Home Loan Focus

Voting Your Pocket Book on Super Tuesday was never More Difficult

It’s kind of amazing, but none of the major presidential candidates going into Super Tuesday are doing anything, or offering anything to solve the Mortgage and real estate crisis that is driving the country into a recession with about $150 billion is bad debt by the mortgage companies, and at least $150 billion in lost home owner asset value and foreclosures across the country ($15-$20 billion in California alone).  None of the candidates do much more than pay lip service to people facing mortgage problems.

Heck, now that the Florida primary is over with no one is even talking about home insurance problems for the people on the coast either.

No one is demanding a clean up of the mortgage industry.  No one is demanding an investigation into banks or mortgage brokers that engaged in illegal or deceptive practices.  No one is offering a bail out to cover either the big banks or the home owners.  The candidates are all leaving the country and its citizens to hang in the wind and dry up or dry out on their own.  So if you are hoping to vote your pocket book today in the Super Tuesday primary, you might be better off casting a primary vote for none of the above and sending a donation to a third party candidate. 

Hillary’s Position

1. Wants a 90 day foreclosure moratorium
2. Freeze Interest Rates for 5 years (allowing people to work out of adjustable rate mortgages)

 

Obama’s Position

1. $10 billion for foreclosure prevention aid program
2. Mortgage Tax Credits
3. Homeowner Counseling

 

Republicans Position

1. No Government Bailout

 

John McCain

1. Does want to leave the option open for limited Government Assistance if the President’s current plan fails.

 

Mitt Romney

1. Reduce the FHA requirements to get more people covered or protected by the FHA
2. He then also wants to fix the economy in general so to help the mortgage market by extension

No related posts.

Related posts brought to you by Yet Another Related Posts Plugin.

Comments are closed.