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Old 10-04-2008, 05:18 PM   #1
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Default Obama/Biden Lowering Mortgage Principal?

Been gone awhile so I apologize if this has been discussed....Did any one else hear this and raise an eyebrow?

Quote:
Biden -"Number two, with regard to bankruptcy now, Gwen, what we should be doing now -- and Barack Obama and I support it -- we should be allowing bankruptcy courts to be able to re-adjust not just the interest rate you're paying on your mortgage to be able to stay in your home, but be able to adjust the principal that you owe, the principal that you owe."

WEEEEELLLLLLLL ALRIGHTY THEN!!!!!

Sign me up!!!!!....I no longer want to owe $120,000 on the remainder of my home loan...Lets say...Oh, about $75,000 sounds better to me.

What a load of ....who in their right mind believes this!!!!!!!!!!!!???????????

I seem to remember the Left laughing forever about the "NO NEW TAXES" quote....This is LIGHT YEARS more ludicrous than that promise!!!
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Old 10-04-2008, 05:21 PM   #2
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Default Re: Obama/Biden Lowering Mortgage Principle?

I raised an eyebrow to most of what Biden said during the debate.

Sure - sign me up too! How about 1 more payment and we call it a deal?
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Old 10-04-2008, 05:27 PM   #3
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Default Re: Obama/Biden Lowering Mortgage Principle?

I could not believe that either....That's what happens when you get two attorneys together. Unfortunately, it's just one more "good" reason for many democrats to vote for them. They care about the middle class, republicans don't....
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Old 10-04-2008, 05:27 PM   #4
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Default Re: Obama/Biden Lowering Mortgage Principle?

Quote:
Originally Posted by HometownGal View Post
I raised an eyebrow to most of what Biden said during the debate.

Sure - sign me up too! How about 1 more payment and we call it a deal?
SCREW OBAMA/BIDEN!

McCain/Palin all the way.
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Old 10-04-2008, 05:37 PM   #5
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Default Re: Obama/Biden Lowering Mortgage Principle?

If Palin would have had a gaffe like that...she would have been crucified!!!!....There is absolutely NOWAY that is ever going to happen.

Its either a gaffe...or a lie.
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Old 10-04-2008, 05:54 PM   #6
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Default Re: Obama/Biden Lowering Mortgage Principle?

Quote:
Originally Posted by lamberts-lost-tooth View Post
If Palin would have had a gaffe like that...she would have been crucified!!!!....There is absolutely NOWAY that is ever going to happen.

Its either a gaffe...or a lie.
there is no accountability in these debates. Biden flat out lied or was wrong when he stated Hussein and McCain voted the same way in the budget resolution calling for tax increase in people making as little as 42,000 a year. McCain no , Hussein yes. Many more mistakes Biden made without accountability.
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Old 10-04-2008, 06:00 PM   #7
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Default Re: Obama/Biden Lowering Mortgage Principle?

Just yet another example of oduma,drunken saying anything to get elected. It would be nice if the unbiased media would pick up on it.
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Old 10-04-2008, 08:34 PM   #8
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Default Re: Obama/Biden Lowering Mortgage Principle?

I assume everyone here throwing rocks at any proposal to modify the terms of mortgages upon primary residences in Chapter 13 bankruptcies knows the provision of the Bankruptcy Code that it is proposed be modified. I also assume everyone mocking the proposal also is aware that section 1322(b)of the Bankruptcy Code currently permits modifications of most secured claims (including a mortgage on a second home) other than a mortgage upon a primary residence.

Then again maybe not, since for some posters it is more fun to spout off on any subject without knowing WTF you are talking about and just take shots at the evil Obama and Biden - I noted how Mosca's post on CNN debunking Palin rumors was received earlier today

If anyone is interested in reading what the dispute is about here are some links - believe it or not, there are good arguments for and against the proposal.


http://www.law.com/jsp/article.jsp?id=1195034646953

http://www.hklaw.com/id24660/Publica...ontentid49748/

http://www.arnoldporter.com/resource..._341022_1).pdf

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Old 10-04-2008, 08:45 PM   #9
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Default Re: Obama/Biden Lowering Mortgage Principle?

Quote:
Originally Posted by Atlanta Dan View Post
I assume everyone here throwing rocks at any proposal to modify the terms of mortgages upon primary residences in Chapter 13 bankruptcies knows the provision of the Bankruptcy Code that it is proposed be modified. I also assume everyone mocking the proposal also is aware that section 1322(b)of the Bankruptcy Code currently permits modifications of most secured claims (including a mortgage on a second home) other than a mortgage upon a primary residence.

Then again maybe not, since for some posters it is more fun to spout off on any subject without knowing WTF you are talking about and just take shots at the evil Obama and Biden - I noted how Mosca's post on CNN debunking Palin rumors was received earlier today

If anyone is interested in reading what the dispute is about here are some links - believe it or not, there are good arguments for and against the proposal.


http://www.law.com/jsp/article.jsp?id=1195034646953

http://www.hklaw.com/id24660/Publica...ontentid49748/

http://www.arnoldporter.com/resources/documents/Subprime%20Newsletter_%20Bankruptcy%20Amendments_( NY_341022_1).pdf



Now you know how I felt a few months ago...
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Old 10-04-2008, 08:46 PM   #10
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Default Re: Obama/Biden Lowering Mortgage Principle?

I'm sure you can make arguments Dan but I don't like the government trying to fix everything. They usually make things worse and create the exact opposite result of their stated intent. And we all know once the government gets a hold of something, they NEVER let go.
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