Big problem for who?
Help from who?
I don't get how a society can help it's own economy by internal donations.....
I'm not an expert, but that doesn't seem logical in any way. The mone yhas to come from somewhere.

Is it my fault they cant make thier payments? Should my tax dollars go to that? If we got extra, I'd rather spend it on supplies, equipment and technology to keep our men and women alive during our war! Thats a worth while investment.
Donating to keep businesses in business and other peoples bills paid is not my job. If we do that you will see our economy crash big time. 90% of us would be in poverty in 20 years, and would take 100+ years to recover.

Alternatly, let the chips fall, people lose thier houses, business go out of business, we continue to suffer through the war, then when the war is over, the economy grows and we are back to normal in 20 years.

 

The housing market isnt in trouble.


Most of these loans that are getting foreclosed on belong to low income people who couldnt afford it, or people with bad credit who never should have been aproved in the first place.


Its the mortgage lenders who made the mistake and its the mortgage lenders that are going to pay the price.


You cant bail out the entire country....

 

I don't believe the ppl who bought houses they couldn't afford deserve to be bailed out... they were living beyond their means because they were provided those means by companies who at the time showed them a way.

I don't believe the companies / real estate investors who afforded ppl to live beyond their means deserve to be bailed out either because they gave thousands of families a false sense of security.

Either way it sucks. A lot of ppl are going to get screwed, whether it be their fault or the mortgage companies' fault. The housing market sucks, our economy sucks, our government sucks.

I have ppl all the time asking how I can afford a $300k house w/an acre of property, on top of buying a new truck, installing a pool, $3k shed, new windows and planning a (as of right now) $5k vaca in the spring, and all my other toys... I call it planning and budgeting. Oh yeah, I also attribute it to the fact that I do not live beyond my means. I wouldn't be doing all this within the last year if I couldn't afford it.

Depression here we come!

 

If these clowns want to blow money, why dont they try fixing some thing that we will all benefit from?


Like social security.


Why do they insist on spending all this money only to help the irresponsible?

 

It still seems to amaze me how some people can support Bush. The man is a complete moron who in 8 years ran this country into an almost depression state. Our so called government sends billions to fix Iraq, for what? That makes sense, lets blow up their ****ty buildings and then build them a state of the art cities to make up for it. Its time this government start worrying about their own people. Where is it Bush's right to say other countries cant do things and try to govern them? He can even govern his own country for ****.

The mortgage bail out is a good idea on paper, but their are people that may deserve it and others that dont. Anybody who bought a house on a adjustable rate or a interest only loan dug their own grave and should not be given any help. What about the people that lost their businesses or jobs because of the slowing in home construction? Everyone whom has their panties in a bunch over this, needs to relax. Its just another one of those promised plans to get votes. Like i said it looks good on paper, and for the voting numbers.

 

But you can't say one deserves and the other doesn't. That's discrimination, and you'll have lawsuits.

 

A video on MSN told the story of a young couple's stuggle in this situation (couldn't find the link).

It presented them as helpless victims, the story goes:

They look at an overpriced house way out of thier budget, then are shown a similar one at their (what I would think is) their max price point. They think it is a steal so they go for it. At closing a "mistake" is pointed out increasing the Monthly payment by $300. They are informed but sign anyway (I think most of us would have walked out by that point). Over time this $300 breaks them finacially. Again they are presented as sad victims. (I'll try again to find the link).

At anyrate The lender and buyer are both at fault and deserve whatever happens to them.

This couple couldn't afford the new payment of $1600, meaning they were qualified for a $1300 mortgage. If a $300 increase in your monthly bills is going to wipe you out, they should never have been offered or been stupid enough to accept a loan of $1300 a Month.

I don't see them as victims. Stupid is more like it.

 

I'm not going to quote anyone because more than one person quoted my post but you misunderstood what I was trying to say. I don't agree with giving people money at all. I completely agree with you guys, thats just stupid. However you're talking about how the housing market isn't in trouble!? Are you kidding me? I don't know about other market places only Florida. Do some research about our market and than come back here and post. .

PS: I'll rephrase my previous post a little. . "Florida's housing market is in real trouble!"

