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Old 02-20-2009, 01:38 AM
 
105 posts, read 195,368 times
Reputation: 33

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Quote:
Originally Posted by bale002 View Post

Finally, it is ironic to observe that the so-called "minorities" are taking over this country just as it accelerates down the slippery slope of decline and soon it will not even be worth having the responsibility of governing it, a parting shot so to speak. But this has happened before in human history.
Tragically the truth and other things coming

US, Germany, France, UK face junk debt status
By Päivi Munter in London
Published: March 20 2005 21:35 | Last updated: March 20 2005 21:35
FT.com / UK - US, Germany, France, UK face junk debt status
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Old 02-20-2009, 06:50 AM
 
Location: Mid-Atlantic
1,820 posts, read 3,905,538 times
Reputation: 1896
Quote:
Originally Posted by Houston3 View Post
So we now reward those that made poor choices? And I'm sure there had to be a lot of lies on the borrower and lender side of the loans. The new American way.

Agreed. I am an Obama supporter, however,this plan is not going to help those that truly and responsibly need the help.
Here's our deal... short version.(some have seen or heard it before..)
Built a home a year and a half ago, thought it was going to be a very long term house (we have moved several times for my husband's job),otherwise we would have never chosen to build...
Didn't purchase a home above our means,didn't have an arm,didn't do a sub-prime,etc... we did all the responsible things.
We are current on our mortgage,however,not living in our house because we had to unexpectantly relocate for his job-again!
Company doesn't purchase the homes as part of their relo.
Now we have a home sitting that isn't selling and we are suppose to be okay with that? there are several homes in our neighborhood where our house is sitting that are going into foreclosure,we can't even get someone to look at the house,let alone,buy it.
We are now having to pay 2 mortgages,2 hoa fees,2 sets of Utility bills,etc... but we should be okay that those people that MIGHT be at risk of loosing their homes because of their choices,we are going to help them?
Who is going to pay our 2nd mortgage that are having to pay and now sacrafice our kids' activities,our grocery bills,our outings because we want to save in any way possible?
Who is helping us?
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Old 02-20-2009, 07:51 AM
 
Location: Mid-Atlantic
1,820 posts, read 3,905,538 times
Reputation: 1896
Let me just add one more thing... here is an example of what makes me so angry about this...
As stated above,our neighborhood that our home is sitting in right now is being plagued by foreclosures,mainly young couples who wanted to buy something they should have never been given the capability to do so...
Our home will never sell at a decent price because of these forclosures and homes being put up for auction... we know that. It is the way that it is.
Why though,should these people who were irresponsible,those that have already walked away from their homes,be able to live better than those that ARE being responsible??
One of our neighbors has abandoned their home,are now renting a house in an extremely affluent area,living the "high" life,going to the social parties,GOING ON VACATIONS,etc..
all on who's money?? not theirs I am sure,otherwise,why aren't they paying their mortgage?
So they get to continue on as though nothing matters because the bank has taken over their payments now and we sit back and basically do nothing because all our money is being paid on 2 mortgages?
I am confused as to why this is okay?
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Old 02-20-2009, 08:12 AM
 
1,567 posts, read 2,697,003 times
Reputation: 1262
Quote:
Originally Posted by cdelena View Post
Although I am not generally a fan of bail-outs or the new administration, I think this plan is a reasonable strategy to reduce housing pressure and help citizens. Congratulations Mr. President, this is your first winner in my book.
Yes using taxpayer money to bail out idiots (which ironically will keep housing prices artificially high, yet again punishing those who actually make responsible decisions and at their expense) makes perfect sense.

A month into his presidency and Obama already makes me sick to my stomach.
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Old 02-20-2009, 09:23 AM
 
22,770 posts, read 25,245,834 times
Reputation: 14506
Quote:
Originally Posted by cdelena View Post
This is a simple choice... you use tax money either way... You make the choice for your money; A) an empty house that you dump at a large loss that impacts the local market or B) take the same money and keep someone in the house with no additional negative impact on the market.
What is wrong with (A) ??

I know expensive housing is good for Baby Boomers, but why is expensive housing a good thing for the entire country?

Quote:
If you choose (A) you may also have to pay social services and housing funds for the people without a home.
I don't believe this. It isn't as if these people are homeless. They might rent, their standard of living might go down, but so what?
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Old 02-20-2009, 09:36 AM
 
Location: Charlotte, NC
2,193 posts, read 4,454,138 times
Reputation: 1072
This bailout is unfair.
This will just prolong the housing decline for years and years.

This totally sucks, I don't want to overpay for a home so I just have to keep waiting and waiting to purchase something?

This is ridiculous. The government is yet agan screwing the responsible ones over.
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Old 02-20-2009, 09:47 AM
 
1,567 posts, read 2,697,003 times
Reputation: 1262
Quote:
Originally Posted by NYMD67 View Post
Agreed. I am an Obama supporter, however,this plan is not going to help those that truly and responsibly need the help.
Here's our deal... short version.(some have seen or heard it before..)
Built a home a year and a half ago, thought it was going to be a very long term house (we have moved several times for my husband's job),otherwise we would have never chosen to build...
Didn't purchase a home above our means,didn't have an arm,didn't do a sub-prime,etc... we did all the responsible things.
We are current on our mortgage,however,not living in our house because we had to unexpectantly relocate for his job-again!
Company doesn't purchase the homes as part of their relo.
Now we have a home sitting that isn't selling and we are suppose to be okay with that? there are several homes in our neighborhood where our house is sitting that are going into foreclosure,we can't even get someone to look at the house,let alone,buy it.
We are now having to pay 2 mortgages,2 hoa fees,2 sets of Utility bills,etc... but we should be okay that those people that MIGHT be at risk of loosing their homes because of their choices,we are going to help them?
Who is going to pay our 2nd mortgage that are having to pay and now sacrafice our kids' activities,our grocery bills,our outings because we want to save in any way possible?
Who is helping us?

how are you an obama supporter if you strongly disagree with this since pretty much every financial idea is has is socialistic in nature just like this one?
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Old 02-20-2009, 10:09 AM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,058,131 times
Reputation: 4935
Quote:
Originally Posted by goodbyehollywood View Post
I argued and argued, but the best rates are reserved for delinquent borrowers, while those current and more qualified are expected to pay more.

"From each according to his ability, To each according to his need"

- Karl Marx


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Old 02-20-2009, 10:26 AM
 
Location: The Great State of Texas, Finally!
5,321 posts, read 10,597,382 times
Reputation: 2395
The admin's solution is just going to prolong the pain. The answer isn't to keep irresponsible people in their homes at the expense of the responsible, but rather to increase demand by offerning incentives to those who already have liquidity. Until you can get the people who can afford to purchase homes motivated to do so and get those values up and clear some of the inventory, nothing will change. how is lowering irresponble people's payments by a hundred dollars or so a month going to do anything? That money saved may get spent into the economy, but ultimately in the long run, this will hurt us, and we'll have higher taxes to pay off plans that didn't work. Talk about bad money following bad.
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Old 02-20-2009, 10:27 AM
 
1,567 posts, read 2,697,003 times
Reputation: 1262
Quote:
Originally Posted by k374 View Post

"From each according to his ability, To each according to his need"

- Karl Marx



**** marx
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