Obama's Plan Won't Help All

[zone1282]

Question why would you buy a home for $700,000. You lose your job for what reason. Your screwed. Dude that is why are in this mess that we are in. Now our president is treating to cut off social security and medicare to the elderly and not pay are people in combat. What kind of crap is that. Oh yeah who likes to gas prices...raise your hand. Now think next time before you vote at the polls what this adminstration has put the american people through.

[lisas44]

@PaulDougouba - poor people have access to healthcare - free clinics, government-funded hospitals, Medicaid, etc. They call ambulance services to take them to and from the hospital at a cost of hundreds each trip to the taxpayer.

The gov't created the housing bubble, now you think they should have a monopoly on health care, really? No thanks, I've seen them run education!

As to "evil" corporations - how many people do you employ? How many millions have you donated to charity?

[PaulDougouba]

America...what kind of EVIL minded people are you?

You DENY Heath Care to the poor and those who cannot pay for treatment!

OUTRAGEOUS!!!

You allow RICH Corporations to EXECUTE poor people by denying medical treatment and operations - all so some Rich Bastard can get a higher percentage point on their profits.

USA - Do you realize that the WORLD looks upon you with DISGUST and CONTEMPT?

You KILL your own sick and poor citizens....all for the benefit of the RICH!!!

You evil people.......

[singlaprety12]

@PaulDougouba The health care plan is not about that. I am not rich yet I have healthcare. I do not want to bye a crappy over taxed healthcare program. Its still going to cost money and the middle class remaines teh most taxed.

[deanjehorek]

@PaulDougouba shutup yer damn canadian fag

[clusterfacker]

The Obama plan hopes to offer a public option, it's called competition, the thing Republicans claim to support. It's what you have in a truly free market, you have choices, and if the people choose the public option the private Insurance companies will have to lower their prices to compete, or they go out of business. That's called a free market: what part of that do you not understand?

[asleeperj]

It's the government that inflates the prices. It's the same as the housing bubble.

Slobbering Barney frank was sleeping with fanny and freddy. They dusted off the community reinvestment act and sure enough the prices went way above what the houses where actually worth. Government does NOTHING well. Your probably government educated. Case and point

[hellotommy]

This healthcare battle is so important. Do you ever go to the post office? Obama wants to destroy the private health industry, he wants an "all in" Government system, there are recordings of him saying that it will take about 15 years to knock out the private insurance companies because nobody will accept him taking away their care at once. The stimulus failure is just money; this will delay critical lifesaving medical treatments causing premature deaths.

[oldpreach]

Like a lot of folks, they bought at the top of a crazy bubble. I just can not believe that smart folks keep buying like that. The thing to do in 05 was to sell everything you had in real estate and move to somewhere that was much less costly...well, assuming you lived in Cali or somewhere like it.

[Senlocc]

ppl do go to canada for health care lol

[Beingreal40]

Please! Mess up your hair. Put on some torn jeans before crying for help.

GEEZ!

We love going to the tanning booth. I had to swipe my credit card twice just to pay for my childs electric toy hummer.

I understand your situation. But I could never dream of borrowing such a life style.

Appears you both will have stable jobs, assets, and money even after foreclosure..

Try no job. No unemployment . And facing foreclosure.

How embarassing for the people truly in trouble.

[Knightjc]

they're not at the freakin bottom

700000 house?????

we're living in a dam 75000 house ... every now and then

[weisscorey89]

I still dont not see how people underwater in their homes can blame President Obama. The sticks two by three's, and chinese tozix drywall, never were worth sevenhundred thousand dollars. These homes are energy inefficient, and if your neighbor is in his back yard and farts all enighbors front, back and sides, hear it. When one of these homes less then 12 feet from the next, goes up in flames the entire block goes with it. welcome to the hotel California.

[JordanMatthewT]

Watch my channel to stay informed. Thank You.

[therealcaptobvious]

they bought in an overpriced market. I understand why they're stuck. But if the cost of living index is over 200, don't be suprised when you see a correction. THey could've saved and had that house for $350 if they waited it out a few years.

[ghj879plm]

That is because they live in one of those H.O.A like a cookie cutter neighborhoods

[dapdaddy10]

Mooli?

Go sit in a room and study the teachings from your honorable leader RUSH LIMBAUGH.

lmao.

[iluvdakushgroove]

what did u expect people who voted for that stupid sandsucker mooli are dumb

[zzx2847]

Obama's policies caused this, when he was a trial lawyer he was suing banks over discriminatory lending. Just look where NONdiscriminitory lending got us... Yep government forces banks to pay no attention to the fact that the guy who wants to borrow $250,000 only makes $500 a year.

