been paying attention to how your philosophy is working for Greece?
JDills
It would appear that America lost over a half million jobs just in the manufacturing sector during the last THREE years of the Clinton administration. You people don't have a clueas to what happened with the housing industry. And you all are absolutely blind as to the causes of the credit crisis which is responsible for the severity of this particular recession. YOU SO CALLED LIBERALS ARE SO SHORT SIGHTED THAT YOU CAN'T SEE PAST THE END OF YOUR NOSE.
http://www.factcheck.org/dnc_ad_says_bush_lost_manufacturing_jobs.html
Actually, commander, it is the philosophy of austerity that is now the major cause of Greece's problems. Greece, England, Spain France, and Ireland are all now experiencing a 'double dip' recession that has been brought on by only implementing austerity measures. Hayek/Friedman supply side (aka trickle down our leg) economics has been shown to be a complete failure.
It is your philosophy that has failed, commander, empirical data proves it.
The housing problem would have been solved by now if the government had stayed the hell out of it. This is not the first time homes have been under water because of a change in the housing market. The market has always recovered and will again if we just quit interfering, especially the government. Where does it say that when one buys a house it must appreciate in value or the government will make up the difference or the bank has to adjust your loan?
This is just another political ploy by the Obama Campaign to try and get a few more votes. If Obama and the democrats are so concerned about people affording the house payments, they should have been working on getting jobs, and the economy instead of wasting billions on a stimulus programs and wasting a year on the ACA, which the Supreme Court will probably overturn.
Yes let's just let the rich do to us what they always do.
Let the poor build up some equity in a house and then market crashes and the poor loses everything the rich buys it up for a penny on the dollar and then they get even richer when they rent or sell your house back to you.
That was the Romney plan let the housing market crash let the rich buy them up for nothing.
We as Americans are not suppose to notice what happens. Just like in a big game of monopoly and the poor always loses.
VOTE FOR AMERICA...VOTE FOR A DEMOCRAT 2012
AF, that is the stupidest remark I ever heard. Since when is anybody guaranteed that house prices will constantly increase and if they don't Uncle Sugar will help you? Prices go up, prices go down, get used to it. If you don't like that the price you paid might decrease in the future then don't buy a home.
sfcret
You are asking a lot of poor old, Americans First. You really think that he/she is mature enough to know that choices you make in life have repercussions !
We will all be Americans Last if we allow our country become the NANNY STATE that these lame brains think is a God send.
So how about those of us that did not buy more house than we could afford but are struggling? If you don't owe more than the house is worth your screwed. They WANT YOUR house because they will make money on it! This is just a bunch more BS to steal more money from taxpayers and give it to the banks that will get stuck with a loan for more than the house is worth!
my - this program would definitely help you - as it would others who did not buy more than they could afford. By making it possible to re-finance, you would have lower monthly payments and not be hit so hard by your mortgage. That's the point of the program.
Will the government forgive back taxes owed to the government as easily as they will forgive back payments owed to a private lender?
Why are they under water especially the Mexican with the highest rate? Because Obama put them their with his games and so called bail outs. In Fact, it was Clinton and Freddie and Fanny that started it all. These are facts you will not hear from the Unions today on how bad teachers are in Black schools and can not be fired. In fact, the best school system is now New Orleans because of the Hurricane and the Unions can not get back to destroying lives of minorities that we need just as anyone we need in America today to compete with China and the new capitalistic countries Germany and Korea.
We need teachers to be held accountable or how will they learn to compete?
What we have with Obama is socialism that makes people of all races lazy without goals and hate each other. America today can not compete with China or Germany only France and Spain. Obama used drugs and cocaine in collage and the news talks about a child in 1962. We need to teach children to think outside the box not just republican or not just democrat, forget color we are all humans.
We need people to be independents not followers of their own race haters that make money by keeping their own people in chains. Marx is laughing at the press in his grave and Dr. King is crying. The Government is wrong, the press lies, and the president and Vice President are killers of your children. Sad.
Giving food to hungry children is really a bad thing. And meals on wheels for the home-bound elderly what a waste of money. And taking care of our wounded soldiers is a waste of our countries time and money.
The only important thing to the republicans is to give more tax cuts to Romney and his rich friends.
Never forget the republicans will fight for every child to be born just so they can starve them to death after they are born, that is the republican christian way.
Even the Catholic Church is standing up against the Ryan/Romney/Rubio budget as it is cruel and unusual punishment for the poor.
While the republicans are against aborting the unborn they think it is just fine for you to take a gun, stalk a child, kill them and claim self defense in the name of your gun rights.
