Obama Overhauls Mortgage Aid
President Obama announces HARP overhaul in Las Vegas on Oct. 24
President Barack Obama announced this week that the Home Affordable Refinance Program (HARP), which he introduced shortly after his election to the White House, would be overhauled to assist even more borrowers.
The original HARP is thought to have helped around 900,000 borrowers since its inception in 2009. The program was set up to offer assistance with refinancing to those who owed between 80 and 100 percent of their mortgage loan’s value.
According to Barclays Capital, the revamped HARP could help a further two to three million borrowers who meet specific requirements.
Immigration Stance May Hurt Republican Nominee
The issue of immigration, and particularly illegal immigration, has been raised systematically in the recent televised GOP debates, with some of the participants being described as too soft or too harsh on illegal immigrants.
We are now fully aware of Herman Cain’s desire to erect a 20-foot-high electrified fence which would also be topped with barbed wire. He has recently made it clear that he had no wish to kill Mexican citizens attempting to enter our territory illegally though. Michele Bachmann, however, explained that she would favor a double-walled protection system between the U.S. and Mexico. Rep. Bachmann pledged at the weekend to build a fence spanning the whole length of the border between the two countries.
Lead, Follow or Go Have a Beer!
Somebody told me once that the definition of insanity is to repeat the same steps over and over again, expecting to get a different result. So, I’m wondering what part of “NO MORE STIMULUS MONEY” does the leader of the free world not understand.
Tuesday, the President’s $447 billion dollar Jobs Bill failed to pass a procedural vote in the Democrat-controlled Senate, which would have brought an end to debate on the bill and cleared the way for a vote. Now, we learn the President is prepared to dismantle the bill and bring each of its component parts to Congress, if necessary.