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Investors Reject Obama Mortgage Bailout Proposal

Buck O Wrote: Dec 28, 2012 10:44 AM
$12 billion? Big whoop. We'll just make "the rich" pay for it.
Joseph64 Wrote: Dec 28, 2012 11:26 AM
If we have any left after they all flee to the Bahamas or Singapore.
PurpleStateBlueVote Wrote: Dec 28, 2012 11:28 AM
Please, please, PLEASE just shut up and go already. Don't let the door hit you in the a@@ on the way out.
A long-rumored plan for the Obama Administration to facilitate federal purchases of underwater mortgages has begun taking shape, and a familiar story has emerged: investors and markets aren't fans of the idea.

The Wall Street Journal originally reported on the plan to expand mortgage relief even in the wake of what looks to be positive economic trends in the housing market. The mortgage relief program expansion would allow borrowers who aren't covered by Fannie Mae or Freddie Mac to participate.

CNBC reports:

Under the proposal eligible borrowers must be severely underwater, with a...