IWA For Sunday 081510

Times are tough out there.

Hey folks,

You know how Obama and Crew, and the MMD, keep telling us how great the Recovery is going? The Evidence and the FACTS show the exact opposite. But there they are. Spewing out BS that some dutifully, mindlessly, accept and believe. THERE IS NO RECOVERY. Not slow, modest, or otherwise. Obama IS, YES, OBAMA, not Bush, IS destroying the Economy. Some say on purpose, which I'm not sure how else to see it myself, to further INSANE Left Wing KOOK, Socialist, agendas.

Everyone knows what got us here. Fannie and Freddie. EVERYONE understands that it was the Sub Prime Mortgages mess that put us near the Brink. It was THEIR BAILOUT, that started us on this road. If we just let them fail, those that had no business buying the house they bought, would have lost it, and others would have stepped up to fill the gap.

Instead, we threw them BILLIONS, which they paid out in BONUSES, and NOW are asking for MORE. Then Obama comes it and drives us right over the cliff. But fret not out there folks. Just because you are STILL un, or under, employed, just because YOU and somewhere around 16 percent of the Population of the United States can't get work, the Economy is on the road to recovery. Yes folks. Do not be fooled by Reality. Obama says all is going slowly but well.

If you are losing your Home? Well, here IS some good news. You are not alone. According to the Philadelphia Inquirer - Philadelphia Housing Authority chief Carl Greene facing foreclosure By Jennifer Lin Inquirer Staff Writer

The mortgage foreclosure crisis has claimed an unlikely victim: Carl R. Greene, executive director of the Philadelphia Housing Authority (PHA).

Wells Fargo Bank has foreclosed on Greene's $615,035 condominium in the upscale Naval Square development in the city's Schuylkill section.

In a lawsuit filed July 27, Wells Fargo said the amount in dispute was $386,685.22.

Greene, 53, runs the nation's fourth-largest public housing agency and is one of the highest-paid public officials in the city. His salary is $306,370, and last year he got a $44,188 bonus.

Yup. You read that correctly. A salary of $306,370, and last year he got a $44,188 bonus. Bonus for WHAT?

Kirk Dorn, a spokesman for Greene, confirmed Thursday that the housing chief was "involved in a dispute with his mortgage company."

"It's unfortunate that the dispute is now public, but he plans to deal with the matter in private," Dorn said.

Dorn added that Greene "knows people will find it hard to understand how he could be involved in a possible foreclosure proceeding on his home, but he would prefer not to say more about it at this time."

So he will not even discuss it. Probably on the phone with Obama asking for a bailout. Too busy.

Greene bought his three-bedroom, 2,100-square-foot condo in 2007. Wells Fargo is not seeking to evict him.

What? Why not. You know as well as I, that you or I, would be out on our ear.

Like any other Philadelphia homeowner threatened with losing a house, Greene will have to participate in the city's mortgage-foreclosure program. He is scheduled to appear Sept. 16 in the courtroom of Judge Annette Rizzo.

PHA, a state authority, is funded mostly by the U.S. Department of Housing and Urban Development and is responsible for providing housing for Philadelphia's poor. It maintains rowhouses and apartments for low-income residents and develops affordable housing for purchase.

Greene took over PHA in 1998, after serving as executive director of the Detroit Housing Commission. He also worked for housing authorities in Atlanta and Washington.

Under Greene, PHA has aggressively eliminated outdated public-housing projects that concentrated families in fortresslike structures. Instead, the agency has developed low-rise communities with a mix of rental units and affordable homes for purchase. The developments often helped transform neighborhoods, such as the Hawthorne section of South Philadelphia.

So you see. He is a Liberal, and he has done so much good for the Poor. So this little thing? Never mind. He should be applauded for all the wonderful work he has done. Forget the $386,685.22. Even though, last year, with the Bonus, he made $350,588, which would just be $36,097.22 left owed, Wells Fargo Bank should just forgive his dept. He has such good intentions. Look, this piece goes on to talk about how good he is.