[eye7view]

They could have bought a $300,000 that looked better than that $700,000.

[misterfishermaan]

some dim KFC chomper put obama into power.obama messes up,so take it out on them

[iron1215]

Don't worry. Barack will have them print a bunch of cash and throw it your way. Problem solved.

[DestroyerX61]

owned

[NinjaTech001]

I got the tax form for what I owe on my house today. It states for 10k what I paid for that is just the governments assesment of the worth of the house. Compared to other houses around when we bought it, that was a good deal and is still consistant pretty much with the GOING RATE of houses in my area. Just because the government tax form says I pay this tax on the house because this is what they say it's worth, doesn't mean that is what the going rate for houses in the area are.

[cobmojo]

Whats with the title.

Obama is making efforts to help people live the. Via Tax's, mortgage help, possible universal health care.

This is much more than any republican could say.

[canibaal]

L2stereo

[jabberwolf]

So basically "refinance" mortgages because people made a BAD BET on housing prices... so basically SOCIALIZE GAMBLERS losses!

There is a difference between LOANING wallstreet money to make loans to responsible people rather than give money back to retards that think they should get money back for bad bets!

Screw you OBAMA!

[y2knoproblem]

How are these people responsible for falling home prices? How are they responsible for greedy wall street assholes? You republican animals will never get elected again.

[jabberwolf]

SIMPLE.. democrats allowed Fannie Mae and Freddy mac to go very low on their liquidity in order to provide loans to people that SHOULD NEVER have got them!

RETARDS that thought they were getting loans when they didnt deserve them LOST THEIR GAMBLE on houses that fell in value!!!

The "greedy" traders are the ones providing opportunity to those that fucked it!

You should really take an econ class.. at some education might help ya some. BS and talking shit doesnt!

[NinjaTech001]

And lets not forget ACORN

[FattKidd]

Acorn had nothing to do with this mess. It was Wall St. quit trying to blame poor people already. They don't make the rules, the fat-cats do.

[jabberwolf]

ok this I agree Acorn had nothing to do with it, but did help and lobby democrats to provide those very bad loans to "the underpriviledged" that probably didnt deserve them. Someone cheering in the crowd isnt to blame for the team.

I mean seriously do you actually know whats going on? Take an econ class? Or you just so fucking smart, you already know its just the "fat cats" and no one else to blame?!?!

Gotta love retarded people!

[FattKidd]

Ok, ACORN lobbied Congress to allow banks to give poor people interest only and ARM loans! OKAYEE! Get you head out of your ass! Why would anyone advoacting for the poor push loan programs intended to take advantage of the consumer? Don't be a dumbass. ACORN lobbied to STOP predatory lending practices and discrimination based on race, gender, etc. NOT to ease leveraging requirements, ARMs, interest only, NINJA, etc! Seriously, where DO you get your information!? Rush Limbaugh? Sean Hannity?

[jabberwolf]

ACORN lobbied to STOP predatory lending practices and discrimination based on race, gender, etc.

HAHA predatory klending IS allowing people to get loans they didnt deserve! ACORN was the one clamouring that people werent getting loans BECAUSE of their race.

OMG you your head so far up Obama's ass your giving him a french kiss!

[sshapewa]

you are one sorry son of a bitch.obama and liberals dont care a fuck about you,they want you t remain a victim asshole,liberals see you poor people as stupid and impossible creatures that can contribute to civilisations,real conservatives dont see victims,they see potential in everyperson,just because someone said i love you does not really mean they do

[FattKidd]

wrong. Fannie/Freddie fudged their books once they became quasi-private & conspired with the big lenders. there will be indictments. it had more to do with fraud than leverage with them. The other banks skirted their leverage requirements.

[jabberwolf]

No one fudged their boooks... its not like an Aurther Anderson thing.

in 2005 it was plain and simple no conspiracy needed.

THERE IS NO FRAUD - so please own up where you see it and not some conspiracy.

They simply had a certain amount of liquidity and were allowed to go very low in it, and endorsed very bad loans to people that did not deserve them.

They can't loan land, and because they have little cash on hand cant lend it - thus they call it a CREDIT CRUNCH.

so sorry kid, YOU AR WRONG!

