$75 Billion Housing Bailout, but MANY Questions for Obama (dollars, money, income)

[Kootr]

Six questions that Republicans are asking about Obama's Housing Bailout Plan that are NOT addressed:

What will your plan do for the over 90 percent of homeowners who are playing and paying by the rules?

Does your plan compensate banks for bad mortgages they should have never made in the first place?

Will individuals who misrepresented their income or assets on their original mortgage application be eligible to get the taxpayer funded assistance under your plan?

Will you require mortgage servicers to verify income and other eligibility standards before modifying mortgages?

What will you do to prevent the same mortgages that receive assistance and are modified from going into default three, six or eight months later?

How do you intend to move forward in the drafting of the legislation and who will author it?


http://www.cnn.com/2009/POLITICS/02/...lan/index.html

[th3vault]

This spending spree:

$800 billion for a stimulus package

$350 billion for the rest of the bank bailout

$30 billion more requested by GM and Chrysler

$75 billion for a foreclosure bailout.

Oh well, this is what you get with Democratic control...

Another week, another 100 billion dollars in spending...

[Art123]

Originally Posted by Kootr

Six questions that Republicans are asking about Obama's Housing Bailout Plan that are NOT addressed:

What will your plan do for the over 90 percent of homeowners who are playing and paying by the rules?

Does your plan compensate banks for bad mortgages they should have never made in the first place?

Will individuals who misrepresented their income or assets on their original mortgage application be eligible to get the taxpayer funded assistance under your plan?

Will you require mortgage servicers to verify income and other eligibility standards before modifying mortgages?

What will you do to prevent the same mortgages that receive assistance and are modified from going into default three, six or eight months later?

How do you intend to move forward in the drafting of the legislation and who will author it?


http://www.cnn.com/2009/POLITICS/02/...lan/index.html

It will help stabilize their falling home price.

There will be some people that deserve help that will not get it. There will be some people who do not deserve help who will get it. No bailout of this size is perfect. There are no guarantees, other than that inaction will guarantee that things get worse.

There is no legislation - it's part of the TARP money. It's to be spent at Geitner's discretion.

[Art123]

Originally Posted by th3vault

This spending spree:

$800 billion for a stimulus package

$350 billion for the rest of the bank bailout

$30 billion more requested by GM and Chrysler

$75 billion for a foreclosure bailout.

Oh well, this is what you get with Democratic control...

Another week, another 100 billion dollars in spending...

The $75 billion and $30billion (requested) for GM and Chrysler is actually a part of the $350 billion of the "bank bailout," a.k.a TARP money.

[Kootr]

Originally Posted by th3vault

This spending spree:

$800 billion for a stimulus package

$350 billion for the rest of the bank bailout

$30 billion more requested by GM and Chrysler

$75 billion for a foreclosure bailout.

Oh well, this is what you get with Democratic control...

Another week, another 100 billion dollars in spending...

Don't forget the interest, which will amount to as much as all the bailout money being spent. And don't forget the 2nd and 3rd stimulus (spending) package that will surely follow the first one.

The Dumbocrats are destroying America and quickly moving us into a Socialist country. Our grandchildren's grandchildren will still be paying for this crazy mess.