While You Look the Other Way, Obama Is Messing With Housing

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Statue of no liberty

Obama is up to something in the housing market and it can’t be good. His history tells us so. Obama wants to bring the American Dream of home ownership to everyone but his idea of how to attain the dream is not based on self-reliance but rather on social justice and redistribution.

He plans to keep the bailout in place as an eternal backup. If there is another economic crisis, the taxpayer will be on the hook under Obama’s new plan.

 

MAPPING

It was only last month that we discovered his administration plans to map every neighborhood in the United States so he can spread the wealth from the successful neighborhoods to the unsuccessful ones, especially if they are minority neighborhoods.

The Obama administration is doing this with a new HUD housing rule which will set up a long-term plan for redistributing resources.

HUD plans to provide data for every neighborhood in the country listing the access minorities have to local assets such as schools, jobs, transportation,and other neighborhood resources that help bring people into the middle class.

The plan will then develop long-term solutions to help ‘people gain access to different neighborhoods,’…’channeling investments into under-served areas.’ The mapping tool may guide development and zoning decisions as one example.

It won’t make people productive but it will set up a system for stealing from those who are.

 

HUD AND RADICALISM

HUD has been giving tens of millions of taxpayer dollars to radical organizations such as LaRaza, The National Community Reinvestment Corporation, and the National Urban League, allegedly for mortgage counseling. Their counseling entails organizing people to protest and riot around banks, demanding loans for minorities even if they can’t afford them.

HUD, under Andrew Cuomo, is the organization that helped lead to the collapse of the mortgage market by forcing banks to give loans to those who couldn’t afford them.

 

FANNIE AND FREDDIE, NATIONALIZED HOUSING

Obama has essentially nationalized the housing market through Fannie and Freddie. They are a cross between government-owned and private. The government took them over during the collapse of the housing market.

They are government slaves but their financial accounts are separate. They plan to pay the taxpayers back but they are doing it with funny money.

They are simply moving money around to make it appear they are paying the taxpayer back some of the money they owe us.

In an Enron-like move, Fan and Fred – government slaves as I said – are using clever accounting to re-create an asset that it can turn into cash and use to pay a bid dividend to an owner/sponsor – the Treasury – who are eager to pump up its finances, even if it is with funny money.

They are about to pay us $159 billion back with fake money they invented using an accounting trick.

They are moving money around and paying us back with tax credits on money they might make in the future.

 

MORTGAGE REDISTRIBUTION

Ed De Marco, a Republican, is the Acting Director of the FHA, and, as conservator of the public’s trust, he has pushed back on Obama’s mortgage redistribution scheme.

Obama and his far-left cronies at Media Matters et al have tried to fire him but he won’t leave because he wants to protect the taxpayer.

President Obama recently hoped to redistribute money from taxpayers to people with underwater homes in a principal reduction scheme. He unethically put extraordinary pressure on DeMarco, an independent regulator, to make it happen.

Obama wants to forgive the loans to redistribute wealth. It would be a mega stimulus without having to go through Congress.

Now Obama says he is receptive to abolishing Fannie and Freddie – who control almost all the mortgages in this country – and putting something else in its place. He is talking about private enterprise taking its place. Sound good?

The DOJ on Tuesday filed the first civil complaint against Bank of America and they plan to go after Merrill Lynch for their role in the mortgage crisis. They might pursue criminal charges. Is this solely about the economic meltdown or is it partly a warning shot across the bow of American banks?

It is the Obama administration that bullied banks into giving loans to minorities who could ill afford them. The government now admits that did happen.

Obama has long been a supporter of giving people homes even if they do not qualify for ownership because of a low income. How could he make this happen? Only through redistribution. Those who work will pay the down payments or part of the interest payments towards homes for the poor and more. Apartments won’t be good enough.

 

EMINENT DOMAIN AND OTHER TYPES OF HOME SEIZURES IN OUR FUTURE

Eminent Domain is popular these days and states have jumped  on board. The federal government has been using agencies such as the EPA to control or take over private lands ostensibly to protect gophers, wildflowers, goats and so on.

One mustn’t forget the government’s plan to seize underwater homes, declare them derelict, thereby lowering their value. They would then turn the “derelict” homes over to Mortgage Resolution Partners, who will work for a flat fee per house, and who will then sell the properties at a greatly reduced price. San Bernardino is already on it.

The lenders who gave these loans in good conscience would now take the entire hit for the mortgage collapse and the taxpayer would get to pay the fee to the shady government-connected people at Mortgage Resolution Partners.

 

HEALTHY HOMES ACCORDING TO THE GOVERNMENT

Obama also wants healthy homes for all through his government control of your home. He does plan to control what you do in your home through his  ”Advancing Healthy Housing: A Strategy for Action.” There are subsidies and entitlements involved in that as well.

 

Check out my latest e-mail from the White House:

 

The White House, Washington

Hey all —

Owning a home is at the very heart of middle-class security. It means a lifetime of memories — of family dinners, basketball in the driveway, cookouts in the backyard, and watching your children grow up.

Your home is also a tangible connection to your community — a critical part of the American identity. That’s why having a home you can call your own is a cornerstone of what it means to have a middle-class life.

Today, President Obama will return to Phoenix to talk about the progress we need to build on in the housing market — higher home values and helping millions refinance — and the opportunities still before us.

President Obama has a plan to build a more secure foundation for responsible homeownership. Check it out and forward it on so that others can get the facts, too.

It’s time to help hard-working folks fulfill their dream of buying their first home. We can help responsible homeowners refinance their mortgage, and make sure middle-class families and all of those working to get into the middle class are never again on the hook to bailout certain mortgage lenders for irresponsibility and bad loans.

And that’s just what President Obama outlined in Phoenix: commonsense steps that will help protect the middle class and everyone working to join it. So even as Washington gets bogged down by endless distractions and political game-playing, the President is focusing on what really matters.

But in the weeks and months ahead, we’ll need your help getting the message out.

We put together a graphic that helps explain the President’s plan for a more secure foundation for middle-class homeownership.

Click here to check it out — and then share it with your friends and family.

Thanks!

David

David Simas
Deputy Senior Advisor
The White House

P.S. — If you’ve got questions about President Obama’s plan, you can ask him yourself.

He’ll be answering questions about his plan tomorrow at 1 p.m. ET

Visit WhiteHouse.gov
If you click on the links, you will find this:
a_better_foundation_homeownership_01

If this sounds good to you, you just might not be reading with a discerning eye.

Obama wants to help responsible families refinance – could be his underwater scheme.

He thinks he can increase home values with immigration reform. LaRaza forced Bank of America and others to give mortgages to illegals in this country.

He wants to support affordability and access to housing. How is he going to do that? Redistribution?

‘Simplified mortgage disclosure forms’ are a cause for concern. In New York, they wanted to make certain poor a ‘protected class’ who do not have to release their financial records to banks.

Take a look at the others through the eyes of a redistributionist.

My favorite line is ‘align lender and borrower’s interests.’ Banks should start worrying.

We will have to wait and see but I have a feeling that whatever Obama replaces Fannie and Freddie with could be far worse than what we have now. I imagine Obama’s people are writing the legislation for this new plan as we speak from the White House, an unconstitutional approach he has embraced over the last five years.

Finally, Obama is okay with eliminating Fannie and Freddie and so are most of us, however, it will give Obama an open field to play in.

Look at Obama’s mortgage overhaul skeptically.

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