You can even kill two born people robbing the house next door who never threatened you and the republicans claim it is your constitutional right to kill them and you get away scott free.
As a republican you can even start a war based on lies. Have thousands of your already born children die and many thousands of them maimed for life fighting in a war started on lies. Republicans seem to think that apparently is just fine to kill the already born.
But you had a lie to repeat. That is all the republican have is lies and more lies. Just like Romney now wants to take credit for saving the auto industry. Lies and more lies.
All the republicans need now is people dumb enough to believe and repeat their lies and they found one in JG, right?
.
Obama's poll numbers show how disgusted Americans really are with all of his so many costly disasters ....
Obama surely isn't going to fool nearly as many Americans as he before ....
bigbenalaska - and yet he'll win in November. Really gonna bum you out, isn't it?
President Obama does not need to fool anyone.
It is Romney trying to fool everyone with his claiming credit for saving the auto companies when we all know he wrote about and wanted them to go bankrupt.
Then after the state republicans passing one law after another restricting women's rights the republicans are trying to fool us into believing they are for women's rights.
Then after in 2010 republicans fooled the public with the promise of jobs, jobs, and more jobs. What a surprise no jobs.
No one needs to fool you big ben, you have already been fooled by the party whose only ideal is to bring another recession to America on purpose.
AmericaFirst,
By your post & the name only suggest that you are a phony like our president. Such a fool and the disappointment will only begin come November. Get back in the welfare line where you are amongst your own kind.
It is obvious you are no physic.
You don't have a reasonable argument so you just start calling me names. Wow, color me impressed.
You are the type of person that trust republicans. All hate and no brains.
We may be republicans and we may be democrats, but we all should be AMERICANS FIRST.
The thousands of Mormons who served in Viet Nam, like most of us who served, volunteered for service. It is another, lost, fact that most who served in Viet Nam were not drafted. Though many were drafted, most volunteered for military service. Thousands of Mormons, Baptists, Catholics etc., etc. volunteered to go. Thousands of others were drafted. Thousands of others chose not to go at all. I had friends who I wish never volunteered. The choice to continue was taken from them in a morter barage or other killing or maiming incident. I chose to serve, I was there. Where were you who so freely make judgements against others?
Mormons like Romney thought the Ryan budget was marvelous.
Do you? Considering that the republican plan is to take from recovering wounded veterans programs to pay for more tax cuts for Romney and his rich friends.
I am not against their religion, I am against their lack of it. Even the Catholic church is against the Ryan budget because of the pain they can see it will cause the people of our country.
Sounds like the guys you fought with had much more religion and belief in your fellow man than any republican in power today.
I am from the Vietnam era and I watch what our government did to our returning vets and how many were homeless.
Well the republicans just voted to do that to our veterans again with the Ryan budget. They have to pay for the tax cuts for Romney and his rich friends somehow.
You know, the American Veterans should organize a movement called the OWZ , Occupied War Zone. These brave men had and still have a crystal clear agenda, it was and is, the fight for the right to live free !
Thanks to our veterans we are able to make the every day decisions for ourselves, whether they turn out to be good ones or not.
If this is actually a program to help "responsible home-owners" refinance their mortgage then that's a good thing. If it is the usual Obama plan of smoke & mirrors to "bail-out" the irresponsible family that borrowed beyond their means for a dream home they could not afford during the Clinton admisistration then no....it only continues to hurt the already bloodied real-estate market.
The best thing Obama can do for the economy and housing is to get out of Romney's house early and let Romney take over now. We need someone that knows what they're doing and that sure as he!! isn't Obama.
Right, like following the same policies that got England into a second recession is the right thing to do?
If you could think past your hate you would see what the republican plans will do to our country.
Just look at Wisconsin and all that Governor Walker has done to that state in the name of austerity and tax cuts for the rich and they now have the worst job lost in the country.
Are republicans so dumb they would vote for another recession?
AF , Yes they are .
