McCain Seeks Aid for Some Homeowners

AP ^ | 4/10.08 | Libby Quaid

[pissant]

NEW YORK (AP) — Republican Sen. John McCain called for federal aid for well-meaning homeowners who can't pay their mortgages, an attempt to fend off criticism that he has been indifferent to the housing crisis and the market upheaval it has spawned.

The likely GOP presidential nominee sketched out a plan Thursday to help 200,000 to 400,000 homeowners trade burdensome mortgages for manageable loans in a speech in Brooklyn, N.Y. Aides said the plan could cost from $3 billion to $10 billion.

Still missing were details on exactly who would be eligible for help; McCain said he wants to aid those who borrowed sensibly but now can't handle their mortgages.

"There is nothing more important than keeping alive the American dream to own your home," McCain said in a speech before joining in a round-table discussion at a Brooklyn company, Windows We Are Inc.

"And priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes," the four-term Arizona senator said.

The Bush administration and both parties in Congress also are proposing varying degrees of federal help for burdened homeowners. McCain's plan falls in the middle; he would help at least twice as many homeowners as Bush and fewer than half as many as congressional Democrats.

[pissant]

FWIW

[goldstategop]

Just give them free housing, John. Why another loan? That makes no sense whatsoever.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Calpernia]

Must be lonely being a centrist. Neither base wants you.

[BGHater]

Just following the GOP plan, started by Pres. Bush.

[goldstategop]

John pandering to the Left. The way to show the MSM loves you is to promote expanding big government than stick to the constitutional principle of limited government. Abandoning conservatism for the sake of votes may win McCain the moderates and independents but he's lost those of the base. Its yet another event that dampens my enthusiasm for his candidacy.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[pissant]

On th econtrary, the GOP - minus a large swath of conservatives, is completely behind McCain. The base of the party is not very conservative. If they were, Rudy McRomney would not have sucked all the money up during the campaign.

[MrB]

Hey, check it out!

More subsidies for bad decisions!

While us chumps that make good decisions pay for it!

Quintessential liberalism.

[bill1952]

sketched out a plan Thursday to help 200,000 to 400,000 homeowners trade burdensome mortgages for manageable loans in a speech in Brooklyn, N.Y. Aides said the plan could cost from $3 billion to $10 billion.

Now adults have no responsibility for their own financial decisions and the taxpayers will cover their ... mistakes??

[TheThirdRuffian]

Not sure when idiots buy too much house (or too much anything) on stupid terms became the responsibility of the OTHER taxpayers who chose to live within their means.

I mean, I chose to live somewhere cheap, and get a 15 year mortgage (that I paid in 7.5 years).

Their idiocy is not my problem.

[CottonBall]

McCain said he wants to aid those who borrowed sensibly but now can't handle their mortgages.

If they borrowed sensibly in the first place, they'd have no problems affording their mortgages (except in the event of a job loss, of course). Does McAmnesty really think the government will be able to discern between those that borrowed sensibly and those that were irresponsible? Well, he's a lib - and he's saying things that prove it. He's not even bothering to wait until the election is over. He really doesn't care about us conservatives or conservative principles and isn't even trying to pretend.

[Calpernia]

Rudy did a lot of sucking in Kazakhstan.

Romney had monies coming in from Bain donations that also have offices in China.

When money is coming in, always consider what the source is before lending legitamit support.

[CottonBall]

the GOP - minus a large swath of conservatives, is completely behind McCain. The base of the party is not very conservative.

Then it's time for a conservative 3rd party. There are millions of conservatives out there with no place to go.

[goldstategop]

If I can pay off my mortgage, why I can't I bill John Q Taxpayer for it? Why it should be limited to a select group of homeowners who can't? Its unfair to those who do responsibly pay their mortgages and don't default on their homes.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[pissant]

Apparently twice as generous....with our money.

[pissant]

See my tagline

[Calpernia]

>>>Abandoning conservatism for the sake of votes may win McCain the moderates and independents but he’s lost those of the base.

I don’t know. MoveOn is campaigning against him.

I don’t think you can get the bird off the ground with just moderates. You need at least a left or right base also.

[isrul]

Hey, if they're well meaning and deemed deserving, they'll get taken care of.I guess.

[KentTrappedInLiberalSeattle]

Remember when this was at least a marginally conservative party; even if only in comparison to the 'Rats...?

Reagan is spinning so violently in his grave right about now, he's scant seconds away from striking oil.

[pissant]

They also got scads of individual donations and thousands of volunteers, while Tanc and Hunter scrambled to get on the radar.

[MrB]

If the dhimmirat convention plays out correctly, you could see this scenario -

the end of the dhimmirats as a viable political entity,
the GOP being the center/left party,
some 3rd to become 2nd party flanking them on the right.

[CottonBall]

Their idiocy is not my problem.

Big government is trying to make it your/our problem. We get to buy smaller houses that we can afford, yet get to subsidize others that spent beyong their means. Just like I only had as many children as I could afford, have money ready for their college - yet I see thousands of students here getting grants and other free handouts because their parents were irresponsible. It's like we're being punished for doing the right thing.

[Abbeville Conservative]

Is this type of legislation even constitutional? It ought to be challenged because it certainly isn’t fair to those of us who borrowed within our means. The SCOTUS needs to hear this one.

[goldstategop]

John McCain is the J.R Ewing of politics. He knows a good deal for himself when he sees one. Philosophy be damned.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Calpernia]

Rudy was paying people here in my state. Matter of fact, I think Hunter, Tancredo and Paul were the only ones I met that had volunteers. Thompson, Romney, even Huckabee people were paid workers. Maybe that was just the ones I met though.

