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Updated almost 15 years ago on . Most recent reply

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118
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Tom Bukacek
  • Real Estate Investor
  • Austin, TX
76
Votes |
118
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Obama's Main Streets Bailout Coming this Month

Tom Bukacek
  • Real Estate Investor
  • Austin, TX
Posted

The following are excerpts from an article on Reuters.com:

"Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth... The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011... Morgan Stanley is pushing a mortgage relief plan directly to Congress. On August 3, a top Morgan Stanley economist recommended to the Senate Budget Committee that Fannie and Freddie ease their lending standards to allow millions of Americans to refinance their mortgages."

Is this a real bailout for homeowners or just a well veiled bailout for the banks?

Most Popular Reply

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1,821
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Richard Warren
  • Real Estate Investor
  • Las Vegas, NV
447
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1,821
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Richard Warren
  • Real Estate Investor
  • Las Vegas, NV
Replied

Could it be that the Dems are in serious trouble and the election is 3 months away? Nah, that couldn't possibly be it.

:cool:

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