Post Tagged with: "lenders"

March 26, 2010 04:14

Quit your job to cut your mortgage payments? Another nutty Obama wealth redistribution scheme

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 the amount of unemployment insurance, for three to six months. In some cases, administration officials said, a lender could allow a borrower to skip payments altogether. What’s next, no car payments? Free cable TV?