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Don't leave us to foreclosure (A messaage to the President)
New Orleans Times Picayune ^ | 9-29-06 | Times Picayune Editorial

Posted on 01/29/2006 2:17:44 PM PST by Uncle Sham

Don't leave us to foreclosure Sunday, January 29, 2006 Here in a community full of ruined homes, it takes no imagination to predict an epidemic of foreclosures that could devastate families, cripple the recovery of greater New Orleans and strain the nation's economy. If your flood insurance payout isn't nearly enough to cover your mortgage, you wonder if you'll have to abandon your unlivable home. If you look down the block at a dozen other damaged houses and know that your neighbors are in the same bind, you understand the fear of losing your neighborhood to blight. If you travel daily past block after block of empty, flood-marked houses, you understand how large the hole in our economy could become. This explains why U.S. Rep. Richard Baker is not giving up on his proposal for a federally backed buyout of flooded-out homeowners and small business owners. He wants Congress to create a corporation that would release Hurricane Katrina's victims from their mortgages, sell bundles of property to developers and help get storm-ravaged land back into commerce.

(Excerpt) Read more at nola.com ...


TOPICS: Culture/Society; Editorial; Government; News/Current Events; US: Louisiana
KEYWORDS: baker; bush; katrina; louisiana; neworleans; rita
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To: Howlin

Most of the water damage in New Orleans was caused by failure of a drainage canal. And, drainage water isn't flood water.


141 posted on 01/29/2006 11:03:57 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: Uncle Sham
it isn't going cost you one red cent.

In a word, bullsh**. If the LA political types screw this program into the ground like they have screwed every other 'aid' program into the ground it will end up costing the US taxpayer billions.

Here's a clue for you Uncle Sham (appropriate name btw), don't build in a flood plain and then underinsure your property.

Move somewhere else. I'm sick and tired of pouring good money into the rathole that is Louisiana politics.

L

142 posted on 01/29/2006 11:05:15 PM PST by Lurker (I trust in God. Everybody else shows me their hands.)
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To: CobaltBlue

It sure LOOKED like a flood, but after all, you're the attorney...........ROFLMAO.

That's a silly thing to say.


143 posted on 01/29/2006 11:09:25 PM PST by Howlin (Why don't you just report the news, instead of what might be the news? - Donald Rumsfeld 1/25/2006)
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To: Howlin

If you (1) live on a Special Hazard Food Area; and (2) have a federally guaranteed mortgage (FHA or VA) then (3) you have NFIP flood insurance.

If you say no, you're either a liar or just plain ignorant.


144 posted on 01/29/2006 11:09:49 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: Howlin
It sure LOOKED like a flood, but after all, you're the attorney

Well, this is why I get paid the big bucks, and you get to bitch about it. ;^)

145 posted on 01/29/2006 11:10:55 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: CobaltBlue
If they have flood insurance, no problem, even if it is a federal subsidy. I thought Baker's plan was for all property owners whether they were insured or not. That was the rub for me, or if it would take insurance companies off the hook and put the taxpayer on it. Just as the flood waters, all this is still murky.
146 posted on 01/29/2006 11:11:59 PM PST by Mind-numbed Robot (Not all that needs to be done needs to be done by the government.)
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To: CobaltBlue
If you (1) live on a Special Hazard Food Area; and (2) have a federally guaranteed mortgage (FHA or VA) then (3) you have NFIP flood insurance.

I don't live on a Special Hazard Flood Area

And

I don't have a mortgage, period.

Now you can apologize for calling me a liar or ignorant.

147 posted on 01/29/2006 11:14:08 PM PST by Howlin (Why don't you just report the news, instead of what might be the news? - Donald Rumsfeld 1/25/2006)
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To: CobaltBlue
Well, this is why I get paid the big bucks

Why, for being wrong? Good to know.

148 posted on 01/29/2006 11:15:44 PM PST by Howlin (Why don't you just report the news, instead of what might be the news? - Donald Rumsfeld 1/25/2006)
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To: Mind-numbed Robot

Baker's plan is nebulous, agreed.

Nevertheless, there are several factors to consider.

~ Federally guaranteed flood insurance.
~ Federally guaranteed mortgage insurance (Fannie Mae, Freddie Mac, on FHA and VA loans, especially the new "no equity loans).
~ Federally guaranteed SBA loans.
~ Federally guaranteed student loans (this may be miniscule).
~ What will it do to the economy if 1% of the population defaults on credit cards and car loans and files Chapter 7?

We need top notch number crunchers to figure this out ASAP.


