"Obama Gonna Pay My Mortgage!"

Remember that video clip from the campaign?

The one where the Negro (Hey, they call it the United Negro College Fund, so why not?) woman crying with joy that she would never have any economic worries again?

The one most people ridiculed because she obviously didn't understand how the process worked?

Guess what?

She was right.

The O-man really is going to pay her mortgage!

And thousands of others as well!

But probably not yours.

You probably don't qualify.

Seems you have to be part of a special group to get this benefit.

Another special interest group favor, provided by the ultimate lobbyist, the O-man hisself.

"The administration plans to overhaul how it's tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed", senior officials said Thursday.

"Banks and other lenders will 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 with no penalty or negative credit score effects."

"In some cases a lender must allow a borrower to make no payments at all for as long as unemployment benefits remain in effect."


"The new initiatives are expected to take effect over the next half year and will be funded out of money remaining in the $700 billion bailout program for the financial sector," administration officials said.

The announcement comes as the administration faces increasing pressure from lawmakers and housing advocates to overhaul its foreclosure prevention efforts.

So far, fewer than 175,000 borrowers (of the over 4,000,000 home owners struggling to avoid foreclosure) have received permanent loan modifications under its $75 billion marquee program, known as Making Home Affordable.

Mostly because banks and lenders rarely make any modifications to mortgages that are not already in default.

And the Inspector General for the Troubled Assets Relief Program has raised concerns that many borrowers may redefault even after receiving relief under the program.

So, if you're working, struggling to make ends meet, trying to do the right thing, and need some mortgage relief, you've got less than a .05% chance of getting any help from the O-man.

And, if you're the least bit late with your mortgage for any reason, you face credit score dings and possible foreclosure.

But if you're unemployed, you get a free pass, possibly making no mortgage payments for more than a year, with no impacts on your credit score, and no foreclosure or eviction.

With unemployment benefits continually being extended, why the hell would anyone work?

Don't get me wrong... I firmly believe in helping anyone sincerely down on their luck.

In giving them a hand up instead of a hand out.

But many of the very people for whom the O-man is forgiving mortgage payments are the very ones who started this housing crisis by taking mortgages they couldn't afford, with mortgage documentation (or not) that wasn't accurate.

Once again, the people who are doing their damndest to play by the rules are getting run over by the people who make the rules up as they go along.

There's a serious undercurrent of fustration and anger building stronger and stronger in the general populace.

Americans who have been quietly living their lives and trying to do what's right for years are getting vocal about those who aren't.

It's not a racial thing or a religious thing or an economic thing or even a political thing, as many pundits and politicians would have you believe.

It's an ethics thing... people are just fed up with having their sense of fair play violated.

And, they're fed up with the bribes, corruption, back room deals, and plain old bullshit being peddled by their elected officials.

Ronald Reagan used to speak of the "vast, silent majority".

Well, they're finding their voice.

They're finding their motivation.

And they're going to have plenty of ammunition as the real contents of the O-man's agenda come to light.

Americans have always been willing to work hard for a good life --- to build and invest for the betterment of future generations --- to fight for what they believe in.

And, to be charitable to those less fortunate.

But charity is a voluntary activity, not a required redistribution of wealth.

Based on the need of the recipient, not on the political need of the requiring party.

Reagan's silent majority will be silent no longer.


"The American people, the most generous on earth, who created the highest standard of living, are not going to accept the notion that we can only make a better world for others by moving backwards ourselves. Those who believe we can have no business leading the nation." ---- Ronald Reagan

"Government programs, once launched, never disappear." ---- Ronald Reagan

"To me our country is a living, breathing presence, unimpressed by what others say is impossible, proud of its own success, generous, yes and naive, sometimes wrong, never mean and always impatient to provide a better life for its people in a framework of a basic fairness and freedom." ---- Ronald Reagan