Comments on: President Obama Urges Congress to Boost Homeowners in ‘Healing’ Housing Market http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/ The latest Politics news and blog posts from ABC News contributors and bloggers including Jake Tapper, George Stephanopoulos and more. Fri, 21 Nov 2014 23:29:37 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: alpha smith http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32386565 alpha smith Mon, 13 May 2013 16:30:38 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32386565 The federal government is supporting a huge bloated bureaucracy with HAMP, MHA, and HARP. Tons of taxpayer money has been funneled to these programs with no significant results. The federal government is supporting a huge bloated bureaucracy with HAMP, MHA, and HARP. Tons of taxpayer money has been funneled to these programs with no significant results.

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By: Commonsenseparty http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32385589 Commonsenseparty Mon, 13 May 2013 14:25:48 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32385589 tmferretti | May 13, 2013, 9:56 am wrote: """"The American people’s biggest concern is JOBS and the economy""""" Tell Obama and his gun control agenda that. Several of the GOP attempts that passed the house would have helped the jobs and economy issue, but Harry Reid stopped them. The GOP wants the pipeline, but Obama stopped it. And you bich about the GOP? Hypocrite! tmferretti | May 13, 2013, 9:56 am wrote: “”"”The American people’s biggest concern is JOBS and the economy”"”"” Tell Obama and his gun control agenda that. Several of the GOP attempts that passed the house would have helped the jobs and economy issue, but Harry Reid stopped them. The GOP wants the pipeline, but Obama stopped it. And you bich about the GOP? Hypocrite!

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By: backwardglance http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32385485 backwardglance Mon, 13 May 2013 14:05:59 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32385485 " Who ever heard of bankers giving loans to people who had no collateral or income?" LOL!!......they were ALL doing it. Only a small percentage of loans was affected by the CRA. ” Who ever heard of bankers giving loans to people who had no collateral or income?”

LOL!!……they were ALL doing it. Only a small percentage of loans was affected by the CRA.

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By: tmferretti http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32385447 tmferretti Mon, 13 May 2013 13:56:46 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32385447 The republicans never learn The American people's biggest concern is JOBS and the economy. The republicans never talk about either. Now that their stupid spending cuts have been rejected they have nothing to offer. They are focusing on Benghazi and other nonsensical issues to cover the fact that they are bankrupt of ideas except more trickledown. They don't know if they continue these tactics they are sure to lose in 2014 and 2016. The republicans never learn

The American people’s biggest concern is JOBS and the economy. The republicans never talk about either. Now that their stupid spending cuts have been rejected they have nothing to offer.

They are focusing on Benghazi and other nonsensical issues to cover the fact that they are bankrupt of ideas except more trickledown.

They don’t know if they continue these tactics they are sure to lose in 2014 and 2016.

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By: bea bea http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32385339 bea bea Mon, 13 May 2013 13:40:36 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32385339 Nobody with a brain takes Obama the phony liar seriously at all, if they ever did. Nobody with a brain takes Obama the phony liar seriously at all, if they ever did.

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By: Dogtown http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32385335 Dogtown Mon, 13 May 2013 13:39:38 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32385335 Wow. The "government can solve everything" crowd just refuses to learn, don't they. Government backed mortgages to people who cant afford them is what got us into the mess in the first place! Sure...force those banks to lend to people who aren't ready to own. Banks can afford the losses, right? And if they can't...the good 'ol American taxpayer will foot the bill for people who fail. It's like the pre-2007 all over again. How stupid can we get??! Wow. The “government can solve everything” crowd just refuses to learn, don’t they. Government backed mortgages to people who cant afford them is what got us into the mess in the first place! Sure…force those banks to lend to people who aren’t ready to own. Banks can afford the losses, right? And if they can’t…the good ‘ol American taxpayer will foot the bill for people who fail. It’s like the pre-2007 all over again. How stupid can we get??!

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By: Perplexed http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32384973 Perplexed Mon, 13 May 2013 12:40:43 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32384973 The CRA was used as a threat to banks to issue subprime loans. They were threatened with a hostile reception if they asked for anything from the feds. Who ever heard of bankers giving loans to people who had no collateral or income? Feddie and Fannie facilitated these bad loans by promising to take them off the bank after they were made. They were then bundled into Mortgage Backed Securities and sold to investors under the erroneous label that they were safe investments and good loans. The government was behind the incentive to make loans to people who could not afford them to increase minority ownership. This entire scam resulted in the collapse of the housing industry and the burden falling on the taxpayers. Now obama is proposing that we do the same thing again. How stupid can you get!!!!! The CRA was used as a threat to banks to issue subprime loans. They were threatened with a hostile reception if they asked for anything from the feds. Who ever heard of bankers giving loans to people who had no collateral or income? Feddie and Fannie facilitated these bad loans by promising to take them off the bank after they were made. They were then bundled into Mortgage Backed Securities and sold to investors under the erroneous label that they were safe investments and good loans. The government was behind the incentive to make loans to people who could not afford them to increase minority ownership. This entire scam resulted in the collapse of the housing industry and the burden falling on the taxpayers. Now obama is proposing that we do the same thing again. How stupid can you get!!!!!

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By: Perplexed http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32384307 Perplexed Mon, 13 May 2013 11:05:51 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32384307 Haven't we been there and done this before? Haven’t we been there and done this before?

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By: 357mg http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32378051 357mg Sun, 12 May 2013 17:48:56 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32378051 The Community Reinvestment Act (CRA), didn’t cause the problems.The very small share of all higher-priced loans that can reasonably be attributed to the CRA demonstrates that this law couldn't have contributed in any meaningful way to the subprime crisis. The CRA wasn’t big enough to remotely cause these problems. The Community Reinvestment Act (CRA), didn’t cause the problems.The very small share of all higher-priced loans that can reasonably be attributed to the CRA demonstrates that this law couldn’t have contributed in any meaningful way to the subprime crisis. The CRA wasn’t big enough to remotely cause these problems.

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By: rc http://abcnews.go.com/blogs/politics/2013/05/president-obama-urges-congress-to-boost-homeowners-in-healing-housing-market/#comment-32377796 rc Sun, 12 May 2013 17:13:32 +0000 http://abcnews.go.com/blogs/politics/?p=845933#comment-32377796 It's not like Obama was beamed down to Earth from a spaceship in 2008. Obama played an active role in the subprime mortgage crisis years before Bush became President. ACORN urged lenders to extend home mortgages to subprime borrowers, pushing charges against banks in the 1980s that their home lending practices amounted to "red-lining," in violation of the 1977 Community Reinvestment Act. In 1994, lawyer Obama, a graduate of Harvard Law School then fresh from his Project Vote! experience, represented ACORN in the Buycks-Roberson v. Citibank Federal Savings Bank case, in which ACORN pressed for Citibank to make more loans to marginally qualified African-American applicants "in a race neutral way." Obama was hired by the group to train its community organizers and staff in the methods and tactics of the late Saul Alinsky. ACORN would stage in-your-face protests in bank lobbies, drive-through lanes and even at bank managers’ homes to get them to issue risky loans in the inner city or face charges of racism. After obtaining a settlement in the Citibank litigation, ACORN used its subsidiary organization ACORN Housing, a nationwide organization with offices in more than 30 U.S. cities, to push the group's radical agenda to get subprime home buyers mortgages under the most favorable terms possible. At least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 percent of loans in the conventional loan market. So since the mid-1990's, Obama actively supported ACORN and subprime mortgage lending as a community organizer, a lawyer, a State Senator, and a US Senator (which he was in 2007). He was always part of the problem, and he's pushing for looser lending standards yet again. It’s not like Obama was beamed down to Earth from a spaceship in 2008.

Obama played an active role in the subprime mortgage crisis years before Bush became President. ACORN urged lenders to extend home mortgages to subprime borrowers, pushing charges against banks in the 1980s that their home lending practices amounted to “red-lining,” in violation of the 1977 Community Reinvestment Act.

In 1994, lawyer Obama, a graduate of Harvard Law School then fresh from his Project Vote! experience, represented ACORN in the Buycks-Roberson v. Citibank Federal Savings Bank case, in which ACORN pressed for Citibank to make more loans to marginally qualified African-American applicants “in a race neutral way.” Obama was hired by the group to train its community organizers and staff in the methods and tactics of the late Saul Alinsky. ACORN would stage in-your-face protests in bank lobbies, drive-through lanes and even at bank managers’ homes to get them to issue risky loans in the inner city or face charges of racism.

After obtaining a settlement in the Citibank litigation, ACORN used its subsidiary organization ACORN Housing, a nationwide organization with offices in more than 30 U.S. cities, to push the group’s radical agenda to get subprime home buyers mortgages under the most favorable terms possible.

At least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 percent of loans in the conventional loan market.

So since the mid-1990′s, Obama actively supported ACORN and subprime mortgage lending as a community organizer, a lawyer, a State Senator, and a US Senator (which he was in 2007). He was always part of the problem, and he’s pushing for looser lending standards yet again.

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