Housing Rescue Plan: For Some or For All?
Vague reports about the Obama administration’s plan in the works to help people in danger of losing their houses are starting to surface. Whether it ends up with the government subsidizing monthly payments or modifying the loans themselves, the big question, it seems to us, is whether the ultimate solution should address only those in…
Vague reports about the Obama administration’s plan in the works to help people in danger of losing their houses are starting to surface. Whether it ends up with the government subsidizing monthly payments or modifying the loans themselves, the big question, it seems to us, is whether the ultimate solution should address only those in immediate trouble or be an across-the-board relief measure. On the one hand, even if you’ve been playing by the rules and aren’t directly benefiting from a homeowner bailout, it’s still in the interest of your own property value to see fewer foreclosures and empty houses in your neighborhood; on the other hand, why should only the irresponsible and the unlucky get hand-outs? Tough stuff.
“You BRG, Bxgrl and Rob aka Putbull are all losers!!!!!!”
Pot=Kettle
Hey What have a Crow….
I see people everyday at my job who are seeking help paying rent and help with their mortgages. Right now there isn’t much we can do for either. It sounds good to say that these people were irresponsible but the fact of the matter is that this is not the case with most of our clients. These are not people who were living above their means with high credit card debt. They are people who had good credit at one point but lost their jobs due to lay-offs or illness. Many have secured employment elsewhere but not at the same salary level so they are finding it hard to make ends meet. I wouldn’t complain if my tax dollars went to helping the “unlucky” as Mr B. called them. It would help all of us in the long run.
“Put down the crackpipe what, i think youre confusing me with someone else.”
Oh no Retard I have the right one baby! Ya see I wanted to tear you a new one for a long time. You are a Man-Child and you post your personal life on a God Damn blog instead of looking for work! You BRG, Bxgrl and Rob aka Putbull are all losers!!!!!!
Now back to the topic! This has Fail written all over it and it’s only a matter of time before this whole thing crashes!!!!
The What (Hey Rob have a skittle..)
Someday this war is gonna end…
Putting the relative merits of subsidizing mortgages to the side for the moment, this is an amazing indicator of how bad the economy really is.
No one has a good solution how to fix the housing mess. If you let it die a “natural” death as some would like, then you put the possibility of a total market collapse back on the table.
If you artificially prop up the market, then you end up spending unheard of amounts of money with no clear end to the hemorrhage in sight.
That something like having the government step in to help pay mortgages is even on the table, even if it never happens, shows just what a god-awful mess this thing is. And that might be giving god-awful messes a bad name.
not me i want these homes to come to market, I am ready to pounce and buy ..
sorry pitbull, thought you were referring to me with the crackpipe comment. I do agree that subsidizing education and irresponsible home buying are two different things, but I think we can all agree buying frivolous video games versus paying student loans is a bit hypocritical
as long as there is no principal reduction, I am ok with govt subsidizing monthly payments for a limited time period for primary homes, for purely selfish reasons – my own property values.
Really, you didn’t post this yesterday?
“i made a super stupid decision last weekend and went to gamestop and bought a bunch of video games instead of paying back a student loan that is 7 months behind. what does that say about me? about consumers in general? i didnt even play any of those video games. there is something wrong with a lot of people, me included. but i have this general feeling that i dont have to pay back my student loans. why is that? i graduated in 2000. it’s now 2009. i think i’ve paid a total of like 300 dollars towards the 27,000 dollars i have out in loans. the private perkins loan people are MAD annoying and keep messing with my credit report, but the government loan people are fine everytime i call and ask to forbear and just tell them i cant afford it. meh, lots of interest i guess (tho the government one is low). i dont know how to get the private perkins loans people off my butt. (they call my job and harrass me!) the worst part is that i didnt pay that private one for over 7 years and it was written off i believe!!!! but i STUPIDLY contacted my college and said oh hey id like to start paying back this loan. grrrrr. i came to find out that after 7 years i didnt have to anymore. that’s not the case with the government loans tho, apparently that never goes away. but the psychic part of my brain tells me that it might be stupid to pay back if i cant afford it.”
*r*
ugh okay fine so im a hypocrite. :-/ the one im defaulting on was a private loan btw. and the big government one i have to start paying back in april or something when my forebearance (might be the last one im allowed they told me) is up. also tax dollars to subsidize education for the economically disadvantaged is totally different than tax dollars used to subsidize’s gigantic soaking tub and gigantic great room.
*r*