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Current Events => The DUmpster => Topic started by: Carl on March 27, 2010, 08:37:46 AM

Title: Sincere question: How can the government order banks to waive mortgage payments
Post by: Carl on March 27, 2010, 08:37:46 AM

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8030796

Quote

Kurt_and_Hunter  (1000+ posts)       Sat Mar-27-10 09:27 AM
Original message
Sincere question: How can the government order banks to waive mortgage payments for unemployed?
 Edited on Sat Mar-27-10 09:35 AM by Kurt_and_Hunter
I have read a couple of articles about the new mortgage program and seen some stories on TV and I haven't seen any discussion of how such a plan could be.

Where does the authority come from? I don't know any way the Executive branch can just order a bank to suspend mortgage payments. (Which is to say, to amend a contract between two private parties extrajudicially... outside a court.)

Encourage, incentivize... sure. But this thing is framed as "ordered" and "required"

Are we talking about proposed legislation or what?

Does anyone have insight into this?

Thanks
 

New but might be interesting.

Title: Re: Sincere question: How can the government order banks to waive mortgage payments
Post by: jinxmchue on March 27, 2010, 08:44:14 AM

Good question.  Unfortunately it is being wasted on people too blind to see the correct answer.

Title: Re: Sincere question: How can the government order banks to waive mortgage payments
Post by: crockspot on March 27, 2010, 09:09:40 AM

Quote from: jinxmchue on March 27, 2010, 08:44:14 AM

Good question.  Unfortunately it is being wasted on people too blind to see the correct answer.

They would know the answer if it was BOOOOSH doing it.

Title: Re: Sincere question: How can the government order banks to waive mortgage payments
Post by: USA4ME on March 27, 2010, 09:16:38 AM

Sounds like a bunch of primitives need to go back and read The Communist Manifesto in order to see what Dear Leader would like to be able to do.

.

Title: Re: Sincere question: How can the government order banks to waive mortgage payments
Post by: Freeper on March 27, 2010, 11:34:19 AM

They can do whatever they want. The recent HC bill showed us that.

Title: Re: Sincere question: How can the government order banks to waive mortgage payments
Post by: The Village Idiot on March 27, 2010, 11:35:24 AM

"I won"