Delinquent Homeowners to Get Mortgage Aid from Obama Administration

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Originally posted by Chance321
reply to post by LeoTolstoy

 

I think you might be missing the point on some of the posts against this latest bailout. I've got nothing against the working class stiff that worked all his life for his home getting "help" if he gets laid off, ect. I think what people have a problem with is people that bought homes that they knew they could never afford expecting the government to bail them out. There's a big difference between people buying homes they could afford and people buying homes they knew they couldn't ever afford.

I really don't think that the people who were buying the homes ever even imagined that the gov't would come running and bail them out in the future, most of these people were buying homes while bush was in office, ya know, the president that kept telling us everything was fine and we should go take a prozac!!
I think it would be safer to say that the banks were expecting a bailout!!! considering that they didn't even bother protecting their rights to the assetts, the note, well, I'd be tempted to say that they were gaurenteed a bailout!!!

Originally posted by Sparkitekt
Some of you people really disgust me. To assume that many of these people were irresponsible and worthy of losing their homes is outright selfish and ignorant. Given the circumstances and what has happened in recent years to the economy, you ought to show some compassion for your fellow neighbor. Regardless of what taxes you're paying, you'll never feel the pinch, for you're losing money you haven't seen anyway. Get over yourselves already. I'm a homeowner, and a business owner. I almost lost my home and my building where I practice architecture. I was lucky enough to eventually find a buyer willing to take my office for a reasonable asking price. But that doesn't mean I'm making it big at the price I sold it for. I had to take loans, refinance, personal loans, damnit I even had to ask family for help just to keep myself and my employees afloat. Do you think I was able to manage all of that by being irresponsible and careless? Bottom line, s#it happens, and when you're dealt a bad hand, you make the best out of what you've got. I pay taxes quarterly...What's my thought on that? Eff it, everyone else does too...So me whining about the many that abuse the system won't get me anywhere but down a long road of bitterness and anger toward a face I've never seen. Stop ya bloodclot crying, and man up bitc#es. There are MANY families that need and DESERVE to be helped out. I hope you'll never have to stick your hand out for help, because as karma goes, you'll get the same help you've given.

Actually, I believe that at least half, maybe more, were victims of the housing market bust. I feel for them. I really do. I don't wish anyone to be homeless.

But how is it my, or your, problem? We are not a Borg collective here. We are individuals, responsible for ourselves. If you choose to take responsibility for someone else's aches and pains, then good job! Glad you have the means to do that! But nobody has a choice. We are told that we are going to help them, even if it breaks us in the process.

/TOA

reply to post by dawnstar


You're right-the banks most certainly were expecting a bailout. Remember the Savings and Loan crisis? The banks got a big reward bailout from that, too. Here's a true story:

An attorney I know had a professional aquaintance who was a loan officer in the 1980s. She lost touch with him for a few years during the S&L mess. During the build-up on the most recent banking bubble (around six years ago), she happened to run into a problem with some serious mishandling of land conveyancing and loan originations with a bank she happened to be working with. She finally had to speak to one of the more senior officers, and it turned out to be her old loan-officer aquaintance. She asked him "didn't you learn anything from the S&L crash???!!! He replied "yeah, I learned that we can do whatever we want and when the bank goes under, the government bails us out and I get a better job with a bigger bank."

Originally posted by JustXeno
I joined ATS a couple of months ago because the people on here seemed to be intelligent, open minded and above all fair.
I've read every post in this thread and have never been quite so disgusted with the sod you jack I've done well attitudes that seem to be prevalent here.
I've ammended my opinions of most of you today and not for the better, not that most of you will care what anyone else thinks of you just because they haven't got the same amount of money, nearly everyone on the site talks abut the ELITES, but in my opinion thats what you are. You know who I'm talking about, we've got money, you haven't, you're scum that particular mindset. YOU ARE NOT BETTER, you are more fortunate and only a very small percentage of you with money have the intelligence to realise that.

What also seems to escape the attention of some of these self-owning cretins is that many of these struggling homeowners were themselves taxpayers until recently and have as much right to an opinion about where their tax money goes as do the "Pull-Up-The-Ladder" rabble.

Originally posted by Chance321
reply to post by LeoTolstoy

 

There's a big difference between people buying homes they could afford and people buying homes they knew they couldn't ever afford.

Indeed there is and it's a pity more people didn't make that distinction before wading in with their primitive prejudices.

Originally posted by Section31

Originally posted by spinalremain
reply to post by neo96

 

Once again you're living in this elitist fantasy.

People who were making 60k+ and gainfully employrd have lost their job, Neo.

They cannot pay their mortgage because they have no income. They once did, and could afford it..............now they can't. You can't just lump everyone into the category of "lazy and living above their means"

We moved to a more affordable house.

*shrugs*

You have to know when to hold them, know when to walk away, and know when to run.

Life is all about taking risks, and being responsible for the end results.

edit on 6/4/2011 by Section31 because: (no reason given)

Well good for you. I'm sure you had the means to afford to run right out and purchase a cheaper home and had a lickity-split sale without a quick sale or foreclosure, considering the positively robust sales stamina of the past several years.
And if the sale wasn't a fast one, I'm sure you had the means to swing the mortgages of 2 homes with ease for however long it was necessary. By golly, don't people understand how easy it is to trade down to a more affordable home? Surely that unaffordable home hasn't drained their savings, they must have money aside somewhere still to purchase again!

