Foreclosures - Should the government intervene?

If they want to help people in foreclosure than they should help every American that is paying their bills. What about those that live in houses they have paid off even?

If they are going to give 4% interest loans to people in foreclosurer but not to us that are making our payments than whats to stop us that are paying our payments from letting them slide back a few months so we qualify for these great rates also?

I heard on the news last night people are already doing that. People that pay their bills and took the time to be responsible should be rewarded.

It's to bad we've became a nation where if you screw up because you aren't responsible we'll reward you, and if you do the right thing and are responsible you just pay the way for rest.

No one put a gun to these peoples head and said yes you will buy this house you can't afford. These people need to take responsibility for their actions.

If your laid off because of the all of this economy stuff and now are having trouble making your payments thats different. You didn't ask to be laid off. It's not your fault. Restructure those peoples payments grant them leweigh.

If you were part of the problem that made this mess we now deal with than learn your lesson. The right one, not the one that the government is going to bail you out every time you screw up.

The American dream is not a handed out thing you work for it. You take the size dream you can afford not the one you can't.

I also heard on the news last night that a lot of those that have already had their loans restructed have already started defaulting on the loans because they still can't make the payments.

Originally posted by napayshni57
If they want to help people in foreclosure than they should help every American that is paying their bills. What about those that live in houses they have paid off even?

If they are going to give 4% interest loans to people in foreclosure but not to us that are making our payments than whats to stop us that are paying our payments from letting them slide back a few months so we qualify for these great rates also?

I heard on the news last night people are already doing that. People that pay their bills and took the time to be responsible should be rewarded.

It's to bad we've became a nation where if you screw up because you aren't responsible we'll reward you, and if you do the right thing and are responsible you just pay the way for rest.

No one put a gun to these peoples head and said yes you will buy this house you can't afford. These people need to take responsibility for their actions.

Well, I understand your frustration...

But consider... If ten million houses sit on the market another year - homeowners
will be impacted anyways, with slumping values and RUNDOWN HOMES
in the neighborhood.

ASK yourself this - Who is going to pay $500,000 q on a home worth $300,000?

Who will pay for it in the long run anyways?

reply to post by mental modulator


For all I know the house I bought a few years ago is now worth less than what I paid for it.

Not my fault but I'll bite the bullet and take it like a woman (since I'm not a man)

I guess those houses set empty until the banks and mortgage companies decide to take the loss and price them down where real people can actually afford them.

Never forget one persons misfortune is another persons fortune.

As for my house not being worth its value..I my mama might of raised some ugly kids but not real stupid ones.

People doesn't understand that in our government system first the elite gets bailout and then the regular Joe with whatever crumbs is toss to them.

Like I said already, empty homes means no income to the state no money to pay for social services, the school system, the police department the fire fighters and so on.

That is why now the morons in Washington can not afford to have more bankrupt states with tent cities popping all around while their budgets get cut.

No, it's not the governments job to keep any industry or business or economy afloat, that's the job of the respective business or industry or economy; In fact it seems to me that this could have been prevented if the government DIDN'T have any regulation to start with and had instead said "you're on your own, and we're not going to bail you out if you misstep."

Not only is it unconstitutional, but its forcing the 92% of homeowners who CAN afford their mortgages to pay for the stupid 8% that got themselves into a situation (whether it be an investment purchase or honest ignorance) where these types normally WOULD ask the government for help.

You know, the Japanese government messed around with Japans economy in the 1990's and it lead to nearly uncontrollable deflation. During the great depression FDR decided to use a lot of government programs to try and help the economy too. Many economists say they did nothing but lengthen the depression.
The economy was artificially inflated anyway, i think we need to hit bottom before we bounce back, I'd like to see the DOW somewhere in the 6000's before it starts rising again.