149 posted on 01/29/2006 11:15:56 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: Howlin

OK, so you live in rental property, maybe a trailer park. How nice for you.

Please go away now and let the grownups talk policy?

That's a good girl.


150 posted on 01/29/2006 11:18:08 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: CobaltBlue
OK, so you live in rental property, maybe a trailer park.

Hardly.

151 posted on 01/29/2006 11:19:29 PM PST by Howlin (Why don't you just report the news, instead of what might be the news? - Donald Rumsfeld 1/25/2006)
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To: A.Hun
Hint for the future: Don't build below sea level.

Or 2 feet above sea level!

Boynton Beach, FL. hint

152 posted on 01/29/2006 11:25:08 PM PST by RIGHT IN LAS VEGAS
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To: CobaltBlue
Seems those D@mnYankees in Vermont are a lot smarter than Gulfcoast Southerners. Their little catchphrase is, "Buy a view and inherit the wind."

Granted sitting there looking across U.S. 90 at the Gulf on a cloudless day is real relaxing. If you don't have insurance that covers the various contingencies of a hurricane, wind damage, falling water and rising water, you're no better off than someone who would live in a hole in the ground with no preparation.

Of course he used a FEMA trailer, but he got his family out of it also, at the earliest possible time. Didn't he? The federal assistance is there to be used. No-one is denigrating anyone for using what was available. The problem is the additional whining and Begging/Extortion that is off-putting.
153 posted on 01/29/2006 11:28:29 PM PST by rock58seg (It's time for Islam to actually become a religion of peace or a religion of the past.)
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To: CobaltBlue

So you're a greed driven freak using this website to justify your dishonorable existence. You aren't the first


154 posted on 01/29/2006 11:34:14 PM PST by dennisw ("What one man can do another can do" - The Edge)
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To: rock58seg
No-one is denigrating anyone for using what was available. The problem is the additional whining and Begging/Extortion that is off-putting.

I just came back from a trip to Biloxi and New Orleans.

I have family and friends in all kinds of situations. I don't know a single person who suffered no damage at all.

My family has lived in the region of the Gulf of Mexico for almost 300 years, so I hope you will give me credence when I say that this is simply unprecedented.

I've seen and experienced many a hurricane in my time, including Betsy and Camille, and my mother and her generation experienced Audrey and the unnamed hurricane of 1946. My grandparents generation, the unnamed hurricane of 1906 (28 ft. storm surge in Dauphin Island.)

Me, I learned my lesson. I live in Virginia.

Leave all that aside. You, me, and everyone we know are on the hook to save these people, feckless or not, one way or the other. No matter what you believe, it will happen.

If all you want to do is complain, feel free. Me, I want to minimize the bottom line.

155 posted on 01/29/2006 11:37:06 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: dennisw
Sorry, you're talking to the wrong person. I don't get a nickel from Katrinia, nor Rita, nor any other hurricane. All I am is (1) an American taxpayer; (2) an honest person who believes in the rule of law; (3) a realistic person who comprehends that what is, is what is, whether I like it or not.

Your mileage obviously varies.

156 posted on 01/29/2006 11:39:08 PM PST by CobaltBlue (Extremism in the defense of liberty is no vice. Moderation in the pursuit of justice is no virtue.)
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To: CobaltBlue

And I just read your latest posts. Is arrogance and Smarminess your usual demeanor?


157 posted on 01/29/2006 11:39:21 PM PST by rock58seg (It's time for Islam to actually become a religion of peace or a religion of the past.)
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To: ridesthemiles
"Stay out of my tax-payer pocket."

RIGHT ON!

158 posted on 01/29/2006 11:41:08 PM PST by endthematrix (None dare call it ISLAMOFACISM!)
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To: rock58seg; CobaltBlue; Howlin; wardaddy; WKB; bourbon

"Is arrogance and Smarminess your usual demeanor?"


Yes, it is...from my own experience.
CB is neither tolerant, nor conservative.
I don't know why she is still here.


159 posted on 01/29/2006 11:42:26 PM PST by dixiechick2000 (There ought to be one day-- just one-- when there is open season on senators. ~~ Will Rogers)
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To: CobaltBlue
the property owner is entitled to just compensation pursuant to the Fifth Amendment to the United States Constitution, at fair market value.

What's the "fair market value" of a destroyed pile of sticks and bricks on a plot of land located below sea level? It ain't what you think it is (that is the value of the home pre-Katrina).

160 posted on 01/29/2006 11:47:44 PM PST by FreedomCalls (It's the "Statue of Liberty," not the "Statue of Security.")
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