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News Link • Housing

Obama's Refinance Plan for Mortgages: Another Bank Bailout

Fannie and Freddie are owned by US taxpayers. The Obama administration wants to dump all of these proposals on the backs of taxpayers, perhaps without addressing the problem that "American homeowners currently owe some $700 billion more than their homes are worth." Supposedly this can be done at "little to no cost". Obama is either too dumb to see what's going on or he simply does not care what it costs to buy votes. I believe both.

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