IPFS News Link • Obama Administration
Rich Uncle Pays Your Mortgage
• Campaign for Liberty/Lew RockwellBefore looking at the program, we have to ask, is this really a victory? If people are in over their heads, drowning in debt, it is a far wiser path to lift them out rather than hand them a snorkel through which to breathe. The answer for most of the sad cases of people with homes larger and more expensive than they can afford is to move to a new abode. I don't know why or how such thoughts became unthinkable: we not only have a right to a home now, but we have a right to live forever in a discounted home.
If people would move to cheaper places, their debt problems would be solved in shorter order. In any case, how was the Obama administration able to accomplish the miracle of letting people continue to live in lifestyles they can't afford? They offer to pay $1,000 for every loan that a mortgage company could renegotiate.
How will you pay? It