Apparently owning a house is now an undeniable right under Our Lord and Savior Barack Hussein Obama.
The Messiah Himself will order lenders to reduce or eliminate mortgage payments to borrowers who are unemployed.
Banks and other lenders would have to reduce the payments to no more than 31 percent of a borrower’s income, which would typically be their unemployment insurance, for up to six months. In some cases, administration officials said, a lender could allow a borrower to make no payments at all.
The new push, which the White House is scheduled to announce Friday, takes direct aim at the major cause of the current wave of foreclosures: the spike in unemployment. While the initial mortgage crisis that erupted three years ago resulted from millions of risky home loans that went bad, more recent defaults reflect the country’s economic downturn and the inability of jobless borrowers to keep paying.
Translated means: Obama is banning foreclosures in the United States.
This is the act of a dictator. A ruler. The President of the United States has no constitutional authority to issue such a directive, unless Obama plans on nationalizing the home mortgage industry.
What can Obama do? Bluster and bully and intimidate like the Chicago street thug He is? My fear is this: He will issue the order and hint that He will nationalize the institutions and take them over if they do not comply, much like Hugo Chavez in Venezuela.
Once again, no president has the authority granted by the U.S. Constitution to take such action. He is not a king. He is not a monarch. He is not a ruler.
The Constitution limits executive power. If not, it’s time Congress and the Supreme Court perform their required checks and balances.
But then, since when has the Constitution mattered to these people?
Looks like this dimwit’s dream of having Obama pay her mortgage may come true:
[...] have to agree with the Underground Conservative: “Looks like this dimwit’s dream of having Obama pay her mortgage may come [...]