Obama mulls rental option for some homeowners-sources

reply to post by chise61

You made some great points especially regarding the government accumilating tons of land by having people surrender their houses.

reply to post by Miraj


It is about dignity and human rights. If you want to go back to the middle ages this "government takeover" is a good idea. But it turns the former homeowner into a serf. It turns the USA into a serfdom. Is that what you want? That is the opposite of the American dream. That was supposed to never happen here. This is th place where people are free to succeed and to fail. If you succeed you will make enough money to own your own home. When you own your own home you are free to live there forever pass it down to heirs, you have something of value which enriches your life.

If you do not have that security, you are constantly under the thumb of the landlord and have to do everything they tell you to do.

How can the government takeover a mortgage that belongs to a bank anyway. The bank was the one who put up the money for the house..is the gov going to buy it from the bank or seize it. If the banks have to worry about the government seizing bad mortgages...they will be much more careful to whom they allow to borrow from them. Talk about a credit squeeze.

Resist serfdom...no freedom of healthcare, no bill of rights, no land, no old fashioned light bulbs, no jobs, no dollar...resist the work of Barack Obama and the Democratic congress.

Originally posted by Rockpuck
reply to post by WhatTheory

 

This is a very OLD practice..

It's called Feudalism.

And the contract to which a citizen may live on a property for a few years with no definite contract of time nor rights to assume the land, is called a Tenant At Will, which the government could if need be remove you from your plot for no reason what so ever.

Why, I do believe the President may be taking ideas from the Kings of England of old?? Such bitter irony..

As to who the property is surrendered to, probably the bank, but the bank and the Gov is so indecipherable anymore I hardly know who's who. Banks own the State, the State owns the Banks. Get your mortgaged foreclosed, pay an obscene rent to which you will have no equity, then the bank can remove you and sell the house at face value. Or find a better renter.

Great points!!! You have nailed it on the head. I agree with everything you said here.

This is an erosion of the American way of life.