Let's elect Romney. Then we can return to the terrific economic policies of the Bush era. You might remember the banking disasters and collapses, the bail-outs, the housing market collapse. Those were such good times. Now those greedy laborers who once earned $19 or $20 an hour are working for minimum wage and losing their homes. It's what they deserve. What right do they have to make a living wage? Their greed impacts on the size of the bonus the really deserving CEOs should be getting. All these people do is whine and whine, expecting hand-outs from their employers who have generously provided them with back-breaking labor at minimum wage and no medical coverage. They certainly don't deserve access to health care. If they had planned properly, they could have invested in Bain Capital and then when Romney closed down their factory and outsourced their jobs, they could have lived on their investments. And poor people don't need health care. They might use it to buy contraceptives, which would be a terrible sin. It is their responsibility to bring lots more poor and desperate people into the world so they can become the minimum wage earners of the future. College should be reserved for the rich. Why waste a good education on a wage earner? It would just give them ideas above their station and lead them to believe that a citizen of this country should be paid enough to live on. How ridiculous is that? The good thing about keeping contraceptives out of their lazy, greedy little paws is that they will produce so many children that it won't really matter if half of them die for lack of food or medical care. It's not as though the working class is anything like us. They are capable of the finer human emotions like loving their children, so a loss or two won't really bother them. Vote for Romney, the road back to the Bush era and financial gain for the rich who actually deserve all those bonuses.
Thanks! LETS go back to 4 percent unemployment and 300 billion dollar deficits! not 2 trillion dollar deficits and 14 percent unemployment!
Romney2012
It still amazes me how only the real informed left post comments on issues that really matter. I enjoy reading the opinon and educational response to my right wing comments. Please tell me you have some one else. Obama is not the answer in the next 4 years.......
The answer sure isn't Romney. To quote Adam Smith talking about 'dealers' (i.e. businessmen):
"The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the publick, who have generally an interest to deceive and even to oppress the publick, and who accordingly have, upon many occasions, both deceived and oppressed it . . ."
From "The Nature and Causes of the Wealth of Nations", Adam Smith, book 1, chapter 11, part 3.
Romney economics = Bush economics on steroids. Bad for the economy, bad for the country.
Something just doesn't make sense here.
The example states that the Kellers are "current" on their loan, but have "fallen behind" because the value of the home has dropped below what they owe on their loan.
(????????)
How can you be "current" , and "fall behind" at the same time??
Also, What does the market value of the home have to do with your making the monthly payments??
This article doesn't even begin to make sense.
Amusing he is on a heavy fund raising trip and stops by 1 place and states we got to get this done.
Wow what world does Obama come from? Out of the box with gays as he needs every vote he can get as he will need it.
Sorry anybody but Obama in 2012, hell a door knob would command more attention and leadership at this point.
while obama has dodd frank strangling business and not allowing small business loans. this guy is such an idiot!
Romney 2012
Romney and Republican theory is to stop recovery in its tracks. No matter how capitalism really works and what history has taught us, Republicans are still obsessed with priming the bucket instead of the pump.
What ever happened to personal responsibility? If you signed for a loan on a property you could not afford then you should lose it. The left thinks there should be no pain in life. If anything happens that is negative, Uncle Sam should just pick up the tab. Here is the kicker!! The government is out of money. Use Romney's means test. If this supposed solution worth borrowing billions more from China? Did the first two programs passed under Obama really do anything to solve the problem. Just promised these people anything to get elected. Doesn't matter if it doesn't work. If you can't afford to pay the mortgage now, how is a little lower interest rate going to help?
Poor deluded liberals. Guys, your man had a majority the first 2 years of his Presidency but instead of helping out the poor taxpayers, he chose to make history and give us obamacare. Now almost 4 years later, people are starting to realize what a train wreck this man is. As for the people blaming the GOP for the housing collapse, I suggest you get on YouTube and research the DEMOCRATS who thought it was a good idea to lax the lending rules, not the GOP. Fact of the matter is your community organizer is going to get his bu## handed to him come November. And liberals dont forget, soon Obama is going to pay for your mortgage and give you free gas too!!
NYCL when will repubs stop telling that lie ? Its been refuted about a zillion times .That super majority you say lasted for 2 years .Actually lasted for about 2 functional months . If it had lasted for 2 years ,we would not be having this conversation .
I wonder how long it will be before this story gets pulled. Go to CNBC and see the story about the couple that is being used by the administration - They bought the home for $127K about 14 years ago and reportedly per the report had a $127K mortgage. They did a cash out refi in 2005 when their home appraised for 250K. They used $51K to pay down some business debt which resulted in a $168K mortgage balance. Had they not taken out money and paid on their existing mortgage, they would not be underwater today per the report. Decisions have consequences.
I thought we already fixed this by giving nearly a trillion$ to the banks. Good thing they didn't use that money to pay down mortgages for folks who were never in default first so that it could help us. After all, the banks still get their money and those of us paying the bill would have still gotten some benefit. Couldn't have that now could we. Instead, we have a huge foreclosure opportunity for those parasites to buy low and sell high later. Halleluia!!
This is not a fox news site lotsa #'s why would the story be pulled ?