Greene has drawn praise for his results in building housing and reviving neighborhoods and criticism for his sometimes combative, forceful style. During the administration of President George W. Bush, Greene sued HUD and accused the agency of punishing PHA for not giving land to the politically connected Philadelphia music producer and developer Kenny Gamble. The case was resolved out of court.

With the Obama administration, Greene has drawn attention and accolades from HUD for quickly putting to use economic-recovery money. In the last two years, PHA has received an additional $127 million in stimulus money that Greene has used to build or renovate 1,200 housing units.

{Laughing} Folks, this is one of those, "OK. It's out there. Damn it. We have to report it. But, make sure you portray him in the best light possible." things. Truth is, how much do YOU make? What is YOUR Mortgage? DO you owe just a bit over your Yearly Salary? Was your Mortgage just a little over TWO of your Yearly Salaries? How about that Bonus you got last year?

Congratulations Carl Greene. You ARE the Idiot of the Week. If you REALLY could not afford it, which seems pretty clear you CAN, you should have never gotten the home to begin with. YOU Sir are the main reason we are in this Economic Crisis to begin with. People JUST LIKE YOU. But then again, like I said, the numbers do not lie, you CAN afford it. So why are you NOT paying it? Either way, your free ride needs to end.
Peter

Sources:
Philadelphia Inquirer - Philadelphia Housing Authority chief Carl Greene facing foreclosure

Presidential Radio Address For 090107

President Bush:

“Good morning. This week, I met with Housing Secretary Jackson and Treasury Secretary Paulson to discuss the economy and the turbulence in our Nation's mortgage industry. The fundamentals of America's economy remain strong. But the mortgage industry is going through a period of adjustment. And some American Radio Address by President Bush to the Nation s are worried about the impact this is having on their ability to make their monthly mortgage payments.

I have made it a priority to help American homeowners navigate these financial challenges, so that as many families as possible can stay in their homes. The Federal government will not bail out lenders -- because that would only make a recurrence of the problem more likely. And it is not the government's job to bail out speculators, or those who made the decision to buy a home they knew they could never afford. But I support action at the Federal level that will help more American families keep their homes.

One important way to help homeowners during this time of housing market stress is for Congress to change a key part of the Federal tax code. Under current law, when a lender forgives part of a mortgage to help its customer stay afloat, that amount is treated as taxable income. When your home is losing value and your family is under financial stress, the last thing you need is to be hit with higher taxes. So I'm working with members of both parties to pass a bill that will protect homeowners from having to pay taxes on cancelled mortgage debt.

Another important step we're taking for American homeowners is to modernize the Federal Housing Administration. The FHA is a government agency that provides mortgage insurance to borrowers through a network of private sector lenders. I've sent Congress important legislation that would help more Americans qualify for this insurance by lowering down-payment requirements, increasing loan limits, and providing more flexibility in pricing. By passing this legislation, Congress will allow the FHA to reach more families in need of our assistance, and I ask Congress to act quickly.

At the same time we will launch a new FHA initiative called FHASecure. This initiative will help some people who have good credit but have recently been missing their payments. FHASecure will help these families refinance their mortgages so they can make their payments and keep their homes.

There are other ways we can help. My Administration will launch a new Foreclosure Avoidance Initiative to help homeowners learn more about their refinancing options. I've directed Secretary Paulson and Secretary Jackson to look into innovative ways to bring together homeowners and counseling groups, financial professionals, and the FHA and government-sponsored enterprises like Fannie Mae and Freddie Mac to help American families find the mortgage product that works best for them.

Finally, the Federal government is working to make the mortgage industry more transparent and more reliable and more fair, so we can reduce the likelihood that homeowners will face similar problems in the future. Federal banking regulators are strengthening lending standards and making mortgages easier to understand. My Administration is working on new rules to help our consumers compare and shop for loans that meet their budgets and needs. We are committed to pursuing fraud and wrongdoing in the mortgage industry.

Homeownership has always been part of the American Dream. During my Administration we've achieved record homeownership rates. We'll continue to work hard to keep our housing market strong, to ensure that American families can afford the homes they buy, and to help bring the dignity and security that comes with homeownership to more of our citizens.

Thank you for listening.”