Housing help

[you have to be kidding me]

Dem wrote:

<quoted text> You should be happy that you are not among the less fortunate! You don't need any help, so have a little compassion for the poor souls that do.

How about some compassion for all the people who were priced out of the market and did NOT buy a home they knew they could not afford on an A.R.M. just because they wanted what they wanted right now. And what do they get? They get to bail out all the people who did buy a home they knew they could not afford just because they wanted what they wanted right now. And your your gonna try to tell me that you did not understand what the word ajustable ment in an A.R.M. loan? So now I should bail you out?
Oh pa-lease!

[NoFreeRides]

Dem wrote:

<quoted text> You should be happy that you are not among the less fortunate! You don't need any help, so have a little compassion for the poor souls that do.

There is a huge difference between less fortunate and less responsible.

If their problems could have been avoided then they are less responsible.

[Mike Baltimore]

I bet that everyone in this situation of looseing their home, and everyone in their family has a cell phone. I can't afford one, I have to pay my morgage payment.

[Danielle]

I can wait wrote:

<quoted text>
How about some compassion for the people who were priced out of the market and did NOT buy a home they knew they could not afford on an A.R.M. because they wanted what they wanted right now. And what do they get? They get to bail out all the people who did buy homes they knew they could not afford because they wanted what they wanted right now. and your going to try to tell me that You didn't understand what the word ajustable meant in an A.R.M. loan? Oh PA-Leeeez! give me a break.

I couldn't agree with you more! I do feel bad for people that are losing their homes. I don't want anyone to be homeless. I do have compassion. I just also have compassion for future generations that will have to pay for all of these bailouts.

[Ricky]

Well, here's one: I saw an ad on TV (more of a public service announcement) that said, don't worry about the planned change to digital TV in Feb. If you still don't have cable, call this number to get in on the Government program to supply you with a digital converter! So now, we that taxpayers can bail out the Billionaire Hedge-Fund managers on Wall Street who banked our entire nation's economy on mortgage-backed securities, the people who took out second mortgages who now owe more than their home is currently worth, and the people who want to sit around watching Oprah and Judge Judy instead of working. Lovely.

[Danielle]

Ricky wrote:

Well, here's one: I saw an ad on TV (more of a public service announcement) that said, don't worry about the planned change to digital TV in Feb. If you still don't have cable, call this number to get in on the Government program to supply you with a digital converter! So now, we that taxpayers can bail out the Billionaire Hedge-Fund managers on Wall Street who banked our entire nation's economy on mortgage-backed securities, the people who took out second mortgages who now owe more than their home is currently worth, and the people who want to sit around watching Oprah and Judge Judy instead of working. Lovely.

If it makes you feel better (unless the program changed) it is just a coupon for $40.00 off of a converter. Which I might add is the least that they can do as they are taking away free broadcasting and selling the airwaves for a hefty profit.

[Cable Guy]

Danielle wrote:

<quoted text>
If it makes you feel better (unless the program changed) it is just a coupon for $40.00 off of a converter. Which I might add is the least that they can do as they are taking away free broadcasting and selling the airwaves for a hefty profit.

What do you mean taking away free broadcasting? Stupid, they are giving you (I should say, tax payers are paying for) a free converter so if you don't have cable you can still get the "through the air" signal that is now going to be digital. There is no difference except that the signal will not be picked up on the old analog sets. It is still free, and in fact I am paying for it (since I don't need one and won't get the benefit) so, you're welcome!

[Ronnie C]

I have an idea... Stop lowwering standards for credit scores. This is what started the mess. People who have had no positive history of paying their bills should not get loans. Bailing them out now just prolongs the problem.

[jeffro]

I think we need to let the entire thing collapse and start over again. If you really examine the US closely we are a dysfunctional country living on borrowed money and borrowed time. The dysfunctional blacks rule every city in the US with guns and violence, it is now spreading outside the beltways, the dysfunctionals are outbreeding the functionals by 5 to 1. Eventually will be a nation of urban gangsters with a minority of workers supporting the dysfunctionals that sit around,smoke dope, watch TV, have sex and go out and shoot guns once in a while. The government is bankrupt, all industry has left. We have no cornerstones of society anymore. Where is my crackpipe???

[Bill Hubbard]

Why should those of us fiscally responsible bail out those who were not ?

[David]

Hey, "star gazer", let him help "the less fortunate" from your wallet / check book. Big talk for somebody that is spewing about other people's money!!!

Dem wrote:

<quoted text> Obama will help the less fortunate, just like all Democrats do! Do you want to ally yourself with the damn greedy rich Republicans?

[Moon otter]

I don't feel sorry for those who bought outside their means. But what I disagree is allowing building companies to sell stock and then have to meet their dividends expectations. When this was allowed housing went nuts and inflation commenced. People started getting greedy in selling their homes for more than what it was worth then assessments went nuts. Now that the market is tanking, assessments should go down and be based on the market value. NVR, Toll House and other housing companies should relenquish their stock. I am sorry but housing is not a commodity. People need places to live but companies shouldn't expoit these people either. We can say thank-you to the government for allowing this mess to occur and it started with the deregulation of the banks. Yet people should be responsible for themselves and I am sorry for their luck.

[Stack]

Mike Baltimore wrote:

I bet that everyone in this situation of looseing their home, and everyone in their family has a cell phone. I can't afford one, I have to pay my morgage payment.

I'm assuming you have research to back up that brilliant point. I don't know anyone who is "looseing" their home so I can't comment.

[Stack]

Bill Hubbard wrote:

Why should those of us fiscally responsible bail out those who were not ?

Because if we don't put some stability in the housing market then the fiscally responsible will lose a ton of money. I'm disgusted at donating my tax money, but no more so than I was when Bush and congress stole my money for the rebates. At least in this case it may actually help the economy.

[NoFreeRides]

Stack wrote:

<quoted text>
Because if we don't put some stability in the housing market then the fiscally responsible will lose a ton of money. I'm disgusted at donating my tax money, but no more so than I was when Bush and congress stole my money for the rebates. At least in this case it may actually help the economy.

It will help in the short run by delaying the inevitable collapse. At some point we need to let the whole thing collapse so that we can get back to fiscal sanity.

[Reinedeer]

The entire housing market is experiencing a correction. Do away with Mortgage Brokers and give it back to Mortgage Bankers. Get the Realtors out of lending. Regulate profitability on loans. Get it back to safe lending practices, integrity in lending and just plain “doing the right thing”. I love what I do. But I don’t take advantage of someone’s inexperience to make as much money as possible on them. Fair Lending, RESPA, TILA - what a farce it has been. No one monitored the Brokers. The gov should look at the BROKERS. Simple and true. Then take a look at the partnerships that have been created between realtors and brokers and see what they are building: channeling customers to mortgage brokers that have an interest in their real estate company. it’s a breeding pond for more abuse

[NoFreeRides]

Reinedeer wrote:

The entire housing market is experiencing a correction. Do away with Mortgage Brokers and give it back to Mortgage Bankers. Get the Realtors out of lending. Regulate profitability on loans. Get it back to safe lending practices, integrity in lending and just plain “doing the right thing”. I love what I do. But I don’t take advantage of someone’s inexperience to make as much money as possible on them. Fair Lending, RESPA, TILA - what a farce it has been. No one monitored the Brokers. The gov should look at the BROKERS. Simple and true. Then take a look at the partnerships that have been created between realtors and brokers and see what they are building: channeling customers to mortgage brokers that have an interest in their real estate company. it’s a breeding pond for more abuse

Much of what you say makes sense, but one statement cuagth my eye.

"Regulate profitability on loans."

This will reduce access to credit. I have no problem with unlimited profit on loans as long as it is risk based pricing and there is no bailout for borrowers and lenders on these loans.

[Danielle]

Cable Guy wrote:

<quoted text>
What do you mean taking away free broadcasting? Stupid, they are giving you (I should say, tax payers are paying for) a free converter so if you don't have cable you can still get the "through the air" signal that is now going to be digital. There is no difference except that the signal will not be picked up on the old analog sets. It is still free, and in fact I am paying for it (since I don't need one and won't get the benefit) so, you're welcome!

In your argument you stated that that the signal is still free, which it is but if you take away a persons' ability to freely access it then it comes at a cost.(I also have cable and so the converter does not apply to me and lastly, people still have to pay for the converter they just get it at a discount). I also see that you did not comment on the fact that the federal government is making a lot of money by selling its current airwaves...

[Cable Guy]

Danielle wrote:

<quoted text>
In your argument you stated that that the signal is still free, which it is but if you take away a persons' ability to freely access it then it comes at a cost.(I also have cable and so the converter does not apply to me and lastly, people still have to pay for the converter they just get it at a discount). I also see that you did not comment on the fact that the federal government is making a lot of money by selling its current airwaves...

It's ridiculous that tax payers have to pay for someone else to get with the times. Why didn't people who bought HD players instead of Blue Ray (which is now the sole standard) get rebate checks, they spent a lot of money on new technology but someone who bought a TV set 25 years ago is getting a rebate for doing nothing to help the economy for 25 years. Face it, the rebate checks are a television and advertising lobby idea that is being thrust upon us by the government (the lobby's whore). And finally if the government can make money selling old air waves and it doesn't effect national security and maybe keeps a few more dollars in my pocket, more power to them!