Obama Forces Mortgage Companies to Give Unemployed 12 Months’ Free Rent

Jim Hoft GatewayPundit 7/7/2011

It’s an Obama world…

The Obama Administration will require mortgage companies to offer 12 months of forbearance for qualified unemployed borrowers.

The Wall Street Journal reported:

The Obama administration will require mortgage companies to extend more generous mortgage relief to help certain unemployed borrowers from losing their homes to foreclosure.

Under […]

AIG, autos offset Treasury bank bailout profits

Washington–(Reuters) – U.S. taxpayer profits from bank bailout investments are being offset by estimated losses from American International Group and automakers and mortgage payment cuts for struggling homeowners, a U.S. Treasury report showed on Monday.

The Treasury estimated net losses on its $700 billion bailout program at $68.5 billion for the fiscal year ended September […]