Boehner knocks Obama’s new housing proposal
February 1st, 2012
01:32 PM ET
2 years ago

Boehner knocks Obama’s new housing proposal

Washington (CNN) – House Speaker John Boehner is expressing skepticism about President Obama’s latest plan to lift the country’s housing market, suggesting government programs designed to help mortgage holders have long proven ineffective.

“We've done this at least four times where there's some new government program to help homeowners who have trouble with their mortgages,” Boehner told reporters on Capitol Hill Wednesday. “None of these programs have worked and I don't know why anyone would think that this next idea's going to work and all they've done is delay the clearing of the market. “

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Filed under: John Boehner • President Obama
soundoff (50 Responses)
  1. Fair is Fair

    GROVER NORQUIST IS A ENEMY OF THE STATE

    Pretty much Bonehead is aligned with his party's frontrunner of letting the foreclosure process run it's course and kick people out of their homes.
    ---------
    Look. The problem is 2-fold. First, the people who bought these homes paid too much and couldn't afford to do so in the first place. If you don't have a job, what good is saving $200 a month on a mortgage payment you cannot make rgardless? Either way, the house is going to wind up in foreclosure – AND bring down the property values of their neighbors with them. It's a bad situation all around, but this is not tee-ball where everyoe gets a trophy. There are winners and losers. That's life. Deal with it.

    February 1, 2012 02:34 pm at 2:34 pm |
  2. Data Driven

    "The clearing of the market"

    Meaning, an orgy of foreclosures by big banks. Why do Boehner and Romney want to see struggling Americans tossed out on the streets?

    February 1, 2012 02:34 pm at 2:34 pm |
  3. Gurgi

    The only bad part about making the big banks pay fees is that all the banks will do is figure a way to transfer the "fee" onto their customers. Just like big businesses, the banks will not lose money. When government puts any kind of fee or tax to a business or bank, does anybody really believe they will take it out of their profits? One way or another, the customer will pay.

    February 1, 2012 02:35 pm at 2:35 pm |
  4. Jefferson Girl

    Boehner is a complete and total failure

    February 1, 2012 02:37 pm at 2:37 pm |
  5. nuff said

    Actually this can work, of course it means cutting the banks completely out of the mortgaage markets but too bad. There really is no reason for the ridiculous fees banks charge to refi loans that are less than 5 years old and current. If this was done 3 years ago this mess would be much smaller and over already. Boehner-this will work, get on the right side for once-
    -waiting to refi–3.5%

    February 1, 2012 02:38 pm at 2:38 pm |
  6. J-Alabama

    Now CNN, *with my Jan Brewer finger* this would have been news if he would have said yes..

    February 1, 2012 02:39 pm at 2:39 pm |
  7. Gurgi

    Americans seem to be getting the attention span of a gnat. I guess that is why politicians of all stripes focus on talking points rather than talking about issues/solutions.

    February 1, 2012 02:42 pm at 2:42 pm |
  8. Four and The Door

    Data Driven
    "The clearing of the market"
    Meaning, an orgy of foreclosures by big banks. Why do Boehner and Romney want to see struggling Americans tossed out on the streets?
    ________________________________________________________________________________________________
    The housing market will not recover for years. But it does need to do that so young families do not have to rent forever. Getting a mortgage will be extremely difficult until the housing market is stable. Artificially delaying the recovery will stall overall economic recovery. Obama's vision forward ends in the second week of November. Americans need to look out farther than that.

    February 1, 2012 02:45 pm at 2:45 pm |
  9. Squigman

    What proposal have you come up with, dim wit.

    February 1, 2012 02:49 pm at 2:49 pm |
  10. The Greedy Old Pigs have declared class war on US!

    Hey Orangeman, since you're so concerned, why not allow bankruptcy "cram-downs" on primary residences? That would cost the government NOTHING. Of course the banking interests that own your sorry drunk orange butt would disown you, but you're patriotic enough to do the right thing, aren't you?

    February 1, 2012 02:49 pm at 2:49 pm |
  11. The Real Tom Paine

    With regards to the gnat comment, I think you are generous, Gurgi, but that's what most politcal consultants and pundits are counting on. If our collective memeories were longer, they would be out of business.

    February 1, 2012 02:50 pm at 2:50 pm |
  12. Biggge

    No surprize, matter of fact where has he been....Even the Rep's are tried of House Speaker John Boehner with no idea's to help anyone...The only time he speaks is when a proposal has been made by Obama Administration, the Speakers day are numbered...And for the group who believe people brought Big Screen TV's instead of paying mortgage, insane. Families were not the group sending jobs oversea's, people act like they don't understand what happen. People lost jobs which mean lost homes, get off your soup box and be thankful it did not happen to U...

    February 1, 2012 02:51 pm at 2:51 pm |
  13. Rudy NYC

    This is all too easy. Republicans are going to paint themselves into another corner, complete iwth Mitt Romney leading the way. Mitt Romney has advocated letting the housing market run its' course, suggesting that investors could come in and buy up the used homes so that they could rent them out. Rent them out to the middle class folks who lost their homes or can no longer afford to buy one. That's going to go over really well come Election Day.

