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Why Republicans don't want you to re-fi you're home

Right now more than 11 million Americans are underwater on their home mortgages - meaning they owe more money than their house is worth. There's an easy solution. Say somebody has a house with a $200,000 mortgage on it, but because of the Bush Crash the house is only worth $150,000. If the bank were to write down the mortgage to $150,000, then the homeowner could refinance at today's low rates, or sell the house - both of which would massively stimulate the economy. Banks don't want to do this because they'd have to come up with the $50,000 - but there's a mechanism already in place to take that load off the banks - and that's for Fanny or Freddie - who backstop about 80 percent of US home mortgages - to take the hit. There's even a law that lets them do it - it would get the economy up and running immediately and overnight. But Republicans in the Senate are blocking it - and they're succeeding because they have an inside man on the. http://rt.com/news/

(from voter fraud to mortgage fraud whats next for the gop?)

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Added: Mar-14-2012 Occurred On: Mar-14-2012
By: highsociety
In:
Politics
Tags: Why, Republicans, don't, want, you, to, re-fi, you're, home, usa, politics
Views: 583 | Comments: 33 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Ludicrous. Freddie and Fannie don't take the hit, we the taxpayers do. Idiots. Yep, lets just give them a few billion more..Pfft RT. Makes more sense to give the 50k to the homeowners directly and I don't think that is a good idea.

    Posted Mar-14-2012 By 

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    • Comment of user 'Zardoz003' has been deleted by author (after account deletion)!
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  • who gives a shit . lmao at the sheeple and their 2 party system. its your fault, NO its your fault!!! lmao wake up america.

    Posted Mar-15-2012 By 

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    • @BoboShakes BOBO stay out of this , you have to actually own a home to give a shit.

      Posted Mar-15-2012 By 

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    • @soilentgreene ooooooh you got me! actually i own my home with more than enough land to sustain my family, without having to pay property taxes. dont hate because youre jealous, slave!

      Posted Mar-15-2012 By 

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    • @BoboShakes why would I hate you,or more important jealous, do you see ME making comments about news pertaining to mexico or it's citizens?try looking in the mirror pal.

      Posted Mar-15-2012 By 

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    • @soilentgreene well, being an american citizen i have just as much right to comment of the fucked up government of the usa and the stupid ass people who cant think for themselves, theres a reason i moved south. but you can continue to hate on me because of my location, its typical of you americans, i just LOL. haha.

      Posted Mar-15-2012 By 

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    • @BoboShakes how'bout you just concern yourself with the bullets whizzing over your head from drug cartels, and to go back to your original comment''who gives a shit''answer: not you ...you do not own a home in US as I have said before, so lets stop this dancing around, bc this does not have anything to do w/ you.Btw if it's so great over there , tell your cousins to stop jumping over..do them that favor.

      Posted Mar-15-2012 By 

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  • Ed looks like hes into all kinds of twisted shit

    Posted Mar-15-2012 By 

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  • It wasn't a Bush Crash you dumb shit. Congress, and people like Barney, Fannie, and Freddie were more at fault for letting everyone under the Sun buy a house. Buy more Gold if Fannie and Freddie are allowed to buy up all the underwater mortgages because this just trashes the dollar more and more.

    Posted Mar-14-2012 By 

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  • Comment of user 'Zardoz003' has been deleted by author (after account deletion)!
    • @Zardoz003
      Damn. That's almost too stupid even for LL. How's the view from inside the rabbit hole?

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    • @Zardoz003
      Enjoy dumbass sweeping generalizations very often?

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    • Comment of user 'Zardoz003' has been deleted by author (after account deletion)!
    • @Zardoz003
      Missed the whole "sweeping" and "generalization" part didn't you? There is no "fit" in that equation. That's the point of a stupid, ad hominem, worthless post. Such a vapid bit of invective fits nothing. It is the one point at which you excel.

      Posted Mar-16-2012 By 

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  • "Fanny or Freddie", ROTFL :P

    Posted Mar-14-2012 By 

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