Donate

House GOP Kills Program That Stopped 600,000 Foreclosures

News

Better built than most new tract homes!The U.S. economy will continue to be terrible, as far as jobs and housing and state tax revenues, as long as the Housing Crisis continues. And, based on today's news and basically all housing news for several years now, the collapse of the Housing Bubble is an ongoing catastrophe -- with prices still falling, terrible loans still "resetting," 9% unemployment sending ever more families into default, 14 million homeowners "underwater," 3 million foreclosures last year and another 3 million foreclosures expected this year. How might the House Republicans help America "get back to work" or whatever? By eliminating the four federal programs that have helped 1.5 million homeowners temporarily reset their mortgages and 600,000 permanently modify their loans to more affordable amounts.


Killing this flawed-yet-helpful program isn't all the House GOP is doing, for America. They're also hoping to eliminate three other housing assistance programs -- including a Bush-era program to keep entire taxpaying neighborhoods from falling into blight by providing money to states and cities "to buy and rehabilitate abandoned and foreclosed properties." It's the Republican response to the fourth year of the nationwide housing nightmare!

Reuters:

The U.S. House of Representatives voted on Tuesday to kill President Barack Obama's signature program to help struggling homeowners avoid foreclosure, although the bill is unlikely to clear the Senate. A bill to terminate the program was approved on a 252-170 vote. It was the last in series of four measures brought forward by newly empowered House Republicans to end government assistance for homeowners hurt by the housing crisis.

So, uhh, it won't actually happen ... until, as a "compromise," the White House and the Senate agree to eliminate the programs. We do all need to come together to help the banks that originated all these bubble loans, and then took a trillion dollars in bailout money from the federal government.

Bloomberg:

About 1.5 million households have begun trial mortgage modifications through HAMP, fewer than initial projections of 3 million to 4 million. More than 600,000 homeowners have received permanent modifications.

The vote is the last of four brought by House Republicans to kill funding for homeowner-aid programs backed by the administration.

We hope all the working class "Republicans" who voted for these assclowns last November will realize this is all "for their own good." [Bloomberg/Reuters]

$
Donate with CC

It was bound to happen. We're now watching Republican congressmen react to Donald Trump sitting in the Oval Office and saying "RUSSIA IF YOU'RE LISTENING" during an interview with George Stephanopoulos, literally inviting hostile foreign powers to attack the 2020 election for him like Russia did in 2016. And if you thought there wouldn't be at least one of them to say the quiet part loud and state for the record that crime is good if it helps Republicans win, then you haven't been paying attention to the Republican party in quite a while.

Enter GOP Rep. Chris Stewart of Utah, who sits on the House Intelligence Committee, AKA the committee whose members really should know better, even the Republicans, but unfortunately they don't because A) they're idiots and B) they've been sucking at Devin Nunes's dairy cows' teats (ALLEGEDLY) for too long:

Keep reading... Show less
$
Donate with CC

Spinal Tap - Gimme Some Money

Some dick is suing your Wonkette! If you are able, will you please send money?

1. Pick "just once" or "monthly."

2. Pick an amount, like say "all of the money."

3. Click "paypal" if you are paypal or "stripe" if you are not paypal.

4. MONEY.

5. Carry on with your day, and with new posts below!

How often would you like to donate?

Select an amount (USD)

$
Donate with CC
Donate

How often would you like to donate?

Select an amount (USD)

Newsletter

©2018 by Commie Girl Industries, Inc