While real-estate professionals applauded the refinance provisions, which the White House says could help four million to five million homeowners, lots of borrowers wouldn’t be eligible. For example, the refinance provision is limited to borrowers whose mortgages are owned or securitized by Fannie Mae or Freddie Mac, the government-backed mortgage companies.
Jim Stoll, 67, of Stafford, Va., said tax cuts would be more equitable. “I look at all the spending in this bill, and I don’t see it going to the normal taxpayer,” said Mr. Stoll, who spent 26 years in the Marine Corps and an additional 16 in civil service. “If they have to spend money, then it would be easier to put it in consumers’ pockets and let them do with it what they will,” he said. Read More
Just as I have said many times, Obama isn’t helping the people who voted him into office that thought they would get help that really needed it! The poor blacks and whites are left out of the loop to keep on suffering. You need to read the whole story to understand, so go back and read it from the source!