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Bush's plan for struggling homeowners

Discussion in 'Sports and News' started by Point of Order, Dec 6, 2007.

  1. Point of Order

    Point of Order Active Member

    1. FHA to increase advertising/public awareness campaign about private lender solutions.

    2. Call 1-800 number to seek help from same lenders that screwed you over in the first place (yes, he really did give out the 800 number -twice.)

    3. Blame Congress.

    4. Cut taxes.

    5. Punt.

  2. Pastor

    Pastor Active Member

    This whole list could be summarized into just one item:
    1) Piss off.
  3. Dangerous_K

    Dangerous_K Active Member

    Fuck 'em
  4. Point of Order

    Point of Order Active Member

    I think it was also a subliminal advertisement for Barack Obama. The 800 number Bush read TWICE like an infomercial was 800-555-HOPE. That's 1-800-555-HOPE!

    (Note: I don't know what the middle three numbers really were so I just put in 555)
  5. poindexter

    poindexter Well-Known Member

    WASHINGTON (Reuters) - President George W. Bush will outline on Thursday a plan to freeze mortgage rates for five years for many homeowners facing sharp interest-rate resets, an industry source said on Wednesday.

    The source, who is familiar with details of the plan, said it would cover subprime loans originated between January 1, 2005, and July 31, 2007, with rates that are due to reset between January 1 of next year and June or July of 2010.

    The plan is primarily aimed at borrowers who can afford their existing rates and who are current on their payments, but who would face default when the rate resets higher.

    Among those borrowers, homeowners whose credit scores have risen since they took out their loan would qualify for "fast-tracked" loan modification that would hold their interest rate steady for five years.

    Borrowers whose credits scores had not improved could still qualify for a five-year rate freeze, but would face more scrutiny before receiving any modification.

    (Reporting by Patrick Rucker, writing by Tim Ahmann; Editing by Andrea Ricci)

    Talk to a subprime lender. Subprime borrowers are people who can’t pay anything on time.
  6. Point of Order

    Point of Order Active Member

    That's the punt.
  7. jgmacg

    jgmacg Guest

    What happened to the Invisible Hand?
  8. poindexter

    poindexter Well-Known Member

    It looks like when all is said and done 12 borrowers will qualify for the assistance.

    Not that I agree with the government bailing out people who make bad decisions in the first place.
  9. Point of Order

    Point of Order Active Member

    It pick-pocketed the congressional wallet.
  10. JR

    JR Active Member

    It was stolen by The Invisible Man.

    Last edited by a moderator: Dec 15, 2014
  11. poindexter

    poindexter Well-Known Member

    I love the idea that people plunged into shit they were clueless about when housing prices were skyrocketing.... Then look for assistance when things go sour. Another boot in the ass for actual, real personal responsibility for one's own actions.
  12. Point of Order

    Point of Order Active Member

    And he gave out the wrong number...

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