Obama Housing Plan

Judicial mortgage modification is included in the Administration’s Housing Plan being released today.

USA today says 7 to 9 million families will be helped by the Obama plan.

Unsurprisingly, $75 billion more of taxpayer money is called for the by the “homeowner stability initiative”.

The President will say banks and lenders must be held accountable, but why is he throwing billions more at them?

This is the second of six questions from Republican House leaders to the Prez about the program to address the foreclosure crisis.

Let them fail, I say, let the homeowners who can pay what the house is worth do so through Chapter 13 reform.

Of course, this is a proposal, and a new one at that.  Must pass both Houses of Congress before the President can sign it into law.

Let your Representatives know how you stand.  The Chapter 13 reform, backed by bloggers, on this site cost the taxpayers NOTHING.

The Republican Party has the chance to embrace this idea, and scorn more taxpayer money being given to the crooks who perpetrated the greatest financial fraud in world history.

“HAVE YOU CONTACTED YOUR CONGRESSPEOPLE?”
www.savehomewithbankruptcy.com/lobby.htm

Related posts:

1. Chapter 13 Reform Split From Stimulus Bill
2. What is the Obama Administration’s Home Affordability and Stability Plan?
3. Do I qualify for a mortgage refinance under the Obama Plan?