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Why should we who are responsible and live within our means bailout those who committed (well, not really) to a home they couldn't afford? Now, WE must foot the bill for these losers?
I bought a house I could afford, pay my mortgage on time, yet these irresponsible losers (who pretty much caused this meltdown) get to walk away with money in their pockets?
If they didn't pay before, why would they start paying now?
Obviously, you did not even take the time to listen to what he and his colleagues said.
I bought a house I could afford, pay my mortgage on time, yet these irresponsible losers (who pretty muched caused this meltdown) get to walk away with money in their pockets?
If they didn't pay before, why would they start paying now?
Obviously, you did not even take the time to listen to what he and his colleagues said.
It sounds like you are lucky enough to live in an area where your house has retained its value as have the houses in your immediate neighborhood.
Much of the assistance is going towards helping people re-finance their existing mortgages - these are people who live in areas where their houses, through no fault of their own, have lost value and are now worth less than paid for. Most of these folks ARE paying their mortgages regularly and simply want to lock in the new low interest rates.
Should they be penalized because lenders don't want to part with their share of the TARP funds?
Why should we who are responsible and live within our means bailout those who committed (well, not really) to a home they couldn't afford? Now, WE must foot the bill for these losers?
It sounds like you are lucky enough to live in an area where your house has retained its value as have the houses in your immediate neighborhood.
No, I'm not and no it hasn't.
Quote:
Much of the assistance is going towards helping people re-finance their existing mortgages - these are people who live in areas where their houses, through no fault of their own, have lost value and are now worth less than paid for. Most of these folks ARE paying their mortgages regularly and simply want to lock in the new low interest rates.
Should they be penalized because lenders don't want to part with their share of the TARP funds?
Most of the assistance is going to people who could not afford the home they are in and should not have been able to obtain a mortgage with no money down, no credit and no job.
All those obama supporter making less than $40K a year who bought a $200K home.
And now they are entitled to get bailed out.
Why would we reward such poor, irresponsible behavior?
Most of the assistance is going to people who could not afford the home they are in and should not have been able to obtain a mortgage with no money down, no credit and no job.
All those obama supporter making less than $40K a year who bought a $200K home.
And now they are entitled to get bailed out.
Why would we reward such poor, irresponsible behavior?
"Obama continued, assuring his audience “… it will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell. It will not help dishonest lenders who acted irresponsibility, distorting the facts and dismissing the fine print at the expense of buyers who didn’t know better. And it will not reward folks who bought homes they knew from the beginning they would never be able to afford.”"
I, too, have a problem with this, as someone who has only ever had 30 year fixed mortgages, and has never missed a payment. However, if more people can stay in their homes, values will say higher, and that is good for every homeowner, including me. So, would you cut off your nose to spite your face?
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