Foreclosure has been one of the greatest problems poor and middle class Americans have had to face as a result of the Republican recession. Foreclosure assistance programs have not gone far enough to help Main Street. The Republican party has a plan to aid troubled homeowners that demonstrates their compassion and fairness.
Recent price data show home values at nearly their lowest levels in the postbubble era, and a coming tide of foreclosures means prices will drop further. Seven million families have lost their homes so far, and another three million foreclosures are expected through 2012.
The ongoing crash is further evidence that the government’s antiforeclosure efforts have fallen short and America’s struggling homeowners need more help.
So what are House Republicans proposing? They want the government to get out of the antiforeclosure business altogether and leave homeowners to fend for themselves. The result would be hundreds of thousands of additional foreclosures and steeper price declines.
House Republicans have introduced bills to eliminate four federal antiforeclosure programs and replace them with — nothing… [emphasis added]
Inserted from <NY Times>
If you’re rich enough, Republicans offer you all the government welfare that socialism can provide. If you’re not, you’re stuck with free enterprise. YOYO! You’re on your own! That’s the Republican program.
6 Responses to “The Republican Foreclosure Program: YOYO!”
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It is high time we start slapping banks around the same way they’ve been kicking the American consumer around for years! We can start by throwing nearly every single Republican out of office, and by turning the remaining bank-friendly Democrats into nervous bedwetters!
Jack, there are a few DINOs that need to go with the Republicans.
At the same time foreclosures are increasing , and home values fall– Real Estate taxes stay high–the taxes are not reassessed -so people have mortgages and high house payments on a house valued at maybe 1/3 what it was—the RE taxes remain predicated on the original value— A house valued at less than what is owed cant have its mortgage renegotiated for a lower house payment — nor will it be reassessed ; home buyer is stuck ; so what is the wonder foreclosures are going sky high- ? Now tell me what is that oldie about the rich getting richer ?
Phyllis, that’s exactly right. Local governments are screwing taxpayers by holding on to inflated assessments, because they are already so revenue starved by the Republican recession, that they are desperate.
Phyllis – that’s an excellent point about property taxes and you hit the mark on that one.
This is just the GOP doing everything in their power to wreck the poor and middle classes. But once these people are all at the poverty level, who’s going to do their dirty work? 🙄
By then they hope to have developed more foreign markets.