The Obama Solution: Lenders As Landlords

This past week there was a news report released by the mainstream media that Barack Obama has arrived at a solution to "solve" the mortgage crisis and foreclosure mess, especially in the hardest hit states of Arizona and Florida, by turning Freddie Mac and Fannie Mae, the mortgagee on a great many of those properties, into landlords.

It was also reported that input into this proposal by the public would be accepted until September.

Instead of actually addressing the true problems and just why the housing market isn't rebounding with the public expressing their free market dissatisfaction with the manner in which most of those properties are sold, with overly restrictive terms and conditions on those loans, and at usurous rates at that, the Obama Administration's agenda appears to be to corner the market on private land and home ownership in this country.

Or shift those properties over to all those investment groups so that all land is eventually "corporately" owned, and "managed".




The greed of the banks and the foreclosure industry at this point is truly incredible.

And make no mistake about it, in both Arizona and Florida the foreclosure industry is very big business, and both states have a very long and illustrous history of land and real estate fraud.

Just imagine all those LLCs and limited partnerships of doctors, lawyers and other high income individuals who will eventually purchase those bargain basement mortgages on entire developments if this "suggestion" becomes law.

Gone will be all private land ownership in this country eventually, as has been the agenda it appears with the progressive agendas of placing management companies and lawyers in charge already of large developments under those covenants already sold with homes in which "homeowners associations" throughout the nation have become the norm. Where the freedom to even paint your home the color you wish, or make improvements now involves a "corporate" or "committee" decision of your neighbors, or the non-owner management companies.

I wonder, just why are Americans turned off at this point with purchasing a property only to find out they truly have no "ownership" rights to speak of in any manner whatsoever.

And just why was this "announcement" buried by most news readers and reporters, when it has such monumental impact with respect to its "legality?"

And all appearances to the contrary, the Democratic Party is clearly as "corporately" focused as Mr. Romney's definition of "people," only this time fundamental private property rights and ownership rights are the targets to this Administration.

Placing them now under banker's control as the "landlords."

So THIS is where all that stimulus money will eventually be spent? Purchasing all the land and homes of Americans also now affected by failed governmental policies who have lost their jobs, and will now be losing their homes to the banker landlords?

When many of those banks who offered those Freddie Mac and Fannie Mae loans are controlled by foreigners through their stock ownership?

Outrageous.


If you agree that this is outside the intent for private property ownership, with banks not as lenders but as landlords, contact the Federal Housing Financial Administration at FHFAinfo@FHFA.gov.