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Entries in Mortgages (15)

Thursday
Mar132014

ALG's Daily Grind - Is Congress planning to charge you mortgage insurance even if you put 20 percent down?

6

March 12, 2014

Is Congress planning to charge you mortgage insurance even if you put 20 percent down?
New legislation creates $125 billion mortgage insurance fund to replace Fannie and Freddie. Who will pay for it?

NRCC takes aim at potential Republican nominee in Georgia
John Stone wants to shake things up in the Capitol Hill establishment, and that has garnered their attention.

Oversight Report: Lois Lerner's Role in IRS Targeting
House Oversight Committee Chairman Rep. Darrell Issa: "She involved herself in efforts to apply unprecedented scrutiny to new applicants, existing organizations, and to write new rules after President Obama and other prominent Democrats expressed outrage at the Supreme Court's Citizens United decision." 

 

Tuesday
Apr172012

ALG - $717 billion negative equity mortgage bailout is a fraud 

April 16, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson issued the following statement urging Federal Housing Finance Administration (FHFA) head Edward DeMarco to reject any bailout for 11 million borrowers who are underwater on their homes:

"The only thing standing in between the White House and a bailout of 11 million borrowers underwater on their mortgages to the tune of $717 billion is the FHFA's Edward DeMarco, who has had the temerity of suggesting that the agency merely follow the law and protect taxpayers from unnecessary losses.

"DeMarco has steadfastly rejected a widespread mortgage bailout throughout Obama's entire term of office, and now is coming under increasing pressure from congressional Democrats who are demanding an election-year payout to a favored constituency.

"But it is false hope that is being generated. Even if DeMarco relented and implemented the bailout, in a recent speech to the Brookings Institution he suggested only 691,000 of the 11 million would even be eligible. Meaning, about 10.3 million people underwater on their homes would not even qualify for the program.

"This makes Obama's promise of a bailout nothing more than an empty, cynical, election-year promise. What a fraud."

To view online: http://getliberty.org/content.asp?pl=10&sl=5&contentid=873

 

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

Tuesday
Apr102012

Obama to bail out borrowers with TARP funds, ALG responds

April 9, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement responding to a new Obama Administration TARP program to bail out borrowers with taxpayer funds by reducing the principal owed on mortgages:

"This latest White House scheme to bail out borrowers with mortgage principal reductions using taxpayer funds is nothing more than a cynical election year ploy. This time, the goal is to build a constituency of borrowers underwater on their mortgages with the hope that they might — emphasis on might — be able to get some relief.

"Meanwhile, the Federal Housing Finance Administration under Edward DeMarco has thus far resisted such a bailout on the grounds that it would result in billions of losses to GSEs Fannie Mae and Freddie Mac — putting taxpayers on the hook. The Obama solution? Take the money out of another pot of taxpayer money, give it to Fannie and Freddie, and pretend it did not add to the deficit.

"All without any vote in Congress. This is yet another egregious abuse of executive power by Obama and Congress must demand accountability, and rein in these bailout programs once and for all. The House Appropriations committee should act immediately to defund TARP and any related bailout programs, and the House Oversight Committee should investigate these existing programs for any other wastes of taxpayer money."

To view online: http://getliberty.org/content.asp?pl=10&sl=5&contentid=870

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

Saturday
Mar102012

ALG's Daily Grind: Understanding the "unemployment rate" 

March 9, 2012

 

Understanding the "Unemployment Rate"

The numbers no longer reflect the reality of America's economy or even the state of our nation's unemployment.

Europe kicks the can, following the American way

Private holders of Greek debt "voluntarily" accept a 50 percent haircut, so is the European debt crisis over?

Cartoon: Media Eyewear Style Guide

Everything reporters need to make the right calls - just in time for the 2012 election!

Obama playing house with other people's money

Another mortgage bailout: Obama plans to spend $6-9 billion to refinance 2-3 million mortgages.

Saturday
Feb112012

2/10/12 Daily Grind: Obama the Usurper 

Feb. 10, 2012

 

Obama the Usurper

Obama is tearing down the constitutional firewalls between state and church, and imposing his will alone. But it's even worse than that.

 

Cartoon: Your Will Be Done

The state imposes its will on the church.

 

Free Willy… from slavery?

People for the Ethical Treatment of Animals (PETA) brought suit against SeaWorld on behalf of the orcas performing in their aquatics show, citing that it violates the 13th amendment which prohibits slavery.

 

That jobs thing sure didn't last long

It is hard for most Americans to understand how it is contrary to the national interest to create 20,000 construction and manufacturing jobs.

 

CNNMoney.com: Mortgage deal—What the critics say

ALG President Bill Wilson rips $26 billion settlement between banks and government over alleged fraud in mortgage lending.