Take your blinders off, and realize you got LUCKY. Nothing more. If you hadn't been able to rid yourself of that burdensome unaffordable home, you easily would have been careening down that slope with everyone else stuck between a rock & a hard place.

reply to post by seaside sky

She finally had to speak to one of the more senior officers, and it turned out to be her old loan-officer aquaintance. She asked him "didn't you learn anything from the S&L crash???!!! He replied "yeah, I learned that we can do whatever we want and when the bank goes under, the government bails us out and I get a better job with a bigger bank."

Exactly, and yet people refuse, or pretend not to see this simple reality.

The government should go back and collect all the bonuses earned by these shady real estate deals, and use that money to pay down our national debt.

Originally posted by LeoTolstoy

Originally posted by Chance321
reply to post by LeoTolstoy

 

There's a big difference between people buying homes they could afford and people buying homes they knew they couldn't ever afford.

Indeed there is and it's a pity more people didn't make that distinction before wading in with their primitive prejudices.

Where exactly is the prejudice here? So you figure someone flipping burgers should be able to buy a huge house? Wouldn't it be "smarter" to wouldn't it be smarter to buy a home you can afford? It's people like you that are happy living in a nany-state expecting that if know I can't afford it "The Government'll" pay for it. Instead of takeing responceability for myself.

reply to post by Chance321

the only ones who were expecting the gov't to pay for these houses, or the mess created with them at the time they were bought, was the banks.....
to suggest otherwise is insane!!

Originally posted by jimnuggits
reply to post by felonius

 

Transparency is the only way forward that doesn't end in violence or third world status.

If we, as a democratic body, start demanding a completely open government which is not allowed to hide a nickel, there may be hope.

As it stands, we really have no good, unbiased information about what we spend our money on, only that we all gotta keep working so we can pay off this debt.

I just bet that if we had a receipt for all our taxpayer purchases, there would be a hell of a lot more common ground between 'left' and 'right.'

An informed public is a dangerous public...

Amen.

Asides from Neo Cons and Progressives, the TRUE liberals and conservatives actually do need each other.

One is more "heart" and one more "head".

Without love, intellect becomes tyranny.
Without intelligence, love becomes maudlin.

balance. NeoCons and Progressives? FASCISTS!

We need the caliber of people like we had in 1776. They had it balanced pretty well.

Originally posted by Chance321Where exactly is the prejudice here? So you figure someone flipping burgers should be able to buy a huge house? Wouldn't it be "smarter" to wouldn't it be smarter to buy a home you can afford? It's people like you that are happy living in a nany-state expecting that if know I can't afford it "The Government'll" pay for it. Instead of takeing responceability for myself.

I get the well-founded impression that you didn't read the post you just quoted. That post clearly alludes to the clear distinction between those who bought homes they couldn't afford and those who have simply lost their source of income as a result of the recession. Read the post again and you will see the word "distinction" within it. There, that's a small clue for you. It's much more preferable to blundering in and exposing yourself as someone who is incapable of seeing two-sides to anything other than your own pay cheque.

we're considering a strategic default, why not, most of the big fishies have already taken this course and defaulted in loans that weren't for a hundred thousand, but rather in the millions of dollars!!! it just makes since!! after all, in the end, when we pay that last payment, we just might find that we've been paying it to the wrong people, or someone will pop out of the woodwork and claim they have the rights, or well, the bank could just foreclose anyways.....what the heck, I believe all of the above has already happened to other people!

It is way less disgusting to me then all the BS corporation bailouts that were passed under the current and prior administrations. At least in this situation you know that it might help some people that are just currently down on thier luck and are looking to rebound back.

reply to post by macman


No worse than what the rest of tax money goes toward. These are hard times for most Americans. The economy has been destroyed, and people are losing their jobs and homes. I used to think like you. Then I was laid off, and lost my home. I ended up homeless, and had to fight hard to get back to where I am today.

I go without, my children go without, we cant afford the basics, but we have NEVER been late on a mortgage payment. This pisses me off. Because I have gone without Sat TV, movies, out for dinner, descent clothes and shoes, even close on the basics like toiletries, I have sit back and watch the mediocre minds who dont pay their bills first, be REWARDED!!!! I hate this! I cant hardly pay my electric bills anymore.

Originally posted by antar
I go without, my children go without, we cant afford the basics, but we have NEVER been late on a mortgage payment. This pisses me off. Because I have gone without Sat TV, movies, out for dinner, descent clothes and shoes, even close on the basics like toiletries, I have sit back and watch the mediocre minds who dont pay their bills first, be REWARDED!!!! I hate this! I cant hardly pay my electric bills anymore.

Perhaps you should apply for public assistance...that's what it's there for. Not for those who do face financial ruin to claim 'holier-than-thou' and refuse help based on backwards principals insisting that your neighbor won't be there for you when you need it, so you shouldn't be there for them.

reply to post by links234


Ok I am on disability, I get foodstamps. My bills exceed what I bring in. Nothing more can be done. I am sub poverty. They do not support the people who are responsible with what they receive.

Originally posted by baked
reply to post by macman

 

No worse than what the rest of tax money goes toward. These are hard times for most Americans. The economy has been destroyed, and people are losing their jobs and homes. I used to think like you. Then I was laid off, and lost my home. I ended up homeless, and had to fight hard to get back to where I am today.

edit on 16-6-2011 by baked because: typo

So argue against raised taxes and handouts until it directly affects you.
Hypocrisy in action.
Please don't misunderstand me or misquote me. It is a shame that happened. I just don't see where it is my financial responsibility for your misfortune.

Originally posted by antar
reply to post by links234

 

Ok I am on disability, I get foodstamps. My bills exceed what I bring in. Nothing more can be done. I am sub poverty. They do not support the people who are responsible with what they receive.

No truer quote could have been had from this post.