According to the Fast Money gang on CNBC from August 5^th, 2010 it appears that the Obama Camp may be stirring the pot with another round of Eternal Hope for some homeowners that are underwater on their mortgages.  If you watched the program it was debated and made blatantly clear that this is very bad policy for our country.  Never the less Obama is simply a politician and we all know what that equates to.

 

At the heart of the issue is FNMA & Freddie Mac.  The early discussions are for the administration to figure a way to allow the government sponsored mortgage investors to forgive up to 25% of a homeowner’s mortgage.  This is in complete defiance of present and existing contract law that ties our entire system at the core.  This is also in complete defiance of objections from Tim Geitner as the Head of The Treasury Department and Larry Summers.  Apparently Obama wants to work some inside deal on his own that is strictly political that will selectively help certain homeowners at the cost of roughly 200-300 billion plopped on to the deficit. 

 

What is this?  Is this policy or grand larceny against all Americans?  How is this different from the Summer of 2008 when the administration in power said that they were going to push loan modifications and that the lenders better forgive debt to make everyone happy and promote a welfare class of losers by reinforcing that the government will pay for their mistakes.  It’s like there are not losers and there is not responsibility associated with ones actions.  A third place trophy with three in the competition makes you a winner. In retrospect we must not forget Jamie Diamond of JP Morgan’s public response to this outcry.  “We are not going to do that”.  We are not going to forgive the debt…”Pack Sand”.   If you recall that was pretty much the end of the political grandstanding.  The politicians said “Oh”.  Its contract law dummies.  Other people and investors own the underlying mortgage instruments.  Hello! 

 

Now we are on failed Obama program number six and this new animal looks like the beginnings of a number seven. Didn’t I tell you to expect a number eleven?  When the first couple don’t work and recently 40% of participants are voluntarily dropping out of Obama’s latest program because it’s “Bunk” it’s time for our leader to come up with a new spin.  Do you see the ongoing theme here that I have been blogging about for almost two years?

 

This is all about the Prophecy of Hope.  The government needs to keep people wrapped tightly in good moral character so they don’t dump their problems on their lenders.  Do the right thing while we tax you.  Be a good conformist.  Here is another bone for you.  Even though a Short Sale will get you out of the mess with all the debt forgiven we would prefer to give you another bone and take some of you from 50% underwater to 25% underwater on your home.  Yes the smart ones will soon after figure out that they are still renters will full ownership responsibility but who cares.  The people are stupid to the politicians and they can be manipulated.  Nothing has changed.  Just wait when you see program number eleven.

 

What is your way out of a housing problem?  Do you owe significantly more to your lenders than your home is worth and are you facing an upcoming rate adjustment that is only going to make the affordability issue worse?  After you consider your situation you need to then ask yourself this question.  Do you want a fair and equitable opportunity or would you prefer to be lied to and led down the conformist path?  It’s a personal choice at the end of the day.  How about a Real Estate Short Sale done by a group of experts that will get you out from under the property with the majority of your credit, assets, and family well being intact?  The Short Sale is the only fair and formidable weapon to give you the opportunity to start over.  What you decide today for your family will determine where you are in one to two years out.  I am not a commissioner of hope but loan modifications, government programs, foreclosure, and/or bankruptcy are not the answers if you are looking for a real permanent solution.  I don’t understand how people can be constantly deceived and manipulated by the politicians and the lenders for their own benefit.  It’s a crooked world. 

 

Come see me today just to investigate a Short Sale over a Loan Modification and other potential paths at www.thenegotiatedsolution.com .  Stop a foreclosure dead in its tracks if it has gone this far.  Find a solution that will give you your future back.  Don’t you dare contemplate sacrificing your children’s college or your retirement to make your lender happy.

 

My message to you when I hear the warning signs of yet another Obama spin is to get on board with a real solution and let Obama blabber. He is going to do it anyway.   November will make his group accountable.  I can’t wait for that sideshow. 

 

Blogging from the Front Line of the Housing Crisis.

 

GHunter

Submitted on Friday, August 6th, 2010 at 8:59 am