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Thread: Government Housing
07-15-09, 08:25 AM #1
I can just see it, a wealthy mogal in Boca Rotan, Fla or Beverley Hills can't pay their mortgage so they turn it over to the Gov't., and pay "rent." When asked where they live, they can say "Government Housing." Would this be Sect 8, or what??
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NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.
As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said. (Reporting by Patrick Rucker; Editing by Diane Craft
07-15-09, 08:59 AM #2
Might as well give them the house too. Under this administration, they'll wind up owning everything else.
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
- Alexis de Tocqueville, Democracy in America
Tell me not, Sweet, I am unkind,
That from the nunnery
Of thy chaste breast and quiet mind
To war and arms I fly. - Lovelace
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07-15-09, 09:57 AM #3"If anything worthwhile comes of this tragedy, it should be the realization by every citizen that often the only thing that stands between them and losing everything they hold dear... is the man wearing a badge." -- Ronald Reagan, in the wake of the deaths of 4 CHP troopers in the Newhall Incident, 1970
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