Should taxpayer money be used ...

[cguill]

to help delinquent homeowners avoid foreclosure ???

Why or why not ???

 

[Pig Pen]

I would rather help homeowners than bail out billionaire CEOs.

 

[clgwli]

No. Sorry if you can't do the math and realize that a few years down the road you cannot afford the home even in dire times then that's it. Pay the consequences. We bought this house knowing that we could support it with just one person working. We didn't listen to the brokers saying we could afford a house that cost twice as much.

I do realize some fall on bad times but most of the people I have seen lose their homes personally are just irresponsible. I don't want my taxes to pay for their stupidity.

and yes I will be flamed because I am sure someone will say how heartless I am and how they didn't realize they would lose a job. I feel for those but again if you don't think to the future I am sorry. Foreclose on the house and hopefully in several years you can try for another.

 

[happygirl]

No, I shouldn't have to pay for people who aren't responsible to pay there own bills. I pay my bills I don't expect for anyone to give me a handout

 

[NY Disney fan]

I would rather help homeowners than bail out billionaire CEOs.

In theory, yes, I agree with you. In reality, let them both fail. Failure teaches us all a lesson.

 

[CapeCodTenor]

Like a previous poster said, "if you can't do the math..."

 

[ericamanda01]

NO! My husband and I knew that we couldn't afford a mortgage payment right now, even if we went with the adjusted rate. So it's not my responsibility to bail out everyone who pretended they could. If I had a credit card that I couldn't pay I wouldn't expect anyone to help me. As a matter of fact I would expect to be attacked for overspending and buying things I didn't need.

 

[Master Mason]

No

 

[MALE*RN*777]

No.. Who says you have to own a home or own one out of your price range. You should have thought before you bought... Why should I have to eat bologna for lunch to afford to pay for my kids private should when others with big screen tv's, going out for meals, etc, use my money to better them selves.

 

[lindalinda]

No. It ends up being taxpayers bailing out the lenders then. I think there should be a freeze on foreclosures, and the LENDERS should have to renegotiate, but not for a reduced amount. Possibly for a fixed rate, or a reduced rate, or even an extended mortgage with a lower payment. Help, but not buyout.

 

[Tomader]

I would without question help the homeowner stay in their home. I don't want any more vacant homes in my area. It makes all our homes values go down. I don't agree with helping people keep second homes but I would help the average person stay in their current home. Why should I help corporations but not the average person? Why is it okay for the government to take my money and bail out big banks. I don't want to see anyone without a home. There are children in alot of these situations to consider. I also feel for the average person that has lost their job and fallen behind on their house payments. They deserve the help.

 

[NY Disney fan]

They deserve the help.

That's why God invented rental apartments.

 

[rabx5]

Nope. Why should I be punished for making my mortgage payments on time? I have to pay my mortgage and somebody elses mortgage too

Don't even get me going on the Wallstreet bailout.

 

[ZPT1022]

No. Sorry if you can't do the math and realize that a few years down the road you cannot afford the home even in dire times then that's it. Pay the consequences. We bought this house knowing that we could support it with just one person working. We didn't listen to the brokers saying we could afford a house that cost twice as much.

I do realize some fall on bad times but most of the people I have seen lose their homes personally are just irresponsible. I don't want my taxes to pay for their stupidity.

and yes I will be flamed because I am sure someone will say how heartless I am and how they didn't realize they would lose a job. I feel for those but again if you don't think to the future I am sorry. Foreclose on the house and hopefully in several years you can try for another.

exactly

NO! My husband and I knew that we couldn't afford a mortgage payment right now, even if we went with the adjusted rate. So it's not my responsibility to bail out everyone who pretended they could. If I had a credit card that I couldn't pay I wouldn't expect anyone to help me. As a matter of fact I would expect to be attacked for overspending and buying things I didn't need.

us too. We looked a little while back and just felt uneasy about the whole thing. I wanted more of a savings cushion before we buy. I'm paranoid that we will buy a house and the roof will cave in the next day. Now obviously we will have an inspection and I doubt that would really happen but I want to know that if it does we're not completely screwed, kwim? We want a house desperately but I don't expect someone to give me one just because I want one, so why should I help bail out all the idiots who were in the same or worse position that DH and I were but didn't have the common sense to say no? Too bad, so sad.

I would without question help the homeowner stay in their home. I don't want any more vacant homes in my area. It makes all our homes values go down. I don't agree with helping people keep second homes but I would help the average person stay in their current home. Why should I help corporations but not the average person? Why is it okay for the government to take my money and bail out big banks. I don't want to see anyone without a home. There are children in alot of these situations to consider. I also feel for the average person that has lost their job and fallen behind on their house payments. They deserve the help.

They can take the money from those mortgage payments they haven't been making and rent an apartment. It's not the end of the world. Children will thrive in an apartment just as well as they will in a house.

 

[SorcererDonald16]

Taxpayer money should absolutely not be used to help people pay their mortgage payments. And for the record, I was completely against the bailout too. Taxpayer money should be used for none of this because it's only hurting those who did make their payments on time and in full.

If the years on their loan can be extended so they'll have lower monthly payments but still pay the same amount, I'm okay with that. I'm only okay with that because the problem is so widespread.

I do not think under any circumstance the principal of the loan should be reduced one penny. People sign on the dotted line, you can't just go back and say "Okay, don't worry about $10,000 or however much of that amount."

As for the interest rates, an Adjustable Rate Mortgage by definition means your payments could get lower or higher at any given time. And you have to plan for that. If the government sees fit to make interest rates lower, it has to be done for everyone with an ARM, not just those struggling to make their payments.

 

[H.E. Pennypacker]

Heck no! Nobody's helping me pay my 30-year fixed. Why should I have to help somebody else pay their ARM because they bought too much house or didn't straighten their credit out in time to refinance into a fixed? Let the mortgage banks fail and let the homeowners get used to renting again.

 

[PetrPan]

In theory, yes, I agree with you. In reality, let them both fail. Failure teaches us all a lesson.

Absolutely. I agree, I was willing to tolerate another Great Depression if that is what it came too. We are a country that is quite spoiled and live outside our means. Let us learn a lesson we will never forget.

 

[cguill]

If the Mortgage Companies said ok we will keep your loan the same just extend your mortgage by another 10 years (whatever the amount of time), lower your payments a little - would that really work for the Mortgage Companies in the long run ??? It sure may help keep people in their homes ...

 

[ZPT1022]

If the Mortgage Companies said ok we will keep your loan the same just extend your mortgage by another 10 years (whatever the amount of time), lower your payments a little - would that really work for the Mortgage Companies in the long run ??? It sure may help keep people in their homes ...

I would have less of an issue with that because it keeps it between the mortgage company and the homebuyer. They're still getting bailed out but it doesn't affect other people as much, although thinking about it, it would probably affect those who will need mortgages in the future

 

[eliza61]

I would rather help homeowners than bail out billionaire CEOs.

Thats kinda how I feel PP. I was in NYC yesterday. Our friends on wall street got their year end bonuses. average price 625,000. I was furious (still am) so I just bailed their butts out by the tune of 700 Billion with a B dollars and they got a bonus 15X's the average salary.



If some one lost their homes due to job loss or medical illness or hurricane Katrina or Ike. I have no problem helping them out. I prefer that than sending millions to Republic of Georgia, Myrmar or all the other foreign countries we give aid to.