Upcoming Foreclosures

If the federal government aides homeowners?

Whose houses are in threat of being foreclosed, should they not help everyone equally? I could have bought a house and been in a foreclosure situation but did the research and decided that an ARM mortgage is not a good thing. If they refinance these homes through Fannie and Freddie and other banks should they then be forced to offer me the same equity adjustments and low rate refinancing they offer these folks, or should only the irresponsible be rewarded? And no I am not talking about people who lost their jobs and are now in foreclosure because you know what the government would not have done anything for you normally. Obama WOn: As I said my issue is not with the people who fell on hard times, if it wasnt for this financial collapse and their homes went into foreclosure they would get ZERO help from the government...My Issue is with people who lived above their means. Or were "duped" into adjustable rate mortgages that saw their mortgage payments triple, educate yourself and read the fine print, get a good lawyer, realize that no one is going to give you something for nothing...well now they might get something for nothing! In response to your Christian Charity comment, that should be for the less fortunate, not the irresponsible!! To answer your Question Mr. Won, no I have never been in a class room where the teacher makes the whole class do something like that, the people that act out are punished individually!

Public Comments

1. I personally do not think someone who is in foreclosure should be given a break by the feds and given lower rates, etc... I work hard and work hard to pay for my house. I knew exactly what I was getting into when I bought my house and in fact am on my 3rd house and am only in my early 30's. If i mess up and loose the house because I can't make the payments then I would never look for a handout and no it's not fair for those of us who work hard to pay our debts.
2. i think it's sad and pathetic. there are some that really DO need help - sure fine but the banks are TELLING people not to pay so they can get approved for a short sale HOWEVER if you don't sell within a small window -- you get foreclosed upon. often some of them even have the money and are just told not to bother -- it's a sad state of affair.
3. We live in an ever-evolving socialism. Big brother wants to help to get him closer to control. No one should receive help! They should reap the whirlwind of their greed.
4. This issue highlights the difference between Republicans and Democrats. As a Democrat, although my own mortgage is paid up and my credit is spotless, I am willing to aid those who are not in the same situation. Part of it is Christian charity. Part of it is the belief that if someone loses their home, they become a less capable and responsible citizen, less able to contribute to the tax base, and less able to spend money on goods and services in a way we all must to make the economy grow. The very last argument anyone should make against this is the tired old "I work hard for my money and don't feel like bailing out people who don't" etc. Bad things happen to good people. Empathy. What comes around goes around. Judge not lest ye be judged. There but for the grace of God go I, etc, etc, etc. ---- I hear you, That Guy. But we cannot cut off those who really need the help because some people might abuse the offer of help. Ever been in a classroom where three people act up, and the teacher makes the entire class write an "I will behave" essay? Same thing. If we can surgically pinpoint who really needs help and who doesn't, all the better. If we can't, I think we still need to help those who seem to really need it, based on paperwork submitted to the govt. It will help the entire economy in the long run.
5. The homeowners that get help should be charged somehow. Maybe less of a tax break or more payments at the end. Or a tax when they sell their home. To Obama Won. Too many people take advantage and cheat which is another reason some houses are in foreclosure. The difference between Rep and Dem is one is a realist and the other is an idealist.
6. Ack! This situation really pisses me off. I agree with you. People should not be rewarded for their irresponsibility, and to put it quite frankly, their stupidity. People get themselves into difficult financial situations all the time. It is about taking responsibility for your mess-ups, and doing what YOU have to do to get out of it. That means - no aid. They want to send out a rebate check to most people to help stimulate the economy? Great. The people who made the mistake of trying to take the easy way out, without looking far enough ahead in the future to see the possible downfalls shouldn't be helped. They could've avoided the situation in the first place. Like you, I sympathize and understand the need to help those who are the victims of layoffs, and such. They didn't put themselves in that situation. The homeowners you are referring to, did.
7. Yeah- I do feel that they are bailing out people who just didn't pay attention- there are a to of people who buy houses, Why these people did not listen or read the morgage agreement is beyond me. I personally am one of the people who think no matter the situation " you made your bed now lye in it" I am not a bail out person- I do not think that helps anyone make better desistions in the future- Nore do I think it is fair. Some of us live within our means and do not just buy things because of a credit card or a loan, I think those people need to learn a lesson.. Personally thats my own view
8. Just wanted to say that we bought a house 3 years ago, and interest rates at that time were extremely low overall. We opted for the safe bet 30 year fixed loan, but know plenty of people who opted for ARMs. The only reason they went with an ARM loan was being overly greedy/stingy whatever you want to call it; at that time. The rates were so low; only a moron who had done no research or bothered to learn about mortgages at all would have opted for an ARM. I don't necessarily think those people should be bailed out. It's been a struggle and a half for me and my husband to pay our mortgage for the last 3 years, but we won't be getting any assistance from the government because we made a smart decision when we signed our mortgage papers.