Breaking News: HUD To Offer Interest-Free Loans To Distressed Homeowners

Tyler Durden's picture

So who were all those saying this is an insane plan?


Washington (AP) -- The Obama administration is providing $3 billion to unemployed homeowners facing foreclosure in the nation's toughest job markets.

The Treasury Department says it will send $2 billion to 17 states that have unemployment rates higher than the national average for a year. They will use the money for programs to aid unemployed homeowners. Some of those states have already designed such programs.

Another $1 billion will go to a new program being run by the Department of Housing and Urban Development. It will provide homeowners with emergency zero-interest rate loans of up to $50,000 for up to two years.

The administration was required to launch the programs by the financial regulatory bill signed by President Barack Obama last month.

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oklaboy's picture

imagine that, just in time for fall elections

mikla's picture

Free stuff?  I want some!

And a pony.

aheady's picture

You'll get nothing and like it.

Takingbets's picture

Ha! I love that post!

You sure do know how to brighten up a gals day my friend. :-D

Overpowered By Funk's picture

I miss the Hippy Dippy Weatherman. He had a ton of insight and comic genius. I bet he's having a good laugh at our peril.

chunkylover42's picture

here, how about some vaseline instead.  trust me, you'll appreciate it more than a pony anyway.

knukles's picture

Whoa, slow down!  Let's not get ahead of ourselves here.  How about the pony, the Vaseline and some animal tranquilizers. 

New meaning to the Circus half of Bread and Circuses.

Cognitive Dissonance's picture


Looks like knukles has his freak on today. :>)

JLee2027's picture

Free stuff?  I want some!

And a pony.

Thanks for the laugh!

StychoKiller's picture

I'm a homeowner AND I'm distressed (by all the insanity, that is!), so gimme a suitcase full of FRNs too!

WaterWings's picture

The US Central Bank is so crafty. If I could guess what was next I'd be a rich asshole.

BobWatNorCal's picture

This is one of those multi-thousand page Bills the lawmakers

didn't have time to read, right?

Ragnarok's picture

Vote buying BS! Stop paying your taxes, stop consuming and throw their FRNs back in their face.

Shameful's picture

I expect what you mean by "throw their FRNs back in their face" is to buy gold/silver?  To make it more interesting to keep that scheme rolling.  I have little interest in throwing my labor using it to create a little chaos and comedy on the other hand...

Ragnarok's picture

I guess what I mean by that is cash out of any paper promises denominated in USDs, buy real world items that can produce cash-flow (farms, oil wells, import/export of daily necessities) and yes some PMs.  It will not make a difference in the long run, but then I don't get upset I simply laugh.  Trying to get my family to do the same.

Paper CRUSHer's picture

F*** Q.E.2 this is much more like it.Thank you Mr President......Dumb Bastards.

Paper CRUSHer's picture

Mr President i dedicate this to you...

I used to be such a welfare stoner
I used to be such a twilight zoner
I used to be such a moneybumming boozer
I used to be such a masochistic schmoozer
But now I'm worldwide-
you know that I made it
I'm above the law -
I'm the zillion dollar sadist
Zillion dollar sadist
What do you want what do you want for nothing baby
What do you want what do you want for free
I tell you what you need,
it's some Hanky-action baby
I wanna hear you scream in denim ecstasy
Yes indeed
Cause now I'm worldwide-
you know that I made it
I'm above the law -
I'm the zillion dollar sadist
Zillion dollar sadist
Well c'mon


Popo's picture

Let's do that whole 'bubble' thing again!  Yay!

LePetomane's picture

Public sector employment demands it!

techperson's picture

Silicon Valley bumper sticker circa 2004:

"Please, God, Just One More Bubble"

gringo28's picture

take a look at the recipient states, CA is by far the largest at 500mm. nice way to play the big give is MREITs. at least you get something for your tax dollar......

IrishSamurai's picture

Moral Hazard on Steroids, Bitchez!

Pegasus Muse's picture

Vote every incumbent out.

Tense INDIAN's picture

i think all AMRICANS should be seriuosly thinking about their GUNS now and not about vote.....well forgive me for being suspicious...even RON PAUL looks like a controlled opposition to me( why is his son advocating war with IRAN; a true patriot will always know that is wrong).................

NotApplicable's picture

The father is not the son. Nor vice versa.

MSJChE's picture

Rand realizes he has to cater to the typical neocon to get elected.  I think (hope) he's just keeping his real opinions close to his chest until November.


First post, btw.


Peter Thiel is one of Ron Paul’s main advisors (read handler) and Mr. Thiel is a Bilderberger

Village Idiot's picture



Run the bumper sticker presses!!!

ATG's picture

Rearranging debt chairs on the USS Titanic.

As usual with PPIP, TALF and TARP bailouts for the banks and not the people, the devil in the details.

Obrama Brand and Made in USA died...

rubearish10's picture

Government leadership "rule of thumb": Give to those who make the worst mistakes and exploit the children (by keeping teachers). Wow, what world...

IBelieveInMagic's picture

Better to employ teachers than to fund our young to kill other human in endless wars. That is soul destroying! 

rubearish10's picture

Didn't think of that outcome.....ummm better do some of my own soul searching??? What have i missed? Are you a teacher? Sorry but comment was a macro fundamental and political remark, that's all. Over and out.

ColonelCooper's picture

I junked you.

Who the Hell said it was an either or proposition?

IBelieveInMagic's picture

I don't see such raging concerns being expressed when nearly trillion dollar defense budgets are routinely passed annually with minimum of coverage (more than defense spending of hundreds of countries combined). Just sayin... 

ColonelCooper's picture

That's a perfectly logical comment, but your original comparison has nothing to do with the topic of this thread.  Maybe if the Gov. wasn't so eager to prop up the lifestyle of people who can't/won't support themselves, those people would make more of an effort to stay informed, and have more raging concerns than who's going to be on Dancing with the Stars this go around.

I would say that you find more raging against the U.S. Military machine on ZH than any other place where the average user isn't a Libertarian just because they're pro bong hits.

This is simply an effort to buy some continued apathy.

Mactheknife's picture

You knowwhat they say, "Those that can, do; those that can't, teach."

MachoMan's picture

And then if you want to impose de minimis standards on them via testing/peer review, they get all uppity...  as if they might actually have to compete for a job and/or care about their performance. 

Raymond K Hessel's picture

....and those that can't teach, teach gym!



Mactheknife's picture

You know what they say, "Those that can, do; those that can't, teach."

DosZap's picture

Here's your action!

This shit makes me sick.

Don't get me started on screwls.

$8,000.00 per student per year, and 70% of them cannot even pass 6th grade classes............most cannot even read, or write, and never graduate High School.

This is public edumacation at it's best.

Until the NEA is brought down, and Vouchers are issued to parents...........

We will still pay more per student to come up with the most illiterate amongst the rest of the civilized world.

StychoKiller's picture

"Everything you Know is Wrong" ISBN: 978-1-56731-637-7, Chapter entitled "Some Lessons from the Underground History of American Education" pretty much explains all you need to know on WHY this is happening.

bonddude's picture

So let's all get distressed.

How many times until we know this doesn't work?

VK's picture

Dumb a$$holes!!