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Obama: If You are a Deadbeat But Likely to Vote for Me, I Will Pay Your Mortgage with Money from Other Taxpayers

August 13, 2010
Robert Wenzel

The Obama Administration today announced two programs providing additional support to help homeowners who haven’t paid their mortgage. In one program funds will be provided for those who are delinquent by at least three months. So if you are delinquent by two months, forget about dropping a check in the mail. Sit back and wait, it’s possible you may have one the Obama lottery.

And now… the rest of the story. …..

2 Comments leave one →
  1. Anonymous permalink
    August 13, 2010 11:57 am

    The Obama Administration just recently launched a government program to make mortgage loans available to the poor requiring only a $1,000 down payment to buy a house; that effectively amounts to renting with 100% government insured financing. Real Estate Brokers won’t work to sell a home when there is no equity to pay their commission. It is obvious many of these poor homeowners will walk leaving their home to foreclosure, bringing down home values in their community. If this government experiment proliferates, making mortgages to home buyers with $1,000 down, it will not only cost taxpayers billions covering no down payment foreclosures, it will force home values lower causing many Americans to conclude it economically unsafe to own real estate, crushing property values.

    The Obama government could effectively socialize home ownership, transferring homeowner equities to the poor, making homes so undesirable as an investment that once valuable homes—would sell and rent dirt cheap as poor housing. Government would no longer need to make $1,000 down payment mortgages—to the poor; government would have millions of abandoned homes to giveaway free or rent next to nothing. If Obama’s socialized housing proliferates, remember Obama’s words, “We need to level the playing field” as Obama appears intended to destroy American’s number one free enterprise investment, a Citizen’s home. That would include, residential apartment buildings. Most Americans’ savings have been the equity in their house. Once that is destroyed most Americans will have nothing. Historically when Citizens have little or nothing, many have supported a socialist or communist government. Dangerously, America has a Marxist in the White House that is now RED.

    The Government’s New Genius Idea: The Government’s New Genius Idea: Only $1,000 Down Payment For Poor People To Buy A House.

  2. August 13, 2010 8:22 am

    What is this teaching people, and more importantly what residence is this setting for our children. Are we generating a nation of slackers who sit and do nothing expecting everything in life without effort. I just do not comprehend this! What ever happened to the desire to achieve something in life. Our government is so corrupt it is a shame and disgrace to our founding principles and the American way of life: The American way is a lost concept with our government of the government for the government.

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