Foreclosure Bail Out Proposal...vote for me (loans, credit, debt)

[CreditWitch]

Abstract thinking.....

I, Ms. Jane Doe from middle class am running for President.

If elected President I will create a small welfare program to assist certian qualifying individuals that are loosing their homes.

To qualify you must:

Show you bought your home with adequate funds set aside for at least one month mortgage in the event of major repairs or job loss. Show those funds were spent trying to save your home

Loosing home due to sickness or lay offs.



Not qualified.....

People who made poor choices in spouses, interest rates, bought above their means during the rush of the buying experience, purchased to flip or resell at a profit to pay off other debt.

All mortages qualifying for this new Welfare will be admitted in to my program titled: Property Welfare.

Conditions of this program include: attending one online economics class online that you must pass, limited debt allowance, ownership of property of at least 5 years.

From this point forward I will pass a bill eliminating intrest only loans.

[Wild Style]

My opinion is if you took out a exotic loan and can't pay then let them lose it. If you don't have a exotic loan and you fall behind because of illness/job loss or whatever help them.

[bxlefty23]

if you cant afford it live in the street
too bad

[Wild Style]

^^

That is a bit extreme. We would be no better than barbarians if we took such a policy. Better they rent.

[Rose Red]

To logical. No one would go for it.

[CreditWitch]

Originally Posted by Rose Red

To logical. No one would go for it.

Correct....too many liberal socialists in the country that thinks the government should bail out business and consumer.

Wana here my oil plan???

[Wild Style]

bailing out business has nothing to do with liberal socialist. That is being done under republican watch. Many other republicans ave bailed out business before in the past. It comes down to market interference. The thing is, I think these politicians are seeing the big picture. You either bail companies out or erode investor confidence and watch the stock markets come tumbling down. Just like with the homes, they figure we can save some or watch ghost towns start to crop up. Its a damned if you do, damned if you don't sort of situation.

Originally Posted by CreditWitch

Correct....too many liberal socialists in the country that thinks the government should bail out business and consumer.

Wana here my oil plan???

[Dd714]

How about I, along with the rest of the voting population, vote against you and see you go down in a landslide defeat. Which will happen since polls show the majority of americans reject any tax-payor bail out programs.

Trouble due to sickness and/or layoff? Sorry taxpayers already help those - it's called unemployment benifits, early social security payouts, and medicare/medicaid and other programs.

[CreditWitch]

Originally Posted by Dd714

How about I, along with the rest of the voting population, vote against you and see you go down in a landslide defeat. Which will happen since polls show the majority of americans reject any tax-payor bail out programs.

Trouble due to sickness and/or layoff? Sorry taxpayers already help those - it's called unemployment benifits, early social security payouts, and medicare/medicaid and other programs.

Please note the thread was sacrasim. I agree with you 100%. The hand out...I deserve mentaility is kill America. Good post.

[Dd714]

Originally Posted by CreditWitch

Please note the thread was sacrasim. I agree with you 100%. The hand out...I deserve mentaility is kill America. Good post.

Ahhh, good. You know, both Hillary and Obama have bail out programs. Hillary's will add like 10,000 pages to the already complex tax code. Way to go Hillary, just what we need.

Good politics of course, because even though the average voter is against a bail-out, it's not the primary issue (Iraq and the economy in general are) so they aren't going to particularly vote against a candidate with a bail-out program. On the other hand for those facing foreclosure it is a primary voting issue and will base their choice on that.

Of course, it's all irrelevant and quite meaningless (as any campaign promise essentially is) because Hillary or Obama won't be in office for about a year and then will have to go through the congressional hurdles to get any bail out program approved, and America will wake up and say "hey, whoah, I'm not bailing out these deadbeats".

Kudos to McCain for not jumping on the "bail-out" bandwagan for votes (although I can't say I will vote for him at this point).