Dude, Where's My Mortgage Modification?

OBAMA = One Big Ass Mistake America.

Obama unveiled his new plan to save the housing industry. It's called the "Homeowner Affordability and Stability Plan". (I would call it the "Reward Those Who Make Poor Choices and Punish Those Who Do Pay Their Mortgages Every Month Plan). It will cost us $75 Billion (which I'm sure is lowballing it).

Did you know that under the plan, homeowners who aren't making their payments will get a special, modified loan? To reward them for making their payments on time under their new mortgage, now they'll get $1,000 taken directly off the principal of their loan every year for 5 years!!! Now wait a second, we've been in our home almost 6 years and we've never missed a payment, where's my $5,000 off the principal??? Oh, that's right, we did what we were supposed to do, so we don't qualify.

Did you know the program will allow bankruptcy judges to just come in and modify mortgages?

Did you know that banks who agree to new mortgage deals with favorable terms for these homeowners who aren't paying will get cash as an incentive?

Where is the money for this coming from? It's going to take billions to pay these banks and these deadbeat homeowners. The cash comes from us, people who do pay their mortgages. So we are financing other people's mistakes.

Obama has obviously not heard that you don't reward failure and punish success. You can read more about this Obaminable plan here.