(CNSNews.com) – Wth no authorization from Congress, President Barack Obama has announced that his administration–through the Federal Housing Administration–will insure refinanced mortgages for 2 to 3 million borrowers without verifying their income or even if they hold a job, according to the Department of Housing and Urban Development (HUD).
Obama announced his latest mortgage program at a White House news conference on Tuesday.
Any American with a mortgage insured by the Federal Housing Administration (FHA) endorsed on or before May 31, 2009 and who is current with their mortgage payments would qualify, according to HUD.
No additional underwriting, or examining the verification of income, employment status or creditworthiness, will be done.
“Basically that’s because they already have an FHA loan and that’s just refinancing the same loan,” HUD spokesman Lemar C. Wooley told CNSNews.com.
Read More at CNS News. By Fred Lucas.
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I guess he’s getting impatient in ruining the country financially OR maybe he’s getting anxious to have the “rioting” start as a revolt against the INSANE government that he is. Either way, he’s probably trying to get the “ducks in a row” to end with a New World Order.
Here we go again, boons and white trash will deadbeat the system again. IT’S TIME THIS WHITEHOUSE ILLEGAL GETS LOCKED UP
The president continues to mine for votes for his re-election campaign. Irresponsible Lenders and Borrowers are what got us into to debt. This Presiden, his crony administration and followers will not stop until they destroy this country. I pray for the day when all of these criminals are behind bars.
If you think you can walk into a bank or mortgage lender with no income,
no job and refinance your house your living on obama kool-aid.
- promises for votes – slick niggy