Unbelievable. Spitting in the faces of homeowners who struggle and sacrifice and find SOME WAY to pay their mortgages. This is insane. If you can't pay, you lose the house...someone else DOESN'T pay your loan for you!!!!!
To: MeneMeneTekelUpharsin
due to circumstances beyond their control, including involuntary unemployment, underemployment, economic conditions or an illness Cool.
Mr. Government Man, the economy stinks. Now where's my $50K?
To: MeneMeneTekelUpharsin
A foreclosure puts more downward pressure on real estate prices due to more houses being thrown on the market. It also puts pressure on banks to correctly value their real estate holdings, which would blow a huge hole in the assets of the institution. The concept of mark-to-market is financial suicide for American banks.
Although the verbiage indicates this is to benefit individuals who might experience foreclosure, its real purpose is to bail out the banks again. They're kicking the can down the road some more.
3 posted on
06/20/2011 4:30:22 PM PDT by
Publius
To: MeneMeneTekelUpharsin
Nanny State on steroids...............
........failure is not always a bad thing - being responsible for yourself is the first step.........
4 posted on
06/20/2011 4:32:25 PM PDT by
yoe
To: MeneMeneTekelUpharsin
So what’s another $ billion down the shithole?
Why can’t these idiots allow the housing market to find it’s clearing level, and then allow a normal market recovery??
5 posted on
06/20/2011 4:33:08 PM PDT by
Noob1999
To: MeneMeneTekelUpharsin
Infuriating. Not only is it unfair to those who have sacrificed to pay their mortgages on time, but also to those who have been waiting patiently to buy a home they could afford. This bailout is yet another way to artificially prop up home prices, instead of allowing them to fall to the level they would have been, had there not been a housing bubble. Here in California, houses are still 3 times more expensive than in other parts of the country. This ridiculous stop-gap measure will fail. I predict that most of the freeloaders who get these loans will be back underwater in two years.
6 posted on
06/20/2011 4:33:11 PM PDT by
giotto
To: MeneMeneTekelUpharsin
What incredible logic! Providing another loan to deadbeats. Most of the individuals receiving loans are not home owners. They are home occupiers, stiffing the legitimate home owners (note holders). This program is just another outrageous moral hazzard.
To: MeneMeneTekelUpharsin
WHAT IN THE GOSHDARN FARGIN FARK???????????????
9 posted on
06/20/2011 4:34:27 PM PDT by
Mr. K
(CAPSLOCK! -Unleash the fury! [Palin/Bachman 2012- unbeatable ticket])
To: MeneMeneTekelUpharsin
the Emergency Homeowner’s Loan Program (EHLP) = crack
10 posted on
06/20/2011 4:36:52 PM PDT by
cranked
To: MeneMeneTekelUpharsin
Fitty G? Daaang. Ima gonna pimp my ride and git squatter's rights in my new gub'mint howz!
To: MeneMeneTekelUpharsin
Capitalism is dead. There are no more free markets or even semi-free markets.
To: MeneMeneTekelUpharsin
Eligible homeowners can obtain interest-free loans of up to $50,000 to help cover mortgage expenses for up to two years.
Unemployment insurance on STEROIDS! Stop this nonsense.
16 posted on
06/20/2011 4:47:22 PM PDT by
Don Corleone
("Oil the gun..eat the cannoli. Take it to the Mattress.")
To: MeneMeneTekelUpharsin
Unflippin’ believable. Boy were my husband and I chumps for never buying a house we couldn’t afford, taking out a second for toys and doubling down on our mortgage payments.
17 posted on
06/20/2011 4:50:19 PM PDT by
ladyvet
( I would rather have Incitatus then the asses that are in congress today.)
To: MeneMeneTekelUpharsin
A number of my California buddies have found that they entitled to a number of government benefits not available a few years ago. Several have found they now qualify as “disabled” (arthritis, mild depression, you name it). They are willing to spend the rest of their years living in a dumpy apartment collecting their monthly checks and calling themselves “retired”.
18 posted on
06/20/2011 4:51:53 PM PDT by
Huskrrrr
To: MeneMeneTekelUpharsin
Now the homes are $50k MORE under water. It also puts another lien on the property.
20 posted on
06/20/2011 5:03:37 PM PDT by
Terry Mross
(I'll only vote for a SECOND party.)
To: MeneMeneTekelUpharsin
They should do a social experiment that we all can follow...
1. How many people will get this entitlement.
2. How much is given to each person.
3. What are the circumstances for why they get it.
4. On this group of people - let’s see them get the
so-called “JOBS, JOBS, JOBS”.
5. Check back with them in one year and if no results
6. Cancel program...
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