What Has Happened to America … “Are You an Idiot to Keep Paying Your Mortgage?”

America was built on the hard work, perseverance and responsibilty of generations and generations of people. Individuals faced tough times and the road bumps of life and over came life’s issues, trials and tribulations because they were responsible and wanted to succeed. There use to be a time when taking the easy way and especially fradulent way out was looked down upon.

Today, can that still be said to be true. In the, as News Busters calls it the “You have got to be Kidding Me” moment and as we just like to say WTF … the San Francisco Chronicle actly had an artice advocating for people to stop making payments on their mortgage so that they would qualify for the government bail out package. Some how if one buts too much house and one they cannot afford they are supposed to be bailed out and put and even heavier burden on tax payers and responsible home owners who pay their mortgage. Unreal.

From the San Francisco Chronicle: ‘Are you an idiot to keep paying your mortgage’?

Should you keep paying your mortgage?

If you have significant equity in your home, absolutely.

If you don’t, it’s getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay.

Last week, the government announced a program that will substantially lower payments for many homeowners who have little or no equity, but only if they are at least 90 days delinquent.

Here is how one qualifies for this program that will be abused just like ever other government hand out or entitlement. Go to NewsBusters and read more on the ridiculousness of the plan and the program that is destine for abuse.

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Posted November 17, 2008 by
Bizarre, Media, mortgage, Real Estate, WTF | 34 comments

Obama’s Spreading the Wealth Socialist Plan … To Pay for his Voters Gas and Mortgage

In the end the Obama campaign is all about a hand out and a further dependency on the government.

Sharing your money is neither patriotic or neighborly, it is socialism. Every day in America people take the personal responsibility to donate to charities by choice, not government force. What does Obama have against the American Dream and Americans right of choice and prosperity?

This is hardly the American Dream that we grew up with, let alone our parents and grandparents. Nanny government is never what our Founding Fathers ever envisioned.

The American dream has always been to work hard, save your money, and you to can strive for excellence and be rewarded for your determination and effort. Who knew that in today’s America, according to Barack Obama and his followers, that your hard work and effort is not meant to benefit your family. In Obamunism your hard work, blood, sweat and tears is meant to pay for some one else’s gas and mortgage, not your own.

Welcome to the socialist world of entitlements where personal responsibility means nothing. Its about government forced charity and the buying of votes and an election.

One might ask the Obama supporter in the video and all that subscribe to Obumunism the following question. Why is it that Barack Obama cannot seem to personally help out his own family with his own wealth, yet Obama is perfectly comfortable taking, spending and sharing your wealth with others.

 OBAMA IS GOING TO PAY FOR MY GAS AND MORTGAGE

Another must see video … how many people actually believe that if Obama becomes President of the United States actually believe that she will not have to pay for gas anymore or have to pay a mortgage. The Obamamessiah will pay for it all with a wave a of a wand and the sprinkling of some fairy dust.

 Peggy Joseph … all my bills will be paid by the Obamamessiah and I will have no personal responsibility.

McCain Finally Brings a Gun to a Gun Fight and Hammers Obama on Character, Honesty and Blasts Barack & Democrats for Fannie Mae Failure

The Obama, Democrat lie has gone on far too long regarding the financial failure of Fannie Mae and Freddie Mac and who was to blame. How could McCain be to blame when he was calling for regulations and oversight as Democrats blocked his efforts?

FINALLY, FINALLY THE MAVERICK EMERGES … John McCain finally takes the gloves off and tomorrow nights Presidential debate in Nashville, TN stands to be a battle royal. As Wake Up America says, Its about Damn time.  Michelle Malkins echos, “Maybe McCain does want to win: He finally attacks Obama on Fannie/Freddie”. A word of wisdom to the McCain campaign … don’t stop the fight until the fight is done.

Read the following remarks from McCain’s campaign stop in Albuquerque, NM. McCain blasts Obama and sets the record straight on the failing of Fannie Mae. Maybe Americans would be interested in what really happened and why it failed.

Senator Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed. But the truth is I was the one who called at the time for tighter restrictions on Fannie Mae and Freddie Mac that could have helped prevent this crisis from happening in the first place.

Senator Obama was silent on the regulation of Fannie Mae and Freddie Mac, and his Democratic allies in Congress opposed every effort to rein them in. As recently as September of last year he said that subprime loans had been, quote, “a good idea.” Well, Senator Obama, that “good idea” has now plunged this country into the worst financial crisis since the Great Depression.

