Federal Housing Finance Agency Director Throws Monkey Wrench in Another Obama Weath Redistribution Scheme

From the Chicago Tribune:

Financially strapped borrowers whose mortgages are backed by Fannie Mae and Freddie Mac will not be allowed principal reductions to help save their homes from foreclosure, a decision that will impact consumers as well as communities.

Federal Housing Finance Agency acting Director Edward DeMarco said Tuesday that forgiving a portion of the amount due on a mortgage, one component of the federal government’s home mortgage modification program, “would not make a meaningful improvement in reducing foreclosures in a cost-effective way for taxpayers.”

And the One and his minions are NOT happy. Too bad.


  1. You’re so right, Gerry. In fewer than 100 days, we all will stand up to him. Barack, you’re fired!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Teri O'Brien Show

%d bloggers like this: