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Monday, December 09, 2019

Obama Administration Gives Unemployed Homeowners More Time To Make Payments

One of the sharpest lines of attack against the Obama Administration’s response to the financial crisis is that they over-prioritized saving banks instead of keeping the housing market from collapsing — more than half of the qualified 1.6 million people who originally took advantage of its 2009 housing assistance program have already dropped out — and it looks like they are finally trying to publicly make clear that they need to address the problem.

On Wednesday, President Obama admitted that he “needed to go back to the drawing board” to better deal with the ongoing foreclosure crisis, and so on Thursday he took a first step in making good on that promise. Starting next month, unemployed homeowners will be allowed to miss their monthly mortgage payments for a year. The guarantee by the Federal Housing Administration won’t apply to more than a quarter of existing to mortgages, but the hope is that the move will get Fannie Mae and Freddie Mac — the two government entities that back 90% of all mortgages — to take it easier on people struggling to make their payments.

“Our hope is that this will have broader effects,” said Housing and Urban Development Secretary Shaun Donovan during a conference call, according to the AP.

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Tape of home invasion attack on Nancy Pelosi's husband Paul Pelosi

Youtube Screenshot

Video released Friday of the harrowing home invasion and assault that nearly killed then-Speaker Nancy Pelosi’s husband in October brought little in the way of self-reflection or regret from far-right Internet trolls and Fox News stars who spent months baselessly insisting that the attack had actually resulted from a gay tryst gone wrong. Instead, the denizens of the right-wing conspiracy theory ecosystem either claimed that the new evidence proved that they were right all along, or used it to float additional conspiracy theories about why it hadn’t been released earlier.

The key facts were available within hours of the October 28, 2022, attack. Law enforcement swiftly alleged that David DePape broke into the Democratic leader’s home in the middle of the night seeking to harm her and pummeled her 82-year-old husband Paul, sending him to the hospital for emergency surgery. Journalists who reviewed DePape’s Internet history subsequently revealed that he had been radicalized online and espoused a wide array of right-wing conspiracy theories, including QAnon.

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