President Obama Speaks - And Lies (Again)

09-14-2009 • The Market Ticker

Bluntly: You're lying when it comes to having these institutions make only sustainable, safe and sound loans, along with helping Americans keep their homes. (The spreadsheet can be found here: http://spreadsheets.google.com/ccc?key=0AirpBiMjpGTLdHdfWkJlM2JBbHBiZkpuZk9vTldBV1E&hl=en) The worse news? The portfolio has doubled over the last two years, with 2.6 million loans added (of a total of 5.18 million.) So what's the story on recent loans? We don't have an accurate number on that, but this much is clear: The claim that FHA only has a single-digit default and delinquency rate, and is helping Americans own and keep their homes is a BALD-FACED LIE. Sustainable mortgages eh? "Helping homeowners" eh? Not a snowball's chance in Hell according not to your lies but the mathematical FACTS as represented in ACTUAL default rates. ONE IN FIVE FHA mortgages is either late or in foreclosure? ONE IN FIVE?! I'm tired of the lying and so is everyone else. We The People demand THE TRUTH. THE TRUTH is that: