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Obama Plan Seeks to Save Millions From Foreclosure: Do you want your tax dollars pay for other people's mortgages?

SenorBabyMan 2009/02/18 18:01:26
Yes. I approve Obama's $75 Billion Mortgage plan, horray for taxes!
No. Obama's $75 Billion Mortgage plan will worsen the economy.
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President Barack Obama says he wants aid for 9 million home owners. He has unveiled a $75 Billion plan to save families from losing their homes. President Obama believes that his Mortgage relief plan will prevent "the worst consequences of this crisis from wreaking even greater havoc on the economy." Are my tax dollars going to pay for other people's mortgages? This is getting ridiculous. I think the nation is in a lot of financial trouble with his failed economic policies and this idiot is turning us into France.
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  • betz 2009/02/18 18:43:56
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    betz
    +9
    Quite honestly, people bought houses beyond their means. I know people who have good jobs but live in houses that are simply for show. They have payments of close to $2,500.00 per month. I hope they have saved and saved and saved. I was taught to buy within my means and have a nest egg to fall back on-and that's precisely what we have done. While my heart does ache for these people my tax dollars should not be used to bail them out.

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  • bama 2009/02/18 20:02:40
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    bama
    +4
    Absolutely NOT!!! They can do what any person worth their salt would do - be responsible for your own debts!
  • Psyniper 2009/02/18 19:58:40
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Psyniper
    +1
    Let me get this straight...people who could never have afforded the mortgages they were given in the first place get a bailout to stay in their homes while people who have been paying their mortgages have seen their house values drop because of the aforementioned
    people's bad behavior, and owe more than their homes are worth. And these people get no bailout....

    So if the people who now have a bad investment walk away from that investment, where are these so called "banks" getting the money to help the people that congress forced the banks to help in the first place by granting loans to them when in some cases they had no Income, no job, or no assets in the first place?

    It sounds destined to fail. But since the government is now the defacto owner (shareholder) of most banks in America, they will own these mortgages also... couple that with government healthcare...and welcome America to your brand new socialist society. Sounds great doesn't it? The framers are weeping right now.
  • Spanky 2009/02/18 19:46:03
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Spanky
    +1
    Absolutely not.
  • Kingair315 2009/02/18 19:42:38
    Yes. I approve Obama's $75 Billion Mortgage plan, horray for taxes!
    Kingair315
    +1
    The money was already allocated in the first TARP program. They only gave the banks half, if they do not do this, what do they waste the rest of the money upon?
  • Kelly 2009/02/18 19:41:44
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Kelly
    +6
    Why should I pay for someone elses mistake???
  • Lowider 2009/02/18 19:41:31
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Lowider
    I think the government should buy up all the negitive loans and re-submit them with a low intrest rate back to stimulate the economy. Do not give it to banks who will use half to pay high salaries and fringes.
  • Sheila 2009/02/18 19:34:05
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Sheila
    +1
    The point is not that I'm not a nice person, it is that I don't feel that it is my responsibility to pay someone elses mortgage. I rent because I can't afford to buy. It isn't killing me. No one told me as a child that I had the RIGHT to a house. I was told save up and one day you will be able to afford a house. I did own a house and due to a divorce it was forclosed. As mad as I was it never occured to me to ask SOMEONE ELSE to pay for it for me. I sucked it up, moved, and started saving again. IF YOU CAN"T AFFORD YOUR MORTGAGE< QUIT WHINING AND MOVE OUT!!!!
  • Kingair315 Sheila 2009/02/18 19:46:27
    Kingair315
    +3
    You will not be paying someones mortgage. Only those who can pay their own will get help. It is basically to LOWER the interest rate on all those subprime ones. If the interest is not lowered, we will have many more foreclosures, and then we will be paying the BANKS for the money they lose. They would have to sell them for much less than the original loan, in AZ that means 40 or more % less. If Interest is lowered on these variable rate mortgages, those who bought them, will pay for their own home.
  • coffee man Kingair315 2009/02/18 20:31:56
    coffee man
    .........? Did you just bring reality into this conversation? I see so little of that on this site.
  • Don Sheila 2009/02/18 21:43:38
    Don
    +2
    FYI...I could afford my house when It was bought.After expences,we had around 500 to 1000 left.We saved alot,T.G.It helped in the beginning of the crash.Then job got tighter on hrs.Income went down.Some how,no one knows how at the bank,it went UP from 1500 to 2000 a month in 3 months after the crash.Then,the next year I was laid off.My Fault too.So,I bought a home I could afford and markets crashed,my fault.I lost almost 100k in 2.5 years,My fault.I went thru savings,my fault.My job is 100% market related.When the markes went further down,9 out of 10 people were laid off again.My Fault.As a local truck driver,9 out of 10 drivers were sent home.My Fault again.If I was working full time,5 days a week,not on uni. which ends in a week,I CAN pay.I can afford it.I call every trking co. daily,I just want to work,pay my own way.Not collect "WEL-FARE" like I have done for over 30 years.So get off your high polutant horse.Not Every one out there is in this due to being ignorant on buying a house.I could afford one while renting,but never thought about it till I was horrassed DAILY by the lenders.And yes,we did put money down.Now with a house worth 110k,was 210K in loan costs,late fees,etc.Its My fault that I can't find work picking up trash?When the Democrats under Barny Franks and others ...''''
    FYI...I could afford my house when It was bought.After expences,we had around 500 to 1000 left.We saved alot,T.G.It helped in the beginning of the crash.Then job got tighter on hrs.Income went down.Some how,no one knows how at the bank,it went UP from 1500 to 2000 a month in 3 months after the crash.Then,the next year I was laid off.My Fault too.So,I bought a home I could afford and markets crashed,my fault.I lost almost 100k in 2.5 years,My fault.I went thru savings,my fault.My job is 100% market related.When the markes went further down,9 out of 10 people were laid off again.My Fault.As a local truck driver,9 out of 10 drivers were sent home.My Fault again.If I was working full time,5 days a week,not on uni. which ends in a week,I CAN pay.I can afford it.I call every trking co. daily,I just want to work,pay my own way.Not collect "WEL-FARE" like I have done for over 30 years.So get off your high polutant horse.Not Every one out there is in this due to being ignorant on buying a house.I could afford one while renting,but never thought about it till I was horrassed DAILY by the lenders.And yes,we did put money down.Now with a house worth 110k,was 210K in loan costs,late fees,etc.Its My fault that I can't find work picking up trash?When the Democrats under Barny Franks and others started this mess?I hope you NEVER fall into this mess.I wouldn't wish it on my worst enemy!!!I am right now,over 6 months current even on unemployment!Every month I fear not being able to cover my bills,but some how we do.I only have 2 loans,a 05 car and this house.I have sold everything I don't need and don't run the heat.We walk around in jackets,I have Oil,I by just enough to run the hot water for showers.I live in the North East,NH to be exact.My wife has MS,diabeties,H.blood pressure,2 heart attacts,and an autistic daughter.So be careful of the people you insult.I don't want and never asked for wel-fare.
    (more)
  • Sheila Don 2009/02/19 19:52:54 (edited)
    Sheila
    YA KNOW DON, I WAS NOT INSULTING ANYONE. i WAS STATING MY OPINION WHICH UNLESS i'M MISTAKEN IS THE POINT TO THIS WEBSITE. I AM TRULY SORRY FOR YOUR SITUATION, HOWEVER IT REALLY IS NOT MY PROBLEM. I STAND BY EVERY THING I POSTED. I WILL HOWEVER KEEP YOU AND YOUR FAMILY IN MY PRAYERS.
  • Iamfree 2009/02/18 19:31:51
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    Iamfree
    +4
    Of course I don't want my tax dollars used in this way. I neither wanted nor asked for my neighbors (i.e., taxpayers) to bail me out when I got in mortgage trouble many years ago. This is obscene.
  • Dennis C Latham 2009/02/18 19:25:17 (edited)
    Yes. I approve Obama's $75 Billion Mortgage plan, horray for taxes!
    Dennis C Latham
    +3
    It's better than paying for the taxes of corrupt police officers who kill, shoot and tazer innocent people to death and get away with it and then laugh in my face about it.

    I'd rather follow a president who has a major plan than to follow an idiot into a war started on lies of mass destruction weapons
  • Moderat... Dennis ... 2009/02/18 19:35:10
  • Dennis ... Moderat... 2009/02/18 19:44:05 (edited)
    Dennis C Latham
    +3
    matter of fact ?
    It's better to pay taxes on helping someone I don't know to have a roof over their head than to pay for some candy butt to have an orgy and a massage with my money like AIG !!!!!

    AMERICA was founded on GOD
    You idiots who don't want to help the masses ?
    Kiss my fist !!!!!!!
    it's waiting on you ....
    you don't want to help all ????
    Then take your pick and choose candy butt to hell with the aig and wallstreet execs.

    fannie mae - what kind of name is that any way ....
    sounds like some old slave name as a joke
    jeeze

    those who said President Obama was in the pockets of fannie may and bernie frank ?
    you can pull the foot out your mouth now. and you can pull your head out of your butt too

    what a sorry sight:
    head in butt
    foot in mouth
    ha ha ha ha
    I don't care who you are
    now that was funny
    GET R DUN !!!
  • Don 2009/02/18 19:13:12
    Yes. I approve Obama's $75 Billion Mortgage plan, horray for taxes!
    Don
    +4
    This has mixed answers to this question.I am one of the millions that got burned.On all levels of this issue.I haven't lost my home(YET) and hope not to.I have done everything to date to keep paying the bills,but I am almost out of rope.I work as much as I can,try to live within my means.Bought a home I could afford 'before' the housing crash.Was
    $100 more than what I was paying for rent.Escrows included.But in 3 months of purchase,the housing fell,we lost in 2.5 years 90K.My house is est. at 110k,Loan was 190,but we fell behind,talked with the bank and now with late fees 210K.We have been current for 6 months or so,but fear of failure again in near.I am not a leach,but when you are losing your grip,you reach out for help.I have personal pride,work hard,do the right things and you will be rewarded.I have done this for over 30 years,so why am I being drug down,beaten up and so on?
    I am not frugal,like some,but some times good people need help too.
    Good swimmers sometimes get into trouble.I agree on the frugal people,but not the ones that do try,do make an effort.Don't live outside their means.Just like wel-fare.Only the real needy should get it,not the frugal baby makers,etc...
  • Dennis ... Don 2009/02/18 19:29:53
    Dennis C Latham
    +3
    WOW
    I feel your pain man .. and for this .... I'm going to seriously add you on my prayer list.
    You are totally sincere and truthful. or have me fooled ... and you can fool GOD but not me.

    um ... that's a ray charles joke ....
    but you are seriously in my prayers dude !!!
  • Don Dennis ... 2009/02/18 19:35:58
    Don
    +1
    It is true,But not only I need a prayer...There are millions that are worse than I.
    I thank you and will do the same for those who need it as well.TKS!!!
  • Don Dennis ... 2009/02/18 20:39:59
    Don
    I will say this,I made a mistake.Until they called,I had not thought about buying a home.I learned from it,and I plan to work thru it.I just hope to get back to full time work real soon.If not,I will loose the Home.No way out unless I get off Unemployment now.I make 1/3 of my pay check when I do work full time.So I feel the pain of others and those that lost everything...Do I like this budget bill,No.But do we need it,I think so.But as for the BIG bill,Not so sure...
  • Dennis ... Don 2009/02/19 00:03:30
    Dennis C Latham
    +2
    I'm still going to be praying for ya Don !!!!
    3 Times a day
  • Don Dennis ... 2009/02/19 01:13:00
    Don
    TKS.From my whole Family to yours.You can't fool God thou.
    He has a double edged sword.
  • Dennis ... Don 2009/02/19 02:04:43
    Dennis C Latham
    +1
    Oh Yeah ...
    your going to keep your house ....
    and if you think about loosing it ?
    don't worry ... GOD'S going to give you another one twice that size if you keep your mind stayed on him ...
  • Don Dennis ... 2009/02/19 02:16:20
    Don
    TKS.If I new then what I know today,you know the answer.
    May God(the one that you choose to see) keep you safe and this country safe.Bless God America,and hope he Blesses America!!!
  • Dennis ... Don 2009/02/19 02:18:23
    Dennis C Latham
    GOD BLESS AMERICA
    HE will .... AMERICA is changing for the better .....
  • very Conservative "me" 2009/02/18 19:12:46 (edited)
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    very Conservative "me"
    +3
    I can't afford to own a home, so I don't own one. I can't afford one for myself so WTF makes anyone think I want to pay for someone else's???
  • Dennis ... very Co... 2009/02/18 19:31:06
    Dennis C Latham
    +2
    it's a part of the over all plan to help AMERICA
    if you don't have any kids in school or any intentions to go to school ever in life.

