Friday, February 20, 2009

Foreclosure Bailout plan

Can you imagine getting paid $1,000 a year to make your mortgage payments on time? How about an extra $5,000 over five years just for paying your loan on time. Um, isn't that what you are supposed to be doing when you take a loan out from anybody. Only in the U.S.S.A (United Socialist States of America) would be come up with an idea to give people money for doing that they are supposed to be doing.

This is right out of Obama's Plan:

If Family C remains current on their payments, they will receive incentive payments up to $1,000 a year, or $5,000 over five years, which would go towards reducing the principle they owe.

On top of this the Obama's want to pay the mortgage servicers a fee of $1,000 to $3,000 if the people stay in their homes. Just remember some of these mortgage servicers are the same ones that gave these deadbeats the loans they are defaulting on now.

Only in America do we reward bad behaviour and actually incentivise it.

If you don't think America is swirling around the toilet bowl with Obama doing the paddling you better put down the crack pipe.

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