I have an issue with the foreclosure relief.

[Hepburn]

How about those people whose homes already forclosed because of the preditory banking practices? You know ~~ the ones already out on the street. How are they being helped?

I hope that ALL who were adversely hit by the banking industry get relief. Some have held on and others could not. I hope this help is not just for those who are still in their homes and facing problems, but that the aid is for EVERYONE who was harmed.

Somehow, it does not seem fair that govt money would only be spent on some and not on others who were victims of these rotten preditors. And, yes, some did get in over their heads...but that is IMO not a reason divide the help by whether or not someone is or is not still in his/her/their home. That does not seem fair in some respects to me.

This whole thing of homeless people while corporate CEO whores rake in millions in salaries, benefits and bonuses ~~ this makes me sick, sad and angry.

JMHO....:cry: Gawd, this mess really bothers me.

[krabigirl]

1. Well, would it be better if no one was helped? But I agree, help those on the street!

[RUMMYisFROSTED]

3. First come, first served.

Oh, wait...

[Hepburn]

4. Yeah, tough call....

...help all or those who still stand a chance.

Boy, this is upsetting and it just seems so unfair that someone hurt a month ago and lost a home gets no help while someone who gets foreclosed next week could get help.

I guess the line has to be drawn somewhere...but I wish is was based on what lending institutions were the most evil.

I say start with BofA and Chase.

Still very, very sad to me...:cry:

[snappyturtle]

2. K&R I agree whole heartedly!!! This mess makes me very sad and what

REALLY gets me going is that it seems to me, no one is investigating these thieves, other than Madoff. I'm not happy with this plan at all. imho

[Hepburn]

5. I totally agree....

...when I think of those CEO corporate banking whores getting fucking MILLIONS...and families on the streets that are and were their victims...I see RED!!!!!!

:grr:

[bain_sidhe]

6. A form of triage, I think. First, stop the bleeding.

Keep things from getting worse (more people being forclosed on), then go back and fix the wounds, if you can.

[Hepburn]

8. I like that idea....

...and maybe there could be some provision for this. Yes, stop the bleeding IMMEDIATELY...and then deal with others who were injured.

Great idea!!! :hi:

[louis-t]

7. Heard second hand that Rush Stupid was whining today.

"What about the people who pay their mortgage on time? Why should only the ones who are in trouble get relief?" OK, dumbass, here's the story. People who are in good standing with their mortgage WILL benefit from the stim bill. Every person in this country who owns Real Estate INCLUDING Rush the Stupid is LOSING MONEY ON THEIR HOME AS WE SPEAK. The ONLY way home values will go up is if the current crop of foreclosures comes off the market(meaning they sell) and a new, massive wave of foreclosures is prevented from getting ON the market. Prices on foreclosures are so low that anyone with money is buying them up. That's only half the battle. But we know that Rush the Stupid has only one interest; Keeping his listeners angry at liberals, people of color, Dems, anyone with a brain, etc.

[Hepburn]

9. IMO, excellent points in rebuttat to El Rushbo....

....yes, ALL property values are harmed when there is a glut of cheap real estate on the market due to the horendous numbers of foreclosures.

[blondeatlast]

16. Exactly, lt. I bought in 06 with a traditional fixed rate and big down payment.

I've lost my equity already and the bleeding contimues. The homes in my neighborhood yet to be foreclosed on (many from walk-aways) aren't helping my financial standing any.

I'd be better off if the 2 foreclosed homes on my block were occupied even if the mortgages aren't being paid on; at least the families would have shelter and the maintenance would be kept up.

[louis-t]

20. I bought same year, 40% down, equity now gone.

Rush just likes seeing people fail. That's why he's the head of the repug party.

[TexasObserver]

10. Relief has to be done in steps. It cannot happen all at once.

Anything that will stop foreclosures will also have a huge price tag. It will have to get passed in both houses of congress. It won't stop all foreclosures, but it will give marginal debtors a better chance to hang onto their real esate.

Doing something about the practices that have already produced many foreclosures is not going to be a priority, because it has already happened. It will be an item for future regulation, but there won't likely be a remedy unless the government goes after those predatory lenders for fines to be divided among the class of aggrieved debtors.

[Hepburn]

12. It just GETS to me....

....those bastards with millions and families with children, the elderly, the ill, etc., on the streets.

:cry:

[TexasObserver]

18. yeah, me too!

[JDPriestly]

11. There is a lot of money for the homeless in the stimulus that was

already passed. I'm sure there will be lots more.

[Hepburn]

15. I hope so....

...I really, truly hope so. Food, shelter and clothing. So basic and in a country as rich as ours, IMO, no one should be without this.

:hi:

[Mike 03]

13. Should he do nothing at all, because some good people got screwed?

It's not good news that anyone has lost his or her home, but that's not a reasonable rationale for terminating this program.

Maybe there are alternative solutions for people who are in the jam you are describing. But this program released today is not about that.

"Let's harm everyone because we can't save everyone."

[Hepburn]

14. No, that is not the point....

...I just feel HORRIBLE about homeless people and this is really bothering me that there are people living in cars and on the streets.

I just hate this....really hate this. I guess the recent hard rains in SoCal got to me. I went to LA the other day and there are huddle, soaking wet groups of people. I gave away the $30 I had with me at the McDonald's where was an old man I recognized who lived across the street from the McDonald's in the Rite Aid store parking lot in his car. The car had plastic taped to it because the old sun roof of the Lincoln leaked. The man was soaking wet. I got in my nice, dry car and cried my fucking eyes out.

:cry:

This homelessness issue really, really gets to me.

[SoCalDem]

17. Bail out money to municipalities to BUY UP foreclosed properties

and turn them into "low income" housing..permanently.. That takes a shitload of "cheap houses" off the market, and stops the death-spiral of property values, AND it's cheaper to do that than to BUILD low income housing..

Chandler Arizona is actually doing this..

This disaster could have a silver lining..

That said, property values were terrifically OVER inflated and needed to come down, but in many places they are pretty much "there" now..
For the ones stuck in upside-down mortgages (as we have been in past years during our 35 years of owning homes), the ones who truly qualify should be helped in lowering interest rates, lengthening the "years" of their mortgage (most people don't stay in their houses for more than 10 years anyway), and after a few years, things should settle down..

[WVRICK13]

19. A One Front Attack Will Not End The War

for those already without a home. The Government needs to establish regulations that keep credit scores in tact for people who are already victims of our economy. If they did this, in conjunction with better mortgage programs then the people who lost their homes, but still have a job, can buy a new home at a much lower price than the one they may have lost. This would take the surplus off the market, stabilize the prices of real estate, and help stabilize the building trades. Just a thought. When I think of the multiplier effect it is winning situation.

[stillcool]

21. As a result of their own actions..

the ones left holding the bag on all the foreclosed homes..the banks.. should take the fall. They sell the same property again, and with the amount of job cuts, won't the same thing happen? And then what, we do it all over again?