The Obama Administration announced they want to spend $14 billion for jobless homeowners to free them up from their monthly mortgage payments for up to six months, to help them rework their existing mortgages and provide some additional money, to help rework loans for the 10 million homeowners who are essentially upside down in their mortgage.
Any money the federal government spends must come from somewhere. That ‘somewhere’ is from the taxpayers that are still working. This would appear to be more of Obama’s desire to redistribute the wealth.
Fox News, Monday, had a panel discussion on the “fairness” of the Obama Administration program to prevent foreclosures.
See more here for transcripts: http://www.foxnews.com/story/0,2933,590061,00.html