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Obama: ‘We Stemmed the Tide of Foreclosures!’

By Peter Andrew
ConservativeAmerican.org
Leading the way Right with unique & fun
Conservative American Views.

Since President Obama is so fond of saying he inherited every problem he ever had, who gets to inherit all of Obama’s messes? The current foreclosure fiasco certainly has taken place on Obama’s watch. Using democrat-think, if its his watch, it’s his problem… so, doesn’t that mean, in Pro-Regressive thinkology, Obama created the current foreclosure problem?!

Last December, President Obama told 22 lies during one talk at the Brookings Institution. We called it the “Brookings Bull.” #17 was on Foreclosures…

Obama’s Brookings Bull # 17 – We Stemmed the Tide of Foreclosures 12/8/9 OBAMA: We enacted measures to stem the tide of foreclosures in our housing market, helping responsible homeowners stay in their homes. FACTS: RealtyTrac reports, “Default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter — the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005.” The President also said home values are improving. While that was actually true, the national home values remain below 2008 levels.”

So while Obama keeps lying about the economy, the housing market and foreclosures, things keep getting worse… on his watch. Obama had a plan in 2008 that was supposed to fix all this, remember? Continues below…

President Obama was still lying about the mess a year later. From page 15 of the Official Obama Administration Scandals list

Obama Lies about FHA Making only Sustainable, Safe & Sound Loans 9/14/9 The Market Ticker reports Obama speaks and lies again: “THE TRUTH is that: FHA has been and still is putting Americans into loans they cannot afford, as is proved by the default and foreclosure statistics. The housing and banking industry HAS NOT reformed its ways, specifically, pushing loans on people they cannot afford, and the FHA is blatantly conspiring with these clowns in APPROVING loans that statistically have a one in five shot at failure. The claim that these mortgage programs are “helping Americans” is a damned lie. No program that winds up with one in five borrowers unable to pay – a rate double that of credit-card defaults – can be said to be “sustainable”, “safe”, or ‘helping homeowners.”

So, not only has Obama done nothing to fix the “tide of foreclosures,” he also has done nothing to prevent the bad loans from continuing!!!

Agree? Disagree? Are we nuts or Leading the way Right? Leave a comment below!

Leonisa Panties

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