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Controversial Social Issues Discussions concerning controversial social issues. Topics include politics, religion, culture, social and economic issues, etc. Respect required at all times.


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  #21 (permalink)  
Old 02-26-2009, 11:54 AM
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I just watched on CNN The secretary of Housing and Urban Development explaining his plan to help homeowners.

This is a young and smart gentleman understanding very well the market and how to fix this mess.

I will give him a A+ for his plan and wish him plenty of success.
http://www.whitehouse.gov/blog/09/02...Us-to-Step-Up/
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Old 03-02-2009, 02:29 PM
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hi

yeah i do feel that its encouraging
 
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Old 03-05-2009, 06:52 AM
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The government isn't supposed to be a philanthropic organization, and my tax money was never meant to be an endowment fund to be used for charity and vote purchasing. .
The Romans knew this, our founding fathers knew this - but our current government does not seem to understand.

When the tax dollars of the public are used to promote a few organizations, the Republic has failed.
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Old 03-30-2009, 08:57 PM
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The Romans knew this, our founding fathers knew this - but our current government does not seem to understand.

When the tax dollars of the public are used to promote a few organizations, the Republic has failed.
The Republic troubles started before the tax dollars of the public were used to promote a few organizations.

I guess no one knows how to get out of this mess.
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Old 03-31-2009, 11:33 AM
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Foreclosures spike - so do mortgage-help plans:

http://money.cnn.com/2009/03/30/real...ion=2009033109

More help from the government should be given to banks or homeowners to stop the bleeding of mortgage default (under certain conditions), to avoid the market failling down deeper and deeper.
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Old 04-04-2009, 04:09 PM
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A lot of people have forgotten that this economy is built on a free market economy. The market will take its course to correct any abnormalities. If that means some people will lose their homes that they couldn't afford in the first, so be it.
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Old 04-04-2009, 04:55 PM
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A lot of people have forgotten that this economy is built on a free market economy. The market will take its course to correct any abnormalities. If that means some people will lose their homes that they couldn't afford in the first, so be it.
Amen!

But the scum that financed the loans that they knew the people could not pay should have an even better justice.

For the period 2002-2007 I lost marginally paying tenants to home purchases. These people were one paycheck from disaster and some fool loaned the a 100K+ for a home purchase.

Let all of them reap what they sowed.
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Old 04-04-2009, 08:42 PM
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A lot of people have forgotten that this economy is built on a free market economy. The market will take its course to correct any abnormalities. If that means some people will lose their homes that they couldn't afford in the first, so be it.
No offense, but that's a pretty short view. I've heard that many times.

Mortgages with fixed rate:
People losing their jobs because of the economic crisis were able to afford their homes previously, but now the economic crisis is affecting the core of regular mortgages.

Just imagine someone who has owned their home for many years (let's say 7-9 years) losing all the equity in their home because they lost their job. Cannot refinance, cannot sell because of the home market crash, etc...

That's not fair and I am hoping the governement will help these people to prevent them from losing tens of thousands dollars.

After all, if these people borrowed the money they could afford years ago, and have always been on time with their payments, it is not their fault and it is not acceptable for them to lose their home just because they are behind by less than $10,000 to the bank and have lost their equity and their down payment.

I hope you have compasion for people in this type of situation.
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Last edited by Franc Tireur; 04-04-2009 at 08:47 PM.
 
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Old 04-20-2009, 01:03 AM
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The home mortage plan so far didnt help anyone at all, and i think it doesnt take into effect homeowners that are way below negative 10% on your equity to mortgage value.
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Old 05-27-2009, 03:47 AM
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Where everyone is thinking about loan modification, some people are thinking about buying more than they can afford is simply crazy.
 
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