SOME STRAIGHT TALK FROM JOHN MCCAIN

My opponents touchiness every time he is questioned about his record should make us only more concerned. For a guys who has already authored two memoirs, he is not exactly an open book. It’s as if some how the usual rules don’t apply, and where other candidates have to explain themselves and their records, Senator Obama seems to think he’s above all that … All the people want to know is what has this man ever actually accomplished in government?

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Full Contact TV: Bill O’Reilly Blasts Rep. Barney Frank, Chairman of the House Services Committee, For His Roll in Failed Fannie Mae-Freddie Mac

LET’S GET READY TO RUMBLE … Welcome to FCT, Full Contact TV

Tonight on The Factor, Bill O’Reilly ripped Barny Frank, House Representative and Chairman of the House Services Committee, for his roll in the failed Fannie Mae-Freddie Mac scandal. WOW, this is must see You Tube!!! Watch what happens when Barney Frank tries to lie his way out of what he actually said. Make no mistake who was to blame for these financial disasters and who looked the other way and ran cover while Fannie and Freddie sank deeper into total failure.

O’Reilly calls Frank a coward for not being man enough to own up for his part in the Fannie Mae-Freddie Mac scandal. Just another example of a gutless politician who maintains his power while screwing “We the People”.  Grab a drink and some chips and enjoy this beat down.

Starting five years ago, when Frank rejected Bush administration efforts to clamp down on Fannie and Freddie, claiming they were – quote – “not facing a financial crisis,” dismissing fears as exaggerations that would “pressure” the lenders to cut back on housing loans to those in need.

Barely 15 months later, with Fannie and Freddie engulfed in scandal over the same “terrible mistakes” Frank so abhors in the private sector, he was conceding they might need to be “better regulated,” but “not at the expense of housing” loans.

Fast forward another year, and Frank was still fighting off efforts to curb Fannie and Freddie’s borrowing, rejecting a regulator’s bid for greater authority, and clearing the way for larger and more lucrative loans, all by way of resisting Republican “extremism,” Frank said.

August of 2007, another push by regulators for more oversight is dismissed by Frank, now Chairman of the House Financial Services Committee, as “inane.”

So, is Barney Frank blameless for the Fannie-Freddie fiasco?

Sorry, congressman, the Spin-o-Meter knows a whopper when it tastes one.

 Barney Frank on Fannie Mae and Freddie Mac in 2003 discussing oversight. As the Gateway Pundits states, Frank’s comments concerning Fannie Mae and Freddie Mac might actually be considered funny, it it didn’t wind up costing “We the People” $700 billion.

That is, in my view, the two government sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis. We have recently had an accounting problem with Freddie Mac that has led to people being dismissed, as appears to be appropriate. I do not think at this point there is a problem with a threat to the Treasury.
 
I must say we have an interesting example of self-fulfilling prophecy. Some of the critics of Fannie Mae and Freddie Mac say that the problem is that the Federal Government is obligated to bail out people who might lose money in connection with them. I do not believe that we have any such obligation. And as I said, it is a self-fulfilling prophecy by some people.
 
So let me make it clear, I am a strong supporter of the role that Fannie Mae and Freddie Mac play in housing, but nobody who invests in them should come looking to me for a nickel–nor anybody else in the Federal Government.

Change We Can Believe In … Judicial Watch files Complaint with FEC over Obama’s Discounted Mortgage with Northern Trust

More Change that We Can Believe In … Sounds like the same old political song and dance.

The Hill is reporting that Judicial Watch has filed a complaint with the Federal Election Commission (FEC) and the Senate Ethics Committee against Democratic Presidential candidate Sen. Barack Obama over a discounted mortgage that he received from Northern Trust. Isn’t this what Obama supposedly rails against, the preferential and special treatment of politicians? Did Obama get a Countrywide-like sweet heart mortgage deal that John Q. Public would never have been provided?

Judicial Watch, a conservative legal watchdog group, filed the report after The Washington Post reported that Obama received a discount on a mortgage for a Chicago home valued at $1.65 million. The complaints said the Illinois senator received a loan at the interest rate of 5.625 percent, which Judicial Watch says is lower than the standard rate of between 5.93 and 6 percent indicated by surveys.

The complaint asks the Senate Ethics Committee to investigate whether the favorable rates constitute a prohibited “gift” under Senate rules.