    February 1, 2012 02:52 pm at 2:52 pm |
  14. Joe from CT, not Lieberman

    As a homeowner, I dread hearing that any house on the street where I live, or in my neighborhood, is in foreclosure. Why? because it degrades the property values of the other homes in the area. These houses stay empty for a longer period than a non-foreclosed properties, leading to increased potential for vandalism. Because they are not occupied, the lien holders are not going in to make sure the properties are maintained properly.
    Now, I realize that Speaker Boehner would never live in a neighborhood where this is likely, but probably 99% of the American Homeowners are just one pink-slip away from staving off foreclosure. This happened to my Dad back in the 1950s. He ended up forfeiting his VA Home Loan benefit when he sold the home at a loss. It happened to me over 10 years ago as a result of a divorce. My ex and I ended up in a short-sell and I forfeited my VA Home Loan benefit.
    It took my dad and I years to recover to the point where we were able to qualify for new mortgages for home purchases! He kept his until he realized he was too old to take care of it. My wife and I still have ours. Unfortunately thanks to the market, we are slightly under water, but because of our incomes we are not in trouble.
    The disparity I do not appreciate, though, is she and I have followed the rules and kept up with out payments without missing any. We cannot get a modification because of that. If we had missed payments, we would be eligible to not only get our interest reduced, but possibly our principal lowered! Like I said, this is a disparity.

    February 1, 2012 02:53 pm at 2:53 pm |
  15. nyc dem

    Don't worry bone head. 2013 you will not be the speaker of the house

    February 1, 2012 02:56 pm at 2:56 pm |
  16. The Real Tom Paine

    Four, do any of your statements have a point? You are contradicting yourself. Yes, teh amrket will take a long time to recover, but we have an immediate problem that does need to be address so the housing market can stabilise. It does suck that the banks are being asked to pay a fee, but, in light of the fact they approved far more of the subprime mortgages than fannie and Freddie, they are lucky this all they ahve to do. People need to get over the idea they can get something for nothing, and the higher fees and more stringent conditions banks are currently setting are the way to ensure the housing market has a stable recovery. Obama's idea is an attempt to address the short term need so we can adress the long-term. Now do you think Boehner shoudl eb apart of this porcess, or continue to pout and contribute nothing?

    February 1, 2012 03:01 pm at 3:01 pm |
  17. Gurgi

    @Rudy, Granted, Romney is sounding like a business man. And what he said would be good business. BUT,,,,and this is where I think he loses out, it makes him sound a bit heartless, which is the part that will resonate in a negative way with voters.

    February 1, 2012 03:07 pm at 3:07 pm |
  18. Nick

    Joe from CT – well said, I agree 100%. Tom Paine – same to you!

    Moon base... FL needs mortgage help, not moon bases.

    February 1, 2012 03:09 pm at 3:09 pm |
  19. GonzoinHouston

    The object is to spread the foreclosures over a longer time period to reduce the sudden shocks to the housing market. These shocks cause collateral damage like related business closures which in turn makes matters worse. An extra 10 million foreclosures over 5 years is bad; but if they all come in one month it's a disaster. Obama's program will not prevent the foreclosures as much as it will delay them. It doesn't solve the problem but it helps, and that's why Boehner is opposed.

    February 1, 2012 03:09 pm at 3:09 pm |
  20. Roger

    Of course he's criticizing the proposals – It's Pres. Obama who made them. It is time for Boehner and his merry men to exit stage left – they have held this country hostage for going on two years and enough is enough. They refuse to work with President Obama and even meet him half way. America is tired of all this gridlock – Boehner, Canter, – time for you to say adios.

    February 1, 2012 03:13 pm at 3:13 pm |
  21. NZ

    Man! This is just another one of Obama's attempts at getting elected for a second term. He knows that the republican dominated house will not approve this bill. The republicans will not approve this bill because of politics. Obama will be fine with them not approving it so he can throw a pity party and whine about what the republicans are doing to him and our country. This will also be for the sake of politics. Can we please get a true patriot for a candidate that is more concerned about fixing our country than their own political gain?

    February 1, 2012 03:21 pm at 3:21 pm |
  22. John in Brooklyn

    Nicely put, Mikey!

    February 1, 2012 03:25 pm at 3:25 pm |
  23. The Real Tom Paine

    Romney is a creature of his experience, Gurgi. Adam Smith stated that businessmen could not be relied upon to lead a nation, since they could not be trusted to put the nation's interests above their own. Now, if the godfather of capitalism said that, should we really argue? Romney is what Jefferson and Madison referred to as a " stock-jobber", someone who manipulates money and markets while producing nothing. We can argue with how relevant that may be in the 21st century, but in my personal opinion is they absolutely correct. Your comment about Romney seeming to be hearltess is spot-on, by the way. His empathy seems forced.

    February 1, 2012 03:34 pm at 3:34 pm |
  24. GI Joe

    Protect that market, Boehner, protect that market.

    What a putz.

    February 1, 2012 03:37 pm at 3:37 pm |
  25. vet in texas

    From these posts, you can tell which Americans form their own ideas and opinions based on facts and common sense, and you tell which ones get there ideas and opinions based on what someone else said or they heard from gold/emergency food/carbonite salesmen.

    The all knowing today had a caller speak about the success of their refinance.........and he immediately went to a commercial break to hawk his wares and tell us "what Obama really means, what they going to do", blah, blah, blah......I wish you would have told us what W was "really meaning and trying to do" before it was too late!

    February 1, 2012 03:54 pm at 3:54 pm |
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