Obama to unveil $75B mortgage relief plan (Why didnt I buy a bigger house??)

MSNBC ^ | 2/18/09 | AP

[Gabrial]

“IF you have equity in your home...NO help for you”

sarc was “on” in my previous post...

0bama is rewarding bad behavior. Noyhing good will come of this.

[KC Burke]

Thanks for the detailed examination.

I still do not see this as a broad miracle worker as the press will frame it even if it is not limited to Fannie/Freddie for verge of foreclosure category.

[sickoflibs]

Obama: “We all are victims. We all have to pay. The poor pay by having less than you. You pay by having your money taxed for the poor’s tax credits,”

We should all call and demand our mortgage get reduced and a government job. Lets all jump in the wagon.

[Zeppelin]

And I wasn’t picking on you personally. I have a real problem though with people who quit making their house payments just because the house has lost value.

I feel ya...and by that logic, what's the point in paying off student loans once you've graduated???

[mojitojoe]

If this asshat president thinks he’s going to keep people in their homes who never could afford it with my tax money, he can go to hell!
_______________
He's going to hell, that's a given. What is also a given is that he and his beard (michelle) are doing exactly what they have said for the past 12-20 years. Redistributing the wealth, reparations for the poor blacks that were enslaved way back then. The are nothing more than Black Panther living in the WH. Or should I say, visiting the White House once in a while between their Air Force one trips.

[csmusaret]

Good point. That will be the second argument in my arsenal.

[sickoflibs]

Obama :"We are all in this together"

[April Lexington]

Why didnt I buy a bigger house with a subprime mortgage? Why did I put a down payment down? “All of us are paying a price for this home mortgage crisis,” Obama said in remarks prepared for delivery at a ceremony announcing the program at a Phoenix area high school.

To clueless president: We are all paying a price for the devastation in 401(k) values, too. Maybe we should chip in and restore the value of all poor people's 401(k) plans so they don't feel bad? /sac/

This idiot who is falsely occupying the White House is every bit the communist that we think he is.

[angcat]

I like the addition idea. mmmmmmmmm

[April Lexington]

Obama :"We are all in this together"

Yeah.... we're in this thing from the PAYING side...

[April Lexington]

He's going to hell, that's a given. What is also a given is that he and his beard (michelle) are doing exactly what they have said for the past 12-20 years. Redistributing the wealth, reparations for the poor blacks that were enslaved way back then. The are nothing more than Black Panther living in the WH. Or should I say, visiting the White House once in a while between their Air Force one trips.

Spot on! The black communist movement in high gear. Where, oh where, is Angela Davis in all of this? I miss her hair!

[TroutFishingInAmerica]

I think we need to ask which, at this moment, is the greater social ill: allowing people to escape the consequences of bad financial decisions, or removing them from their homes?

The housing market is undergoing a readjustment. Overvalued homes will never again be worth as much as they were in, say, 2005. Obviously, people were not expecting that when they bought in. Also, unemployment is going up, and people weren’t expecting to lose the jobs that allowed them to pay those mortgages.

Beyond the crime bred by empty houses, there’s also the fact that home ownership makes people better citizens. Home owners are more law-abiding and more likely to be involved in their communities. So, there is some good in helping people ride out this readjustment.

[acoulterfan]

Probably a dumb question, but how can the Government force these lenders to refi/restructure a loan to somebody that lost their job and there is no job for the lender in the near or far future?

[acoulterfan]

Sorry, meant how can a mortgagee afford the payments if he does not have a job!

[fivecatsandadog]

“All of us are paying a price for this home mortgage crisis,” Obama says...

Us? Correction: all of YOU are paying a price for this home mortgage circus. Obam-bam, do me and US a big favor by not including yourself with US. You are not welcome here.

Gawd, this man makes me sick.

[FarRightFanatic]

So does this mean Hussein is going to help Octomom, Nadya Suleman? Hell, she’s only *10* months behind in her mortgage payments.

http://www.tmz.com/2009/02/18/octomom-nadya-suleman-foreclosure/

[9YearLurker]

Are you by chance one of those who “bought” a house with no money down or cashed out with home equity loans during the mania—and are now thrilled to have won a jackpot paid for by your fellow Americans?

We used to have a term for people without equity in their houses, they were called renters—and like all renters they can’t stay on beyond what the actual owners agree to. There are worse things in life, and letting prices drop back to where they belong is the quickest and least nationally bankrupting way for us all to get out of this downturn.

[Ken H]

I could have had a McMansion. I could have been somebody, instead of the bum which I am!

[antivenom]

My “sarc-dar” wasn’t working

[antivenom]

They are adopting the “Cuban plan”...soon you will see 2 or more families in the same house. Probably the tax payer and 2 dead beat families....snicker....(end sarcasm)