July 14, 2009 5:04 PM
Obama considering Landlord-in-Chief option
Okay, I gotta admit that I've had time to blog but just feel so overwhelmed with how the Democrats play their emboldened hand that I just don't know where to begin.
How about this breaking news?
Obama mulls rental option for some homeowners
NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.
As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said.
Let's get this straight: the government has taken over a large segment of the banking and auto industry, is trying to seize control of health care, and now wants to wheedle its way into the housing market?
Would you want the government as your landlord?
Hmmmm...and wonder if the government would have to comply with all the Cap and
Could it be any clearer that the more people expect the government to take care of them, the less freedom they have?
Posted in Obama Nation | Permalink
Comments
Just when you think Obama and his cohorts couldn't get any creepier...
Posted by: Rachel | July 14, 2009 6:32 PM
I occasionally listen to NPR's Planet Money podcast. A couple of months ago they had a piece about two guys with just this business plan! They gathered capital, used it to buy homes from people who were about to be foreclosed on, and rented the homes to the previous owners. It was really a great idea, ideal for all involved. The kind of idea that could turn around all the foreclosures, but they are just two guys in New Jersey and there are millions of foreclosures.
I think it is fabulous for the private sector, not so much for the government. I do not want Barry for a landlord.
However, if they are handing out mortgage payments (for my home that sits empty 600 miles away) I will gladly accept. Not that that will ever happen since we don't actually live in the house any more.
Posted by: sara | July 15, 2009 2:24 AM