 

Thats not really the "idea" of why we are over there.
But yea, thats how it has always been. The best thing any country can do to help themselfs out, is start a war with us.
After we destroy them, we always build them back better than before plus give them alot of money. The only 2 wars that has not work has been the civil war and our independance. We wouldn't be in 1/2 the god dang wars if we didnt do that, for most, that was thier entire agenda, they didnt want war with us, they wanted to help thier economy. No one else does this, so there is no one that we can pick a war with to help ourselfs. It's teh stupidest thing ever IMO. Only encourages people to start war with us. Why give them an incenative?


I haven't read it, I'm pretty suave in marketing, but I cant even begin to phathom how even I could market it in any way and even with severely twisting it, still couldn't make it appear like a good idea.

I don't think anyone deserves it, it's called economy. You and I are the ones that control the economy, the goverment has no say, no power, and no way to control it what so ever. The only thing they can do is try to "influence it" by encouraging us as consumers to feel safe enough to buy. Thats what they did with mortgages to begin with, and now look. Now they are seeing that maybe it wqasnt safe, but since they said it was they are wanting to cover it. Double edged sword, that will cut us all.

We can pass currency around to each other all that we want, but if we don't have more coming in than going out, then it isn't going to matter. It's down right silly. THAT... is the root of our economic problems both as a country and some individules and busineess alike.

It's like saying, I'll give you $50K but it can not leave your house... What good is it to you then? You can hand it around to your family members, but otherwise that $50K is worthless to you. That is the same thing that we are trying to do.

We need a plan to bring more wealth into the country. I'm not talking bills, bills are wothless, we need more of the stuff that backs paper and makes it worth something.

 

Link to topic, hope it works

http://www.msnbc.msn.com/id/20534597/

 

Exactly... everyone wants PRECISION ACCURACY and the RIGHT ANSWER for everything... not to mention everyone wants EVERYTHING, johnny on the spot... basically they wanted it yesterday. It's digusting how this world is.

 

Here's an idea... the housing market is bloated and prices have climbed out of reach. Let people eat it, and ***** get foreclosed and in due time the market should return to some form of affordable normalcy. If not, we bail them out and keep the prices jacked and keep living beyond our means.

Great idea!

 

I love that clip rmills posted


They fell behind the 3rd month after they moved in and now they are pissed because the bank wont accept partial payments..




If $300 a month whipes them out in 2 months, they never should have financed that amount.



ThumperMX113, I know that home values are dropping in Florida. But if you check you will find that the values are still above what they were 5 years ago.

My research ---> http://articles.moneycentral.msn.com...iceReport.aspx

So all that means is that it will take you a little longer to build up equity. Peoples payments didnt go up because of it, so it shouldnt cause any one to lose their homes.


Now if people are in danger of losing their homes and want to sell, it does leave them boned.

How ever, that should only be a problem if they purchased their homes in the last few years. Any one who bought a house 6 or 7 years ago wont have a problem.


But why would any one who bought a house 3 years ago be at risk of losing their homes so soon?

Short of some personal financial disaster, its probably because they financed a payment they cant make.

The housing market isnt in trouble, people who financed mortgages they couldnt afford are in trouble.

 

unless i misunderstood that clip.. what i heard was that they thought they were getting something they knew they could afford, but as soon as they signed for it, it got changed and they couldnt undo it and got stuck paying for more than they could afford...

 

It doesnt get changed after they sign for it......



Look, when you get a loan approval they give you a "good faith" estimate of what every thing will cost you. It includes insurance, taxes, ect.


Now I could beleive that the "Good faith" estimate was $300 off, but you know what the exact payment will be when you sign on the dotted line.


My guess is that they were so excited {and probably already gave notice to their landlord} they just figured "Fug it, we can afford an extra $300."

So then they signed for it.


Seriously, if they cant afford an extra $300 they are in huge trouble.

What happens when insurance or taxes go up?


What happens when they need a new roof or the A/C goes out?


They never should have bought a house that expensive because they cant afford it, and their mortgage lender should have been smart enough to figure it out.


None of them deserve to get bailed out.