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The Obama administration wants to tackle the foreclosure problem by giving homeowners $2000 each, but the Republicans don't want to oblige to this initiative. Is it because it's ineffective ?
Where is the money going to come from. The country is broke, and borrowing just to pay the government.
Next, all the people in apartments, are going to complain that they are being disenfranchised, or discriminated against, because they aren't getting any obama dollars.
Actually by the time it goes into foreclosure they are months, if not over a year behind in payments.
They probably need more like $20K per person to dig themselves out of the hole here.
Where is the money going to come from. The country is broke, and borrowing just to pay the government.
Next, all the people in apartments, are going to complain that they are being disenfranchised, or discriminated against, because they aren't getting any obama dollars.
Yep, I just did (I'm reading this thread backwards)
Do you have ANY IDEA how many BILLIONS of dollars homeowners get in tax breaks and subsidies each year?
Actually by the time it goes into foreclosure they are months, if not over a year behind in payments.
They probably need more like $20K per person to dig themselves out of the hole here.
Right.
I mean, if they're $20K+ in the hole, it wouldn't do much good.
However, if they're in danger of missing payments, it would make a world of difference.
Right.
I mean, if they're $20K+ in the hole, it wouldn't do much good.
However, if they're in danger of missing payments, it would make a world of difference.
It takes months of missed payments to start the foreclosure process.
They are already in trouble.
You can't just hand someone $2K and expect all their financial problems to go away.
At least I don't.
But Obama does ?
If he's going to be Santa then go all the way.
Let the Fed eat the debt as they own most of the troubled mortgages today anyway and just consider all those foreclosed properties "paid for in full".
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