[FattKidd]

Stop worrying about falling home prices/lost value. IF you're one to look @ your home & say, 'Man, my home went down 20% in value! I guess I'm just going to have to stop paying my note!' then you are an idiot & will only make problem worse. Your credit will be ruined for 9 yrs & you won't be able to buy another house. In 9 yrs your home could be back to it's original value or even more depending on market conditions but you won't be able to afford it. Pay your note & stop worrying about 'value'.

[y2knoproblem]

Don't worry about your home value???? They would not worry about it if they had a guaranteed job for life and wanted to stay in the same house for 30 years. Both of which is impossible. The treasury needs to wipe out the excess debt and charge it to the greedy wall street executives that are using my tax money to decorate their lavish, million dollar offices.

[sshapewa]

they are to blame you fucking asshole,if your job is to flip burgers,why in the world would you want a house you cant afford,the house prices are falling to their real value not the nominal value.this assholes should have given the chance to people who worked all their lives to buy houses on cash,yes fannie mae and the democrats instigated this and the republifucks just stood by,pul your head out of your ass,only self responsibilty will save us not bush or obama

[y2knoproblem]

You obviously have been brainwashed by the $400 million man, Rush Limbaugh. He uses you "useful idiots" so he can protect his wealth at your expense.

[sshapewa]

i dont give a fuck how much anyone makes,i believe if you made your money trading legally without using government's power than you can keep your wealth,but fucks like bush need to be strippd of stolen wealth!!no asshole,the rich dont pay taxes we do in form of high prices,more layoffs and offshoring to our foreign enemies!!you are an idiot.you think taxing exxon will somehow help you,exxon will fuck you with a higher price at the pump

[FattKidd]

These people probably put ZERO or max 3% down to buy this house & they're bitching about the value!?!? EXCUSE ME!? YOU are not losing ANYTHING because YOU didn't put anything into it!!! HELLO!? These people would make out like BANDITS if they sold for a loss. They could probably avoid paying income taxes for years if they sold at a $200K loss! They're coming out ahead here people! They'll get to keep tens of thousands in tax money! They got to live in a nice house for low rent too! Rediculous!

[wpiman]

Well, they owe $540 and bought it for $700.  Obviously they have some skin in the game.

[FattKidd]

depends on if they put money down & how much. If you buy a house for no or almost no money down, then are you really out anything if the value drops? Is the bank out anything? They never actually HAD the money to loan in the first place! Buying a home is not meant to be a get rich quick scheme. As I said, if they stayed in that house for 30yrs, most likely it'd worth more than $700k. (2-4%/yr appreciation is normal) These people are over-reacting.

[y2knoproblem]

shut the fuck up you ignorant pig. go suck Rush Bimbos fat hairy ass.

[tarfpir]

thank you for summing up exactly what i thought while watching this. i do not feel a bit sorry for these people, who still have a ginormous house.

[FattKidd]

People that were steered into Sub-Prime loans (66% of sub-prime borrowers actually qualified for prime) were victimized & should be able to refi @ whatever prime rate was at time they took out the loan. But, that's about it. IF you could ONLY afford that home at introductory teaser rate or paying interest only, then you do not qualify for a loan mod. Anyone/everyone who bought a home between 2001-2007 paid an inflated price/lost money. But, those who intend to live in their home will be ok.

[FattKidd]

These people are fucking retarded! 'We've made this house our home and like a lot of people out there, we may have to suddenly walk away.' WHY? IF this is your HOME then pay your fucking mortgage and LIVE IN YOUR FUCKING HOME! People need to quit worrying about home values. It's bullshit. Stay in your home and in 30 yrs when you pay it off, it'll be worth more than what you paid for it! DUH! If you have to move to change jobs then you sell it at a loss and take the write-off! FUCKING IDIOTS!

[webxsuccess]

I went to the KC Tea Party and wore my "Where's MY Bailout?!" t-shirt that I bought at WallStreetMarketNews(DOT)com!

I just ordered their "Rick Santelli 2012" t-shirt it's a limited edition!

Can't wait for the next Tea Party! lols

-=000-

[yipeelolo]

Personal responsibility! They should NEVER have taken out a loan for over 500,000 on a 700,000 house. What IDIOTS! Live within your means people!!! If you're stupid enough not to - then YOU take responsibility for your own actions.

[exweez]

20%down is not irresponsable

[njattack]

This is the homeowners problem. They are POOR business people.

The American people will NOT bail out idiots like these. They bite off more than they could chew. They now have to suffer the consequences.

[cvoc37]

Hey... the kid didn't look both ways!

