RUSH: This morning in Washington at the White House — this is the same press conference where a reporter said, ‘What about the Somali pirates, what about the Somali pirates?’ ‘We’re talking about housing today, guys, okay?’ He declined to answer the question. This is the same meeting and here’s what the teleprompter told him to say about housing and refinancing.
OBAMA: There’s seven to nine million people across the country who, right now, could be taking advantage of lower mortgage rates. We estimate that the average family can get anywhere from $1,600 to $2,000 a year in savings by taking advantage of these various mortgage programs that have been in place.
RUSH: Don’t fall for this.
OBAMA: You can go to MakingHomeAffordable.gov —
RUSH: Oh, no —
OBAMA: — MakingHomeAffordable.gov, and the way the website is designed, you can plug in your information and immediately find out whether or not you’re potentially eligible for one of these — one of these mortgage refinancings.
RUSH: Folks, don’t fall for this. It was just this week we had the story about people that accessed the first of these programs, and a lot of these people had payments go up, a lot of their payments went down so minimally they didn’t notice it. It’s not what happens, and it’s not what he says, it’s how he says it. So now there’s a website, MakingHomeAffordable.gov. Obama’s going to make your house affordable. And this is attempt number two. We just had the story it didn’t work the first time. Now you can go there, and you can plug in your information, immediately find out whether or not you’re potentially eligible for one of these mortgage refinancings. I’ll go to this website. I’m going to go in there, ‘I got a mortgage of $15 million, I’ve got a down payment of $5 million, my bank is screwing me around, can I get help from you?’ Just to see what happens. I wonder if the fields in there will take like a $15 million mortgage. I’m sure there’s a note for comments. ‘And, by the way, I hate the fact I can’t deduct all of my interest on the mortgage like people who only make a hundred thousand dollars can. It’s not fair, government.’ And see if I get some fairness. Now, here’s Obama warning all of you people who are going to go to MakingHomeAffordable.gov, don’t be fooled by cheap imitations.
OBAMA: I just want everybody who’s watching today to know that if somebody’s asking you for money up front before they help you with your refinancing, it’s probably a scam. So take advantage of MakingHomeAffordable.gov, and that will allow you to figure out exactly how to proceed on this in a way that’s making you money, saving you money, as opposed to costing you money.
RUSH: Making you money? What is it, MakingHomeAffordable.gov, go in there and plug in your pathetic figures, listen to the administration’s website tell you whether you qualify, but if anybody demands money up front — (laughing) — that’s right, the government demands money all the time, at the end, from the front, from the rear, from the down, from the up. What do we got? We got scammers out there? Obama’s admitting that there are scam artists in America now that he’s president? They’re going to take advantage of the people? Don’t be fooled. (laughing) He realizes he’s got competition. (laughing) He’s in competition with the loan sharks.