Oh, and by the way he complaint also notes that Northern Trust employees have given $71,000 in donations to Obama’s campaigns. Hmm … There is some change we can believe in.

As Red State points out … “According to Judicial Watch, Northern Trust Vice President John O’Connell essentially admitted the company provided Obama preferential loan terms because of his position in the U.S. Senate”.

Aruba Triple Murder: Son Eugene Lampe Confesses to Triple Murder … Compare & Contrast to Natalee Holloway Death & Disappearance

What a difference a crime makes and who committed the crime. It would appear that Eugene Lampe initially made false comments to the police that made them skeptical of his initial statement. Did Eugene say that he dropped his 3 murdered family members off at the Holiday Inn as Joran Van der Sloot had once done? Did Eugene Lampe say he left his murdered family on the beach?

Two crimes … two drastically different outcomes. Yes, the crimes are different in nature; however, why would the ALE not have initially believed the story in once case but in another allowed the fraud to continue?

In the end it is nice to have friends in high places that can exert power and influence.

Son Eugene confesses triple murder (Amigoe: April 7, 2008)

Also on Saturday did the technical detectives search the house of the Family Lampe in Macuarima.  Son Eugene has meanwhile confessed having killed his family.

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Iraq Study Group Releases Report – A Genuine Recipe For Disaster

The Iraq Study Group has put out the report that was promised, and it contains all that could be expected by politicians and diplomats. Lots of weasle wonkish words all balled up into an unmitigated miasma of mush. Instead of providing a concrete plan of action for the country that could be either accepted or dismissed, the report worked to find the middle ground.

Isg_report_coverAnd we all know that the middle ground is the only tried and true recipe for failure. Sit in any corporate meeting and once the group tries to find consensus that will please all constituancies the words cluster tend to come out of the mouths of those attending said meeting as soon as the doors open. 

And if you do not believe me, look past the jump page and see all the other bloggers talk about this from either side of the aisle. I am not alone in this assessment of Baker and Companies report. And if you are really eager to read this rubbish, we have a link here.

Update: We are Scared Monkeys ,,, much better than Surrender Monkeys. PS NY POST – If you need Photoshop help, call me. I know Klaasend could have done a much better job.

SurrenderMonkeys

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Housing Prices Drop While Sales Increase and Rents Rise

4bedroomThis sounds like a market working perfectly. While the rest of the media is clamoring about the real estate market experiencing its biggest drop in home prices in 35 years, the smart money was watching 2 other statistics. Rental prices are rising very quickly and homes are selling at a higher rate than was to be expected.

So it sounds like a market that was oversold is correcting and demand is building up. To read more about how housing market economics work and more on todays housing announcement, go to the Real Estate Bloggers for the rest.

Posted October 26, 2006 by
mortgage, Real Estate | one comment

Watching The Real Estate Market and Wondering What is Happening?

Our  brother blog, The Real Estate Bloggers,  had some  interesting posts on the real estate market this week. If you are wondering what is happening in the real estate industry, give the site a look.

Sketch Released In Sarah Anne Walker Murder  Ã¢â‚¬” The Dallas area real estate agent that was murdered at an open house case is still ongoing. They have released a sketch of a person of interest.

  Sales Down – Prices Up – Real Estate Agents Nervous  Ã¢â‚¬” For those selling a home, remember that when your real estate agent is pushing you to lower your selling price, they may be doing so to make sure they sell something that month and earn a commission. For every 10,000 dollars in price that your home is lowered, they typical only make 150 to 300 dollars less in commission.

Mortgage Rates Dip For 4th Consecutive Week  Ã¢â‚¬” Sales should be picking up.

and last but not least.

Why You Do Not Want To Get Tenants Really Really Mad  Ã¢â‚¬” The internet is a very powerful entity to tell others when you are receiving poor customer service as one Toronto development is learning the hard way. This probably should also apply to real estate agents.

Posted August 19, 2006 by
mortgage, Real Estate | no comments

Real Estate and Mortgage Stories in the News

Worlds Top 10 Tallest Skyscrapers

The building of the tall skyscrapers has slowed in the US but in Asia they are building these tall towers like crazy. Some really interesting and beautiful architecture, take a look at The Real Estate Bloggers.

Merrill Lynch Looking to Buy Mortgage Company

With the rise in consolidation of the mortgage industry after a 5 year run of record profits, Merrill Lynch is looking to make a purchase in the industry.
(More)

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Posted May 13, 2006 by
mortgage, Real Estate | no comments

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