Political Move Before Nov. Elections,Obama May Use Taxpayer Money and Bail Out Home Owners
Eying election losses in November, Obama may try to buy votes. The rumor is he may by-pass a vote from congress and order Fannie Mae and Freddie Mac to bail out main street. One in 5 or 15 million home owners are collectively, $800 billion underwater. This would help homeowners who owe more than their homes are worth and no doubt help Obama and the Democrats keep the Senate and Congress. Rumor is, taxpayer stimulus money would fund this operation.
More about mortgage relief from Reuters