Thursday, April 1, 2010

Woo Hoo! Good Bye Mortgage! Thanks Barry.

Update: Good Ol Uncle Sam is going to retroactively pay my mortgage for the previous nine months (since I've been unemployed),, AND pay it going forward for the next six months (because of the unemployment rate of the State of Washington)!!!! Gotta Love It!
Add to that the 40K I'm making on unemployment! LIFE IS GOOD! REDISTRIBUTION IS GOOD! I feel sorry for all those shmucks still working for a living. I think I may start voting Democrat....

The Obama administration plans to overhaul how it is tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday.

Banks and other lenders would have to reduce the payments to no more than 31 percent of a borrower's income, which would typically be the amount of unemployment insurance, for three to six months. In some cases, administration officials said, a lender could allow a borrower to skip payments altogether.

The new push, which the White House is scheduled to announce Friday, takes direct aim at the major cause of the current wave of foreclosures: the spike in unemployment.

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