    You think you should be excluded from paying taxes on school reform ?
  • Sheila Dennis ... 2009/02/18 19:39:07
    Sheila
    +2
    how in the heck is this helping america??
  • Dennis ... Sheila 2009/02/19 00:04:45
    Dennis C Latham
    +2
    It's helping AMERICA as a hole .. not just a part.
    Schools, health, homes, jobs, auto industry, everything all at one time.
  • Sheila Dennis ... 2009/02/19 20:00:38
    Sheila
    WELL DENNIS YOU ARE ABSOLUTELY CORRECT. ONLY BECAUSE YOU SAID HOLE, NOT WHOLE THOUGH. AND THAT'S WHAT THIS BILL WILL DO. PUT AMERICA IN A HOLE.
  • Dennis ... Sheila 2009/02/19 20:03:37
    Dennis C Latham
    well I meant whole .... ... this is to bring AMERICA together ......
  • very Co... Dennis ... 2009/02/18 23:42:18
    very Conservative "me"
    +1
    I think between the lottery and state taxes to schools there is more tax collected for schools that isn't used there than any other of the taxed programs. That is everybody's gripe. The taxes don't go where they should and they won't now. In about 6 months it's going to start leaking what this money was really spent on.
  • hot4teacher 2009/02/18 19:02:35
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    hot4teacher
    +4
    What does it matter I hear bus loads of homeless voted for the bum, so they won't be effected, once again the only ones effected are the ones breaking their asses to make it. If I could only get a mortgage for $13.00. As Tiny Tim said " God bless us, everyone".
  • Dennis ... hot4tea... 2009/02/18 19:33:04
    Dennis C Latham
    +2
    maybe those bums are part of the past 40 years of corrupt government.
    AMERICA is about helping each other.
    seems like you want to pick and choose.
    that's a little racy if not a lot racy
    picking and choosing when everyone is in bad shape.
  • betz 2009/02/18 18:43:56
    No. Obama's $75 Billion Mortgage plan will worsen the economy.
    betz
    +9
    Quite honestly, people bought houses beyond their means. I know people who have good jobs but live in houses that are simply for show. They have payments of close to $2,500.00 per month. I hope they have saved and saved and saved. I was taught to buy within my means and have a nest egg to fall back on-and that's precisely what we have done. While my heart does ache for these people my tax dollars should not be used to bail them out.
  • Dennis ... betz 2009/02/18 19:35:00
    Dennis C Latham
    +1
    what about your tax dollars paying for an officer of the law who shot one of your loved ones in cold blood and they didn't even have a gun in their hand ?
    would you want your taxes back from that officer ?
    would you want you taxes back from that city ?

    what would you want if that happened to you ?
  • betz Dennis ... 2009/02/18 22:09:41
    betz
    Whoa let's compare apples to apples. Good heavens. I am certainly hoping when an officer of the law shoots someone they have just cause. This has nothing to do with people hoping to be bailed out when they did not use their heads in the first place. Quite frankly I'm still trying to figure out your response.
  • Sandy betz 2009/02/19 05:03:34
    Sandy
    This is great... but there are thousands upon thousands who didn't...who have lost their jobs... or been told they are getting a pay cut (like my son).... so who is to judge?...
  • betz Sandy 2009/02/19 10:38:13
    betz
    I heard on Larry King last night that he is going to make an attempt to help those who lost their jobs and therefore he's going to help those people. Who is going to decide who gets the help? There isn't enough money to help them all. Consequently there are going to be a rather large number of people who are going to be mad as heck and in my opinion this whole thing is going to turn into one BIG mess. I'll say it again......people need to save. They needed to go without and have a cash flow that would cover their need for the future just in case something unexpected happened.
  • Sandy betz 2009/02/19 17:12:05
    Sandy
    +1
    I totally agree... we must live within our means.. and below... we need to simplify...simplify....
  • bob pet... betz 2009/02/19 21:55:50 (edited)
    bob petrolito
    Then we should stop spending money on anyone who can't get by on their own? No more welfare. Not the way to go about it. Some homeowners are responsible people. Maybe they had an income loss. Maybe the mortgage that is going adjustable is going to make things tough. What's wrong woth helping these people? Nothing. Everyone needs help at some point. We just need to weed out the ones who are cheating the system and taking money unnecessarily. Help only to the point where they can sustain themselves then shut off the funds.

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