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Obama's gonna pay my mortgage!

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  • Obama's gonna pay my mortgage!

    "Deed for lease" Program

    WASHINGTON — Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.

    Continued at above link....

    So, let's get this straight. Yet another government band aid? This time, with homes? People will fall for this? Is this bank owned housing? Doesn't look like it to me. Looks more like government owned housing.

    Also, since we can't see the fine print, at the end of the 1-year period, do the former homeowners get the option of ever going back to a traditional mortgage? All I can find in the story is "possibility of term renewal or month to month."

    Guess O really IS gonna pay that lady's mortgage.
    What part of "shall not be infringed" do you NOT understand?

  • #2
    This just might be another way American gets sold out from under us! Fanny Mae can legally resell the house and the new buyers can legally evict the residents at some point if things are not worded properly. With that said, what in government or politics is EVER worded properly?:confused:
    Being unprepared is giving up!