obama foreclosure unemployment

The last 2 years have witnessed an accumulation of delinquent mortgage loans across America. The international economic stagnation has been pressuring Americans’ budgets. Surveys have concluded that around 4 million Americans spend more than 40% of their monthly income on mortgage loan payments. Accordingly, the standard of living of middle classed Americans was hardly hit in the past couple of years. Obama’s newly proposed bill is expected to offer federal debt assistance to mortgage holders to help them get out of the hole.

As shocking as it might seem, statistics show that more than 6 million Americans are at the risk of foreclosure within the next year or two. Moreover, the economic recession has even added up to this by increasing the rate of unemployment. As a result, the new mortgage loan modification program is expected to spend federal money to bring down the mortgage monthly payment to a value that is less than 31% of the mortgage holder’s monthly paycheck. The government is even willing to spend more. The new bill promises every borrower an annual 1000 dollar cash incentive provided that he continues to pay his reduced monthly payments on time.

Most creditors are reluctant to close up loan modification deals; however, the new bill will change their attitude. The new debt assistance bill is promising creditors a 1000 dollar incentive for every modified debt after a year of on time monthly payments. Although loan modifications mean that borrowers will pay less, the new federal incentive is making it up for creditors.

Eligibility for federal loan assistance could be examined easily through several internet services that could be of great assistance. Sparing some time for a web search will sure yield some desirable results. Although many factors might come into action, you’re most probable eligible for a loan modification if:

- You are experiencing a personal financial hardship e.g. lost a job, had a cut off your paycheck. These circumstances should be proved with the appropriate legal papers and evidences.

- You live on the property that you hold mortgage for.

- Your creditors haven’t declared bankruptcy or aren’t preparing to do so. In other words, foreclosure is not inevitable.

The new Federal debt assistance bill has really been proposed at the right time. The federal government is expected to spend billions of dollars to prevent millions of American from facing disclosure. The new bill is expected to be a cornerstone in raising the standard of living of many American families.

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Why did Obama ruin America?

Obama was handed a well oiled machine. America was never been in better shape, financially and well reputed my other nations . Now we are stuck in two wars with out of control debt with record levels of unemployment and foreclosures.

Please tell me you’re kidding. Lets compare the 8 years Pres. Bush was in office with the short time Pres. Obama has been in office shall we.

PRES. GEORGE W BUSH
1. Turned the largest US surplus into the largest deficit in American history, then gives tax cuts when he should be raising taxes to get more money for the country.

2. Blamed bin Laden for 9/11 (which is okay), but when he couldn’t find him, made Americans forget about him by diverting their attention to Saddam Hussein, who had absolutely nothing to do with 9/11. Has he found bin Laden? Has he found any WMDs?

3. Stuck his nose in Iraq’s business and “improve” their government while bombing and completely destroying Iraq-it’s obvious it’s just an excuse to go to war.

4. Lied about there being NO terrorist attacks since 9/11, when there have been quite a few that he covers up or makes America forget about. (Like that anthrax threat a few years ago for example.)

5. Passed the Patriot Act to keep America safe from terrorists while arresting people who aren’t terrorists, never catching the people who are, and violating SIX AMENDMENTS of the Constitution.

6. Passed “Clean Air Act” which actually makes the air dirtier.

7. Made every country in the world besides Britain and Poland hate us.

PRES. OBAMA

1.In a series of foreign trips and speeches, which critics deride as trips and speeches, he replaced George W. Bush’s unilateral, moralistic militarism with an approach that is multilateral, pragmatic, and conciliatory.

2.Obama has already significantly reoriented policy toward Iran, China, Russia, Iraq, Israel, and the Islamic world.

3.Obama has wisely deferred some smaller, politically hazardous battles over issues such as closing Guantanamo, ending “Don’t Ask, Don’t Tell,” and fighting the expansion of Israel’s West Bank settlements. Instead, he has saved his fire for his most urgent priorities—preventing a depression, remaking America’s global image, and winning universal health insurance.

4.The Obama White House cleared an important hurdle in the health care reform debate when it appropriated $19 billion in the stimulus package to help implement an electronic medical record system. The money is paltry compared to the hundreds of billions set aside for an overhaul of the health care system in the budget. But officials inside and out of the White House say its significance is hard to overstate.

5.Maligned for its handling of the financial and banking crises, the Obama Treasury Department has nevertheless implemented policies with real qualitative and quantitative impact on debt-burdened families. Chief among those was a $2,500 tax credit to help offset the cost of tuition (among other expenses) for those seeking a college education. Nearly five million families are expected to save $9 billion, according to Treasury officials.

6.While certainly discussed, foreign affairs experts insist that Obama’s engagement with the Muslim world has been at once remarkable and under-appreciated.

7.Since taking office, the White House has put under federal protection more than two million acres of wilderness, thousands of miles of river and a host of national trails and parks. The conservation effort – the largest in the last 15 years – came with the stroke of a pen when Obama signed the Omnibus Public Land Management Act of 2009 in late March.

Our economy was on a downward spiral prior to Pres. Obama taking office as a direct result of the decisions and greed of the Bush administration. You can’t expect President Obama to pull us out of a hole it took 8 years to dig in 2 years. Give the man a chance!

Health “reform” FAIL, Medicare FAIL, Everything’s great..NOT, Iraq bombs, Al Queda, Obama dances

Black Memphis Sees Wealth Drop: National Trend in the Making
Filed under: Race and Civil Rights The New York Times recently wrote about the economic challenges of black residents of Memphis, Tenn. In the piece, the author describes how the recent recession, creating a double whammy of high unemployment and foreclosure, has created an unprecedented amount of financial hardship for African-American residents in the city. The median income of black Memphis …