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Not directly mind you..but $3 billion is being allocated to states for homeowners.
To qualify..be out of work, be a homeowner and be at least 3 months behind on your mortgage (definition of a bad risk borrower ?)
Also, they have to have a reasonable likelihood of resuming their mortgage payments in the next two years.
I don't necessarily agree with this approach but I get the rationale. It does an already shaky economy no good if a bunch of people are foreclosed on. Otherwise, the market would be flooded with even more houses that will likely remain vacant for some time. This way, people get to keep their homes as the economy continues to recover. They are obviously betting that these people will get jobs again within two years.
To qualify..be out of work, be a homeowner and be at least 3 months behind on your mortgage (definition of a bad risk borrower ?)
:
Only in America.....
Only in America can the victim of an economy in shambles be seen with disgust. How exactly is a borrower with good job (or jobs), and a family, regular payer of mortgages... until he/she/them losing the job(s) make them a bad risk borrower?
I think the President is working with the compassion, for the people. You may not like it, but that is likely because you're not in that situation (yet).
Only in America can the victim of an economy in shambles be seen with disgust. How exactly is a borrower with good job (or jobs), and a family, regular payer of mortgages... until he/she/them losing the job(s) make them a bad risk borrower?
I think the President is working with the compassion, for the people. You may not like it, but that is likely because you're not in that situation (yet).
Since when is it the Govs responsibility to take care of all these people at the rest of our expense?
Sounds like a lot of these people, many of whom their credit is shot, are getting $50K to blow through with no recourse for the taxpayers getting a dime of this money back.
Pretty pitiful if you ask me but hey, this is America, lets just keep throwing money at a problem and hope nobody notices its still there.
Since when is it the Govs responsibility to take care of all these people at the rest of our expense?
Sounds like a lot of these people, many of whom their credit is shot, are getting $50K to blow through with no recourse for the taxpayers getting a dime of this money back.
Pretty pitiful if you ask me but hey, this is America, lets just keep throwing money at a problem and hope nobody notices its still there.
1. I think these people are also us.
2. It is government's responsibility to ensure conditions that doesn't drive the economy over a cliff and put everybody else in trouble also (that is still a strong possibility, so keep your seatbelts fastened, and hope the airbags work as advertised, even if you hate them).
3. It appears that you're either enjoying retirement and likely some of the benefits of a socialistic programs (SS and Medicare), or you've not experienced loss of job (yet). For many, it seems, the realization doesn't strike until they become a part of the landscape.
Only in America can the victim of an economy in shambles be seen with disgust. How exactly is a borrower with good job (or jobs), and a family, regular payer of mortgages... until he/she/them losing the job(s) make them a bad risk borrower?
I think the President is working with the compassion, for the people. You may not like it, but that is likely because you're not in that situation (yet).
Then you lose your house, you lose your toys and you downsize to that which all of us in the real world had to when we have hard times.
Its called responsibility, something apparently you have no concept of.
Then you lose your house, you lose your toys and you downsize to that which all of us in the real world had to when we have hard times.
Its called responsibility, something apparently you have no concept of.
Well let us see, if you end up dealing with the reality that many of these folks are, perhaps we can talk about "responsibility" then?
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