Haven’t seen this mentioned yet, though. During the Reagan years (if I remember correctly) a lot of people lost their houses because of “balloon” payments. The interest rates were kept low for a few years, and then they ballooned. A lot of people had assumed that their financial situation would get stronger over time.

The myth of economic “progress” as a natural trait of capitalism is dying a hard death.

Her released records showed an income of $ 166,000 and all charitable contributions totalled less than 5%.

BUT MONEY FOR HER CHURCH JUST SMELLS DIRTY.

that speech is included in this archive:
http://www.whitehouse.gov/infocus/homeownership/archive.html

you can see though, that 02 was a big year for pushing “home ownership”…

i swear i heard him say, on randi’s clip, something like “i have directed [fannie and freddie to make it easier)…” … directed, being the key word.

i could very well be mistaken…

John McCain and Sarah “my god can beat up your god” Palin represent more of the same mindless Bush bullshit, light on brains, heavy on bombs.

“Democracy means that anyone can grow up to be president, and anyone who doesn’t grow up can be vice president.”
Johnny Carson

http://blogoffanddie.wordpress.com
the mark of ‘the beast’ is just a bad haircut

http://www.hud.gov/news/speeches/presremarks.cfm
Is this the one?

2) How fair is it to homeowners who have a mortgage of $200,000, and are not defaulting on their payments, that the person who is defaulting gets a loan based on the current reduced value of the home? That would really piss me off.

You have described me to a “t.”

My wife passed last year, and I’ve been making the payments myself for the past twelve months, by working brain-numbing amounts of overtime. We originally got an adjustable rate, but realized it was a time bomb, and got into a bit higher, fixed rate loan.

If it weren’t for the OT, I’d be in foreclosure, though.

ABC: Palin on troopergate: nothing unethical. The article stresses that the firing was within her rights as governor, doesn’t mention that what she did was “unlawful” other than quoting Palin as saying what she did was NOT “unlawful”

CBS: Palin abused power ethics report concludes. Goes on to say that Palin “unlawfully” abused her powers.

NBC: Ethics investigation finds Palin abused power. First sentence says Palin “unlawfully” abused her powers.

FOX: Probe, Palin abused her power. Starts with the fact that the report found that her firing of Monegan was legal. Mainly stresses what the Republicans are saying.

CNN: Palin denies state report she abused power. Content mainly stresses what Palin and the Republicans say about the report.

I don’t know what the TV stations had to say about it in their news because I don’t watch the news. But the web reporting sure shows who is in the tank for the Republicans!

For months I’ve been saying that they should just put the interest rate back to where they were when people were paying their mortgges and the banks were making a profit.

It costs we the tax payers $225,000 for every foreclosure.

Put everyone’s mortage at 4 or 5% across the board. People will, therefore, keep their houses, it will create a ‘flat and fair tax’ that the cons are crying for, the banks will make a profit, and then the consummers with the extra few bucks will give an actual economic stimulus to the country by spending it.

Win-win-win across the board. And it doesn’t take a Harvard MBA to figure it out…

Well, the “overhead projector” is actually a planetarium projector for Adler in Chicago that millions of kids would use, but who cares about getting kids excited about learning? We need to propagandize to unprotect those evil polar bears!

that is a great link to truthfightsback. Thanks for sharing that.

Bilbo Hussein Baggins Says:
——————————————————————————–

So, what am I missing here?

You are forgetting that Republicans and even some conservative Democrats have an aversion to giving welfare to anyone that can’t afford it.

Some people just don’t make enough money to qualify for welfare, like oil companies and rich CEOs do.

OK. Homeowners are defaulting on their homes and going into foreclosure. Most are because they took out one of the “creative” loans lending institutions were pushing for a long time. Most of these loans had a clause that after 3 years or so the rate on the loan went up. McCain’s solution to this is all about refinancing the loan based on the reduced value of the home. I don’t know why that makes a difference.

If I have a $200,000 loan on my home and it’s now worth $150,000 it won’t affect me unless I try to sell my home. I’m paying a mortgage based on a $200,000 loan. So, lets take that $200,000 and see why so many homeowners can’t make their payments. If I got my loan at a teaser rate of 4.5%, my mortgage payment was $1013. Now if my bank raised my rate to 8% my payment will now be $1467, an increase of $454, and if my bank raised my rate to 10% my payment is now $742 higher. As you can see, for many lower income buyers that is an increase that will be impossible for them to make. Now, if my bank renegotiated my rate to the current average rate of 6% my payment would be $1199, less than $200 more a month than the old rate. Most people could probably handle that. So my questions are:

1) Why don’t we pass a law saying that the lending institution can’t raise their rate higher than the current going rate on a mortgage. The lending institution will make less profit off the loan, but at least they won’t be holding bad paper

2) How fair is it to homeowners who have a mortgage of $200,000, and are not defaulting on their payments, that the person who is defaulting gets a loan based on the current reduced value of the home? That would really piss me off.

So, what am I missing here?

What does a church need with a lump sum of $25,000 exactly?

Aren’t churches supposed to be humble and some what impoversished to show that their faith is strong and true in the face of difficulty?

Time to start cutting their tax exempt status. Let them go political. It’s precisely why people in Europe have walked away from religion and are largely secular. Let’s let the same thing happen here. Please. Enough of the damn theocrats already!

Beats me…

i have been searching, with no luck, for the transcript to the parts of a speech i hear on randi rhodes’ show. she plays it almost daily, but has not linked to it on her site. she says it’s from 02… your’s is close. i made notes – these are the important parts i’ve been using to search:

i know he says that he has “directed” fannie and freddie to increase loans…

even to people with “bad credit history”…

he states that these first time buyers don’t have to settle for a “lousy home”

that it can be “just as nice a house as anybody else”…

the closest i could get, at whitehouse.gov, is this speech, but it doesn’t mention the “directed” statement, and the other parts are a bit different (he doesn’t mention Kirbyjon Caldwell in what i’ve heard, as in the linked one):

http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html

maybe someone with better search skills can come up with it…
i’m beginning to wonder if it hasn’t been scrubbed – because, as your comment proves, bush himself did this.

WilyTrax.com