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Author Topic: Sincere question: How can the government order banks to waive mortgage payments  (Read 1151 times)

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Offline Carl

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Sincere question: How can the government order banks to waive mortgage payments
« on: March 27, 2010, 08:37:46 AM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8030796

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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.
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Offline jinxmchue

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Re: Sincere question: How can the government order banks to waive mortgage payments
« Reply #1 on: March 27, 2010, 08:44:14 AM »
Good question.  Unfortunately it is being wasted on people too blind to see the correct answer.
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Offline crockspot

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Re: Sincere question: How can the government order banks to waive mortgage payments
« Reply #2 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.
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Offline USA4ME

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Re: Sincere question: How can the government order banks to waive mortgage payments
« Reply #3 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.

.
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Offline Freeper

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Re: Sincere question: How can the government order banks to waive mortgage payments
« Reply #4 on: March 27, 2010, 11:34:19 AM »
They can do whatever they want. The recent HC bill showed us that.
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Offline The Village Idiot

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Re: Sincere question: How can the government order banks to waive mortgage payments
« Reply #5 on: March 27, 2010, 11:35:24 AM »
"I won"
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