Extended Benefits For Those With Large Mortgages

http://money.cnn.com/2010/03/26/news/economy/Obama_mortgage_relief/

I have to say that people should sleep with the deals they make. If one overpays for something, or makes a foolish deal, live with it. It's life. It happens. I've made bad deals before. I sold a house to someone who had it forclosed on and under law at the time, I became a debtor to it. I had to pay $25,000- and did so. I didn't like it, but it was the right thing to do. Also, as someone who lived in a car for two months (when I was much younger) and has been laid off from jobs, I have empathy for people who lose their jobs. But aside from unemployment and a few other basic emergency services, I am opposed to tax dollars being spent this way.

 

is it that hard to just fucking rent if you can't afford a mortgage or move to a shittier neighborhood for fucks sake. you're not entitled to home ownership.

 

the thing is that they're just delaying the inevitable anyways. most of these people getting modified loans will end up defaulting since the economy isn't going to get much better.

 

GWB II thought so...

 

How about some help for those who arent lazy and work but are still having a hard time paying the bills?

 

Link? I'm interested where he said it was a basic human right of every American to own their own home and if you can't afford it, that the government will help you to purchase one.

 

I don't even know how to respond to this line of thinking. What happened to personal responsibility? I don't mean to sound harsh, but "having a hard time paying the bills" isn't a basis for government intervention to continue a certain lifestyle.

 

Being lazy and not working, racking up credit card debts etc, then filing bankruptcy is responsible?

My point was that the worthless and lazy people in our society need to stop getting all this "help". I'd rather see the $$$ go towards people who pay taxes and deserve/earned it.

 

What about them? Just because they work and are over extended, why should Big Broth..., errrrrrrrrrrrrrrrrrrrrrr, the Federal Government bail them out personally? I cut out cable, a land line telephone, some home projects, and other things to make life more affordable. If one looks at our cupboards and refridgerator, you will see they are nearly bare as all we keep are the essentials. The two of us eat for about $200/month. And if I need to make more family cutbacks, I will. If I need to take a second job, I will.

Why can't others?

 

I'm a very liberal guy, but I really don't like the idea of helping people get out of these mortgages. They need to be foreclosed on. The people need to get kicked out. The housing prices will drop. Somebody who used to be priced out of the market will be able to step in. The housing market recovers.

I live in a much cheaper house than I could've afforded at the peak of the housing boom because I thought prices were stupid. Why should my tax money go to pay for mortgages for people who weren't as careful as me with their money? Why should I help somebody else live in a nicer house than mine?

I'm a strong believer in a social safety net in this country. But I don't see why underwater mortgages have to be part of it.

 

Me too. We bought an 880 SF house under market value as it seemed impossible the market could sustain those prices from a few years ago.

 

redistribution of wealth.

 

Hit the nail right on the head.

 

You're absolutely right. But I thought the worst of The Great Recession is behind us. I was ok with "too big to fail" thinking 10 months ago, because it was a pretty scary time. The economy still sucks, but I don't hear economists talking anymore about being on the precipice of another Great Depression anymore.

So to me it gets back to basic social safety nets. I feel bad for people who are underwater. I appreciate how much it sucks to get kicked out of your home. I can even get behind the idea of the government writing a thousand dollar check to help unemployed people pay for a moving truck to get out of their foreclosed home.

But don't tell me that all these homeowners are too big to fail. I just don't buy it.

 

I've never encountered anyone like that in my life, and I doubt you have either.

 

I do agree most if not all bill collectors are lazy, don't do any actual work, and have a high incidence of filing personal bankruptcies. But they are parasitic by nature and aren't representative of Americans in general.

I'm curious, just how many bill collectors are you married to?

 

Here you go. 440 Billion dollars freed up to help people that can't afford homes buy them...the cool thing is that we bought them back at a song...

[video=youtube;kNqQx7sjoS8]http://www.youtube.com/watch?v=kNqQx7sjoS8[/video]