19 Replies to ““January Surprise: Is Obama preparing a trillion-dollar, mass refinancing of mortgages?””

1. Squid says:

   January 4, 2012 at 2:36 pm

   The Tea Party looked at the handouts given by Washington to its friends and said, “Hell no! No more handouts!”

   The Owwies looked at the handouts given by Washington to its friends and said, “Where’s MY free shit, bitches?”

   Guess we know which side has the President’s ear. (Which they really should let go, before they stretch ’em out any further.)

2. geoffb says:

   January 4, 2012 at 2:50 pm

   An all czars administration. Reid may just decide to never return to full sessions again. All vacation, all the time.

3. Ernst Schreiber says:

   January 4, 2012 at 2:55 pm

   Between the czars and the “deemed in recess” recess appointments and the “hey, it’s not my fault your were stupid enough to play by the rules sucka” perverse incetivizing, I’m starting to think Perry might want to re-think his decision to remain in the race.

   Because right now, President of the Sovereign Republic of Texas sounds like a much better gig than President of the (dis)United States.

4. sdferr says:

   January 4, 2012 at 2:55 pm

   Viziers.

   We only await the installation of the Obama Seraglio at the White House. Michelle however, surely, will remain number one.

5. Crawford says:

   January 4, 2012 at 3:02 pm

   Guess we know which side has the President’s ear.

   The OWWIES are Lord High Emperor Obama’s brown shirts.

6. Squid says:

   January 4, 2012 at 3:10 pm

   More like red-shirted ensigns, if you ask me.

7. Ernst Schreiber says:

   January 4, 2012 at 3:17 pm

   Their shirts are SEIU Purple.

   So you’re both wrong.

8. charlesaustin says:

   January 4, 2012 at 3:42 pm

   Hey I just posted on another thread that everything is about the next election now. And that’s all this is, another ploy to buy votes with our, um, borrowed money.

   Just think of it as QE3.

9. Ernst Schreiber says:

   January 4, 2012 at 3:50 pm

   Just out of idle curiosity:

   If, based on this post and the previous post(s), we can agree that Obama now shows every intention of breaking this country before the next election by means of Cloward-Piven spending and Alinskyite social organizing, agit-prop street theater, and contempt for custom and the rule of law, can we then accept that electability, however defined, is largely irrelevant as a criterion for choosing our nominee?

10. newrouter says:

    January 4, 2012 at 3:52 pm

    mr. ernst you will cause jentherube major problems

11. Ernst Schreiber says:

    January 4, 2012 at 3:58 pm

    I doubt she’s introspective enough to let anything so serious cause her major problems. Much easier to pretend that what’s starting to happen isn’t serious, and thus only a minor problem Mittens can easily repair, if people like me would shut up an go away.

12. Lost My Cookies says:

    January 4, 2012 at 4:03 pm

    Hmmm.

    Lemme see. 100k mortgage @ 5% about $537 no tax or pmi. 300+ of that is interest, saves you about 1800 per year with the deduction (this is a VERY old spreadsheet I’m using here, Quattro Pro file from 1998) With a refi to 3%, that drops to about 1200 a year, my payment on 100k would be around $420 (Duuuuuuude). So, I save 100 a month cash out, but I’m $600 in the hole come April anyway.

    50 bucks a month, if I do it right.

    ‘course the banks will only take 50k in interest vs 90k, but they take most of it up front, and I’ll sell or refi once I get any kind of equity (I mean I wouldn’t, but college costs money and so do iphones and Priuses) so that’ll come out in the wash.

    ‘Bout the only thing this would do would be to fix rates so that the Fed could raise them… Be good for oldsters getting fucked by the inflation that “isn’t” happening.

13. Ernst Schreiber says:

    January 4, 2012 at 4:07 pm

    Oldsters aren’t the only one’s getting fucked by inflation.

    Oh wait, Core Inflation means I’m not really getting fucked because inflation is only sticking in the tip.

14. dicentra says:

    January 4, 2012 at 4:26 pm

    To borrow from Marx Vader (whom I’ve just now invented), “welcome to the Dark Side, Luke. What can I have other people get for ya’?”

    The Sith have better dental… Luke, I could go on and on

15. sdferr says:

    January 4, 2012 at 4:55 pm

    That’s Groucho Marx Vader.

16. newrouter says:

    January 4, 2012 at 5:24 pm

    free markets free people

    North Dakota oil boom fuels real estate sales in Arizona
    By Haya El Nasser, USA TODAY

    Flush with cash from an oil boom and plentiful jobs, North Dakotans are snapping up homes 1,500 miles away in balmy Arizona, where prices have plunged since the real estate bubble burst.

    “It boils down to the weather and taking advantage of the market,” says real estate agent Rocky Parra of HomeSmart Realty in Gilbert, Ariz., a Phoenix suburb.

    He and wife Beverly, a native of Minot, N.D., have sold eight homes to North Dakotans in recent months. Parra is heading to North Dakota this month to meet with possible buyers.

    “A lot of people have struck it rich,” he says. “Oil companies are coming in and buying businesses and land. They’re selling up there at the peak and buying down here at the bottom.”

    link

17. Rule du jour « Is This Blog On? says:

    January 5, 2012 at 5:23 am

    […] Obama is gunning for 2012 with both barrels; Obama’s January Surprise? Mass refinancing of mortgages. The details? Under our plan, every homeowner with a GSE mortgage can […]

18. MissFixit says:

    January 5, 2012 at 9:03 am

    wow! good for North Dakota!
    It’s a good time to buy real estate in warm climates, and the second home market collapsed so getting a place at the beach is feasible too.

19. mojo says:

    January 5, 2012 at 1:25 pm

    “Hello seeker! Now don’t feel alone here in the New Age, because there’s a seeker born every minute.”

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