OBAMA LOAN MODIFICATION PROGRAM – ANOTHER EPIC FAIL WITH YOUR TAX DOLLARS

Obama and his minions have done such an amazing job with mortgage loan modifications, imagine what they will do for your healthcare. He really should stick to doing what he does best – enrolling millions in the foodstamp program and SSDI. So here’s the skinny. You have continued to make your mortgage payment, month after month. You did this by working at a job and making sure you did not spend the mortgage money on a new HDTV or a vacation in Vegas.

While you were acting responsibly, Obama took money from your pocket and gave it to people who weren’t making their mortgage payments. He declared that 4 million people would stay in their homes and help the economy recover. Only 2 million modifications were started and only 900,000 are still in effect. And this isn’t even the epic fail. The redefault rates on the modified mortgages is 46%. Think about that for one minute. The government drones in the Treasury Department are dazed and confused that deadbeats would default after they had previously proven they were deadbeats. SHOCKING!!!!

But at least Obama got a couple million votes in the last election from the defaulting deadbeats who appreciated his generosity and taxpayer gullibility. I can’t wait for Obama’s next mortgage plan. It will be tough to top this result. Obamacare here we come.

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