Wily Fox aka Angela wrote: I heard it is about people who need to get their mortgages refinanced as well as student loans. REAL ANARCHY that stuff. I can see why the GOP would stand in the way again. Must have something to do with hurting job creators, somehow
The Senate is taking the Obama plan apart and voting on it individually. Why would obstructionists do this? Oh, I forgot, "obstructionist Republican Congress" is what Obama plans to run on.
A real president with political skills would actually hammer out a compromise like Clinton did. Obama just chooses to fly around the country raising money and hatred for Republicans.
Thomas Sowell: There are no solutions, just trade-offs.
The people who are in such need to refinance their homes are the same ones who never should have been qualified to buy homes in the first place. Remember the words, toxic assets?
So for all intents this loan program just continues the same process that brought down the housing market. It affected the value of my home and yours. Why would anyone with any sense be for a program that does the exact same thing over and over again?
Many of the people who need to refinance are upside down because home prices dropped below what they owe and who are paying their mortgage and who haven't defaulted or missed their payments. They just want to get a lower mortgage payments and the banks won't refinance without this program. I am one of them.
Wily Fox aka Angela wrote: I heard it is about people who need to get their mortgages refinanced as well as student loans. REAL ANARCHY that stuff. I can see why the GOP would stand in the way again. Must have something to do with hurting job creators, somehow
Do you, as taxpayers, want to be on the hook for repaying the banks when the foolish loans go bad or don't you? If you are good with being on the hook, then why are you upset that the banks got bailed out the last time the implicitly guaranteed loans that they made went bad and the federal government had to fork over $800 billion to make good on their promises or selectively default on the obligations that they coerced the financial institutions into accepting backed by the full faith and credit of the federal government?
That is all this is - the federal government stepping in to again guarantee a loan made by a financial institution at the behest of the federal government for which you and I as taxpayers will be on the hook to make good if the loan defaults. Obama is setting up the next Wall Street bailout right before your eyes and you are mad at the GOP because they don't want to make the same mistake twice? Seriously?
Conservation Voice wrote: Many of the people who need to refinance are upside down because home prices dropped below what they owe and who are paying their mortgage and who haven't defaulted or missed their payments. They just want to get a lower mortgage payments and the banks won't refinance without this program. I am one of them.
:faint: I just bought a new car last week and now I find out I am underwater on the payments. Do you think Obama will let me refinance my loan since my car is no longer new? That would be pretty sweet to pay 1/2 price for a car I bought last week at full price.
Screw those pension plans and the seniors who own them! I know I borrowed and agreed to make my payments but now I only want to make 1/2 payments.
Thomas Sowell: There are no solutions, just trade-offs.
Personally, I'm getting sick and tired of people getting bailed out on my tax dollars. Ultimately, all we are doing is rewarding irresponsible behavior, over and over again, whether it's the Wall Street fools, or Mr. and Mrs. Public who just HAD to get that house they couldn't afford.
Shouldn't any 'special' program be available to any homeowner? I've never missed a payment, I've been responsible, I bought a home I could afford - where's my deal? Or, maybe should we just let the market correct itself?
Me too... It's time to shut down AIG; Goldman-Sachs; Wells-Fargo; Chase... Let 'em fail....
Amazing how many other people "bought homes they could afford" 15-20-25 years ago, and through no fault of their own, got laid off... Bastards... They should have known.
At least they know not to expect anything from the right-wingers... That should help them decide who to vote for in the next election.
Wily Fox aka Angela wrote: I heard it is about people who need to get their mortgages refinanced as well as student loans. REAL ANARCHY that stuff. I can see why the GOP would stand in the way again. Must have something to do with hurting job creators, somehow
"I borrowed too much money from the government to get my college education and buy my house. So now I want the government to give me a break on my loans here!"
What's wrong with this picture? It's simple. In a free market you go to the private sector for your money - and you can only borrow what you can repay, whether it's for your education or your house, because a private company is taking on the risk of carrying your debt. But if the government says 'hey, we'll loan you all you want - for whatever you want to buy' and you're selfish enough to take the (taxpayer) money and run, the least you can do is face up to your stupidity and shortsightedness when you're struggling under the weight of your debt - instead of going back to the government cow - once again! - and whining about your circumstances.
Stupid selfish libtards.
We make a living by what we get, we make a life by what we give. - Sir Winston Churchill
Nmysys wrote:
For Obama to impose yet another mortgage bailout on a country sick of bailouts is outrageous. The subsidized-refinancing scheme will cost taxpayers at least $600 million according to the administration’s own estimates, and will almost certainly cost much more than that if any significant number of borrowers actually sign up for the program. That’s because the federal government is a significant owner of mortgage-backed paper.
...when the Federal Government has no business being in the business of holding mortgages of American homeowners in the first place. The more government we have the more screwed up our economy is. The only way to fix this is for them to get the hell out of the way - take their regulatory red tape with them - and let the private sector alone to fix itself. Downsize. That's the best gift our legislators can give us: shutting themselves down.
We make a living by what we get, we make a life by what we give. - Sir Winston Churchill
Nmysys wrote: The people who are in such need to refinance their homes are the same ones who never should have been qualified to buy homes in the first place. Remember the words, toxic assets?
So for all intents this loan program just continues the same process that brought down the housing market. It affected the value of my home and yours. Why would anyone with any sense be for a program that does the exact same thing over and over again?
Insanity is doing the same thing over and over again and expecting a different outcome.
We make a living by what we get, we make a life by what we give. - Sir Winston Churchill
Screw those pension plans and the seniors who own them! I know I borrowed and agreed to make my payments but now I only want to make 1/2 payments.
