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Government offering distressed mortgage holders 2% interest rates, historically low interest rates, five year 2% interest rate period, adjustable rates after 5 year mark
You really need to take a breath. Unlike you, i don't not have or even pretend to have a solution for anyone's misfortunes due to no fault of their own.
My comment was in response to your issue towards the homebuyers receiving assistance and the fact that everyone is not a deadbeat.
If you as well as TheOAKMAN want to equate my comments concerning the assistance the government provide to renters as well as homeowners as a means to sound as if your untouchable to whats going on with this Economy. Then i will leave you to continue to sound like IDIOTS.
Rofl, what you don't seem to understand is that these policies hurt American's who are even LESS FORTUNATE than your parents. What's good for you parents from this policy is not good for all Americans, in facts, it's down right disgusting from a moral standpoint that people who own homes are being supplied capital at the expense of people who don't. You even made the insulting suggestion that other people should go for section 8 assistance. You know, Wal Mart says the same thing to it's employees when they want a raise or gasp...health benefits.
Why, why pay someone else mortgage that will probably go through the same program that everyone is complaining about. And as it has been pointed out so perfectly by the poster, Even with he one income in the house, they would not qualify
Oh my god, did you honestly just post that? Why pay someone else's mortgage? That's the question we are asking you!!!!!!!!!!
Rofl, what you don't seem to understand is that these policies hurt American's who are even LESS FORTUNATE than your parents. What's good for you parents from this policy is not good for all Americans, in facts, it's down right disgusting from a moral standpoint that people who own homes are being supplied capital at the expense of people who don't. You even made the insulting suggestion that other people should go for section 8 assistance. You know, Wal Mart says the same thing to it's employees when they want a raise or gasp...health benefits.
Are you serious? Point out one instance in any of my responses that i suggested that. And again, there are several different programs out there to assist homeowners. It is not the government saying "here, here's some money to pay your mortgage". Refinancing under the "government" program requires the PMI insurance, so while the banks/government is getting their money back, less is going towards the principle. the PMI insurance is not for 3,4,5 years its for 10 years. So who do you think will really benefit from the bailout.
again, point out where i suggested for someone to apply for section 8. If NJ property tax was at an affordable rate, not only would homeowners have the ability to afford their mortgage, but renters wouldn't get hit with paying 1500 for an apartment because the landlord property tax is 8K. More people would be less afraid to purchase a home if the property taxes weren't more than the mortgage payment.
While I have sympathy for your parents, have you stopped to consider the thousands (if not millions) of Americans in the exact same position as your parents, having lost jobs, struggling to pay medical bills, who don't have the privilege of owning their own homes?
Where's their rent reduction? Who is stepping in to pay their rent? Why are we using their tax money to subsidize homeowners?
Helping out people who need a roof over their heads is one thing. Selectively helping homeowners at the expense of other people just as unfortunately who don't own homes is blantant pandering to political voting blocks; it's not being done out of the kindness of anyone's heart.
Oh sure, there are some outright bums out there who have been living off of the government welfare and not even working. We can talk about all of the wasteful government spending on these giveaways.
The average middle or lower-middle class family doesn't qualify for any of that Section 8 HUD nonsense, and you know it. It's typically the non-working welfare class that lives in those places.
But besides, homeowners have already been getting equal, if not superior, tax breaks for years and years, far surpassing anything the govt has spent on HUD or Section 8.
Ever hear of the mortgage interest deduction? Have any idea how much of a giveaway to homeowners that's been? How about the tax-free gains on sale of your primary residence? Any idea of the staggering amoung of tax-free money homeowers have made off of that little govt giveaway?
For every dollar the govt spent on helping out renters in normal times, the govt spent 2 dollars on perks for homeowners during those times.
So the score is already more than even. Now the homeowners want more bail out.
And you've done nothing to answer my question about the hardworking family in the same position as your parents, living in a rented apartment and falling on hard times. What's your answer for them? Are they supposed to move and go find Section 8 housing somewhere? And if that's good enough for them, why is your family too important to be uprooted and go find some section 8 housing on their own.
Again, nothing more than a sense of entitlement. I have it, I want to keep it, and I don't care if other people never had it, they can pay for me to keep it.
Oh my god, did you honestly just post that? Why pay someone else's mortgage? That's the question we are asking you!!!!!!!!!!
Yes i most certainly did. Why should anyone sell a home just to depend strictly on the government which is what's being suggested here?
There is a major difference between the program that i have stated where the house is not foreclosed or pre-forclosed. The portion of the program that i'm aware of is a refinance with PMI insurance 1 point below the average interest rate. whoo hoo.
What i'm hearing from the posts is, sell the house, pocket whatever equity is in the house and go get on section 8 and collect from the government. Are you serious?
Me personally, i'm renting and i'm tired of paying my landlords mortgage. Its not the economy that has me scared from purchasing a home, its the NJ Property taxes. And before their is a smart comment about section 8, Not even an option, that stimulus package that the President is about to sign, will not benefit me AT ALL. This crap about helping the middle income family is just that crap. Apparently middle income is capped at $75K
Are you serious? Point out one instance in any of my responses that i suggested that. And again, there are several different programs out there to assist homeowners. It is not the government saying "here, here's some money to pay your mortgage". Refinancing under the "government" program requires the PMI insurance, so while the banks/government is getting their money back, less is going towards the principle. the PMI insurance is not for 3,4,5 years its for 10 years. So who do you think will really benefit from the bailout.
again, point out where i suggested for someone to apply for section 8. If NJ property tax was at an affordable rate, not only would homeowners have the ability to afford their mortgage, but renters wouldn't get hit with paying 1500 for an apartment because the landlord property tax is 8K. More people would be less afraid to purchase a home if the property taxes weren't more than the mortgage payment.
First off, I'm not in support of any bailout. No one is getting their money back on these bailouts. If you believe that, you are being naive.
I don't disagree that property taxes are beyond ridiculous in this state, but the solution to that isn't to send homeowners money at the expense of other taxpayers, some of whom, already pay property taxes themselves. I would encourage you to lobby as many people to vote for a candidate who truly understands why property taxes are so high and plans to actually take action to lower them.
This does not change the fact that this particular bailout bill sends money to homeowners at the expense of those who don't. You are giving to the haves from the have nots. This is completely immoral.
You specifically said "why should they pay someone elses mortgage?". I'm glad you see it our way. Why should we pay your parents mortgage? At least your parents would get a place to live in with those rental payments. We get nothing when our money is sent to your parents.
Yes i most certainly did. Why should anyone sell a home just to depend strictly on the government which is what's being suggested here?
There is a major difference between the program that i have stated where the house is not foreclosed or pre-forclosed. The portion of the program that i'm aware of is a refinance with PMI insurance 1 point below the average interest rate. whoo hoo.
What i'm hearing from the posts is, sell the house, pocket whatever equity is in the house and go get on section 8 and collect from the government. Are you serious?
Me personally, i'm renting and i'm tired of paying my landlords mortgage. Its not the economy that has me scared from purchasing a home, its the NJ Property taxes. And before their is a smart comment about section 8, Not even an option, that stimulus package that the President is about to sign, will not benefit me AT ALL. This crap about helping the middle income family is just that crap. Apparently middle income is capped at $75K
rofl, I don't want them to go to section 8. I don't want section 8 to exist. They should sell their house, take the equity, rent some place small until they get employed again, and then, maybe they can buy something again at a lower price! And the beauty of it is, they can do it with all their own money! Instead, you are advocating policies that will hurt people who rent and possibly put them out on the street in the process. Why should people less fortunate than your parents be forced to support their lifestyle which is possibly HIGHER than their own?
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