[hotae333]

bankers and builders should pay for this

[minatorus]

American tv brainwashing + the people r dumb

the best way to fix the economy now would be to steal gold from other countries

[JD1010101110]

is negative equity too difficult a term to use?

[marcosso2007]

ohhh these hot californians... poor them.. it's so sad!!!!

[rocketcycles]

funny how the BO plan is really not going to help out as many people as it seemed. Nice how he explained that it would help people who were underwater 5% of their home value and no more. BO is going to screw us all, just wait.

[JD1010101110]

but then you can argue thats unfair to prudent people, who invested wisely and kept out of debt, didn't buy new cars, go on holidays, buy plasma tvs etc

[Underdog123]

seems unfair you can't afford to go You can't afford to stay and the Government and Private Sector is helping out I'm not blaming Obama for this all I'm saying Is this This is a "Catch 22" Here I say where and how we Move Forward in this Foreclosure Crisis so they they don't end up on the Streets that's what It sounds like to me.

[guillermo316]

Obama

the name said it all

[marcosso2007]

Loves it!

Loves CBS@

[everEbody]

Does anybody know what thegas4free.blogspot,com is that Obama has been talking about?

[anoceanbetween]

Look it up. Its pretty interesting. This guy can make a car run on 4 oz. of water

[forliberty76]

How is being underwater on a house different than loosing money on a speculative stock play in the stock market? These people bought a house assuming it would just go up, but when it goes down, they cry for help. This is no different than buying a stock assuming it goes up, and asking the gov. for help when it goes down. ridiculous

[SkylineTime]

I agree with you. But it still sucks. They seem like a nice family who is trying to do the best they can. Bottom line, they signed the mortgage and agreed to pay the money, they have to pay it. It really is a bad scenerio.

[Fragaunator]

Why buy a house.

It's much safer to just rent in the first place ;)

[marcosso2007]

hahaha

[CMK144]

jesus, why did so many people buy houses they cant afford....

Oh well it will be interesting to see how all this shit plays out.

[daguy1234]

We can't a;ways get wjat we ficlomg want. It's not because Obama isn't doing a good job. Bush though he was helping everyone, yet a ton of people were only hurt. You can't give everybody what they want. YOu can't rewrite everybody's loans. YOu can't just give up what they owe. You need plans. If you think every plan will help everyone, think again.

[VeneRican1]

dude its not about the president its about the government the president is just part of the puzzle that is "helping" our economy get back to "normal"

[daguy1234]

It's still part of the same thing.

But it's mostly their fault for buying a $750,000 house, paying off a few thousand, and then expecting it to go up in four years, sell it for a million, pay off what they owe, and buy a better house.

I don't know how much they paid for it, but I know a lot of people do that.

[VeneRican1]

yeah and all the fucking celebrities and athletes

[rocketcycles]

There's nothing wrong with investing in a home and capitalizing on the market.  Unfortunately this family's investment is not working out.

[daguy1234]

I know. But like I said earlier. He can't help fucking everyone. Like these people for example probably paid of a couple thousand dollars and then put the money down on the house $700,000, assuming they could sell it in a year for a million, pay off the what they owe, and then buy a better house.

I don't know and I'm not saying they did. That's what people ASSume, and then whine when it doesn't work out.

[toneo2001]

Bush? Sure blame it on Bush. When Bush and other Republicans warned of a problem Barney Frank said it was a safe investment and Chris Dodd called the Republicans "fear mongers" There is enough of blame to go around but its sad that so many people don't know that so many of the people involved in this are suppose to fix it!!! I'll tell you one thing, if it was a group of Republicans or one that were responsible for this mess, The dem controlled congress would already have a lynching mob....

[ficedude12]

Ya know, Bush's stimulus plan didn't help at all either. A lot of people bought TVs and Vehicles that were imported from China. So guess where the money went. TO CHINA. Stimulus plans help some, but they aren't the answer.

[fliegeroh]

I felt the same way, but I guess because its California, housing prices were so jacked out of shape and they got caught as the bubble burst. Hopefully, they can ride it out and not have to sell.

[arabrockerman]

I'm suppose to feel sorry for someone buying a 3/4 million dollar home people just blindly paid for these homes if the home wasn't worth half that ten years ago isn't that a FRIKEN HINT

[swankrecords]

Los Angeles waste land.

[hellavadeal]

When you think it can't get any worse , it does.

[slayerkendra]

osama obama wont help at all

[bleedingxxaurora]

Obama Binladen?

[Corbo905]

mad love kid