[CottonBall]

I’ll check it out. I haven’t heard of that party before!

[Cementjungle]

I’m willing to bet there’s a group of people who could keep paying their mortgages if they didn’t have huge credit card debt. I wonder how we would deal with that group.. should the taxpayers pay down their mortgages to an affordable level for them?

[Calpernia]

The decline started in 1997 with the Christian Coalition being sued for values.

http://www.freerepublic.com/focus/f-chat/1829933/posts?page=28#28

Say, thank you Jim Nicholson.

[CottonBall]

I like this article from its website “The Death of the GOP and the Birth of a New Political Party”.

I’ve been saying the only good thing I can see coming from the McCain nomination would be if the GOP implodes and a conservative party rises from the ashes. Perhaps we are there.

[NormsRevenge]

What a compassionate conservative, the GoP sure picked themselves a real wiener this go-around.. well, the few that actually had a chance to cast a vote anyway..

[CottonBall]

I’m willing to bet there’s a group of people who could keep paying their mortgages if they didn’t have huge credit card debt. I wonder how we would deal with that group.. should the taxpayers pay down their mortgages to an affordable level for them?

That's why McCain's statement is so absurd. There's no way to tell if someone was being 'sensible' in getting their mortgage. I don't trust libs (the current government) to be capable of understanding sound financial principles or to be able to judge them.

So many of our neighbors refinanced when houses skyrocketed up - you'd be amazed at the numbers of large RVs, boats, new cars, and other toys that showed up in the neighborhood. People put in $50,000 pools with 2 or 3 rock waterfalls, put granite on all their counters, and other upgrades. We sat tight, knowing full well that housing prices were bound to fall eventually. Now, all these people can get government assistance with their new loans AND get to keep all their toys? That's teaching them to be more responsible! /s (It's teaching us that we were foolish to be one of the few to be, actually)

[dragnet2]

McCain Seeks Aid for Some Homeowners

Give it to the illegal aliens that BofA and Wells Fargo lent money to. After all Mr. McCain, they all work hard and obey the rules.

[gunservative]

John McCain should give these idiots who won't pay their mortgages the classified section of a newspaper, particularly Apartments For Rent.

[MrB]

At some point, the responsible people of this country need to shout “ENOUGH” and demand that the irresponsible simply experience the consequences of their stupidity and NOT be bailed out at our expense.

[pissant]

Brand spanking new. We are going to be aggressive in our recruiting.

[cdga5for4]

Oh, you are punished for saving. There’s no doubt about it.

[KentTrappedInLiberalSeattle]

[TheThirdRuffian]

I am thinking a sub-party within the Republican party would be more effective — then breaking off.

[cdga5for4]

No, the taxpayers will pay down their credit cards. Just wait.

[TheThirdRuffian]

It reminds me of how I used to read the “Little Red Hen” to my daughter. (you know, she grows, harvests, makes, and bakes the bread).

I would re-write it with Dimocrats coming in and taking the food away from the Little Red Hen because she was “greedy.”

[TheThirdRuffian]

No, they and the banks who lent them money should go to Hell.

I don’t care.

[Calpernia]

THE Conservative party: www.falconparty.com

[TheThirdRuffian]

Yeah, I admit to be a late-joiner of any party.

Too many times, wackos take control of start-up parties.

I am also a believer in free trade (as long it is mutual -— and NOT open borders). Too many “conservative” parties are protectionist or isolationist (generally at the expense of Israel).

[wolfcreek]

Not good Johnny.

Although there were people who were stupid enough to get into mortgages they couldn't afford, there might be just as many who are guilty of speculation, using their life savings to buy homes and condos and turning them (and a profit) before the mortgages came do.

These folks are gamblers who luck ran out. They shouldn't be rewarded.

[Red_Devil 232]

Hmmmmmmm ... well-meaning homeowners?

I wounder how many lawyers and Congress Critters and hearings and my tax dollars it will take to for the Government Printing Office to print out a 10 vol. definition of a well-meaning homeowner?

[Bommer]

Just give them free housing, John. Why another loan? That makes no sense whatsoever.

It John McCain. When has this jerk off made sense? While you're at it Johnny-Boy, start paying off dead beat credit cards and student loan debts! Hell, personal responsibility is sooooo 20th Century anyways! Pop a teet Uncle Sam and let the morons suckle off your abundant theivery of our tax dollars!

[samadams2000]

Thats great!!

[Jacquerie]

Then it's time for a conservative 3rd party. There are millions of conservatives out there with no place to go.

Jeez. Ever hear of Google? Try: http://www.americanconservativeparty.org

[OeOeO]

The mortgage shenanigans are worse than Enron.I read about some of the loans BANKS handed out. When are we going to see people jailed over this.

Bailing out a lot of these people will see them defaulting again down the road. If they were suckered in by these loans, one day they'll trade the house for some magic beans.

[bert]

I don’t see how this is a bailout. I would think bankers would consider it a work out.

There will be new loan with a 30 year term and an FHA guaantee. There will be some taxpayer funds involved only if the workout doesn’t wotk out.

It is pretty much normal banking in my view. Banks commonly try to work out problem loans rather than call them in.

There will undoubtedly be some that won’t even qualify to begin the process because the borrower is too far in over his head.

This strikes me as similar to the program proposed by W weeks ago.

[Norman Bates]

The McCain List.
Common sense conservatism