Monday, October 11, 2010

Obama administration does not support U.S. moratorium on foreclosures

EDIT TO ADD:   An interesting post about robo-signers and the President can be found here: PRESIDENT OBAMA VICTIM  complete with pictures of a Deed or Release on Obama Property signed by one of the robo signers that is pushing through all kinds of fraud paperwork.   Forward that to the White House. 

NOTE: I find it troubling when President Obama is in direct conflict with most of his Democrat Pals and in agreement with Hannity. The ignorance of the issue is appalling. So like Jon Stewart of the Daily Show - I have to wonder, is it okay to tank about 6 million Americans financially or to tank the Banks - which are owned by the 5 million run over in shipshod fashion. Estimates are 90% of foreclosures are wrong. click title link below to read full article 

Obama administration does not support U.S. moratorium on foreclosures:
"The Obama administration does not support a nationwide moratorium on foreclosures at this time, Federal Housing Administration Commissioner David Stevens said Sunday in an e-mail response to questions.

'We believe freezing foreclosures for all banks in all states, whether we have reason to believe them to be in error or not, is simply not the prudent step to take in this fragile housing market,' he said.

With approximately one in four homes sold in the second quarter in foreclosure, administration officials worry that a moratorium could have a significant impact on the economic recovery.

'While we understand the eagerness to make sure that no American is foreclosed upon in error, we must be careful not to over-reach and apply a remedy that will make the underlying problem of foreclosures worse,' he added."

As always click on the title link above to read full article.

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