Analyzing Obama's Plan to Help Homeowners

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[912jumper]

My mortgage is more than my house is worth but I bought my house when I had a really good paying job and the economy was good. Then the recession hit and I lost my job. I tried and tried to get my loan modified even if for only 5 years. But no, the loan servicing company doesn't want to work with me. So I think I should just walk away and not worry about being a homeowner. It isn't what it was cracked up to be.

[nCorelli]

And isn't it just so wonderful how you "feel" bad for those people that are going to lose their homes. How terrible that a woman who made $10/hr was duped into purchasing something she couldn't afford. So instead of actually fixing the problem and teaching these people a lesson, what do we do? We continue to subsidize stupidity and reward these people for their greed.

Revolutionary. Right. You know what would be sadly revolutionary now? Telling people to earn what they want.

[nCorelli]

If Cenk Uygur could pull his nose out of Obama's ass for a minute he might (although unlikely) be able to witness the overwhelming hypocrisy in his statements. "instead of taking money from you.." Really Mr. Uygur? Where then does Mr. Obama get his money? From the sales of all the fantastic products the government produces? Oh I forgot, the US Government produces nothing, well, nothing of course except debt.

[base1aransas]

This man makes light of "Unintended Consequences" as the last few administrations have done.

It's time to return to the Founding Principles.

[Mplay1983]

LOL!!! a bit redundant and idiotic.

[m3plus2]

How comprehensive and well articulated.

[cthuluR7]

The Homeowner Affordability and Stability Plan Factsheet indicates the plan focuses on homeowners with a high combined mortgage debt to income ratio. So it selectively bails out people who made little money and accrued huge amounts of debt. The program forces lenders to reduce interest rates so monthly mortgage payments are no higher than 31% of the borrowers income. This will likely cause mortgage rates to skyrocket.

A conservative would call this 'redistribution of wealth'.

[skateboardergod7]

Here is a better idea than Obama's plan,

1. Legaliize Heimp ( or something like that)

2. Lower the taxes and so that more people has more money to spend, then they can go & spend their money

3. CHANGE the new taxes too other taxes

4. Give more money to the people to spend

[laurasIs2c]

Check out the local houseing that has been worth less than two hundred thousand, those people were taken advantage of through hidden increased payments never discussed before closing. Why should tax payers have to pay all the values of course not. How about the fact that the values of the housing markets were falsely increased and being that evesryone involved played along if some people wind up paying their mortgage great, for those whose homes were falsely valued let the payment be revalued

[bits010101]

interesting how after watching this video I look to the right and see an ad that says "do you regret voting for Obama? VOTE NOW"

I'd be more confident if I heard what selection process was going to be used. Anyone can make up a story to look like a victim. So I can't see this being divvied out fairly, sadly these efforts I've seen so far seam like band-aids on gushing wounds. This doesn't look like solid planning, it looks more like "lets throw stuff at the wall and see what sticks".