Delinquent Homeowners to Get Mortgage Aid from Obama Administration

Link: Delinquent Homeowners to Get Mortgage Aid from Obama Administration

The Obama administration wants to help more struggling Americans stay in their homes by reducing the amount they owe on their troubled mortgages, a top Treasury official said Saturday.

"We are very definitely trying to facilitate more principal reductions," said Timothy Massad, Treasury's acting assistant secretary for financial stability. "It is a very important piece of the overall solution," he said.

The administration is trying through taxpayer-funded programs to prevent homeowners from losing their homes. Nearly $50 billion has been set aside from the $700 billion bank bailout known as the Troubled Asset Relief Program, or TARP, to help distressed homeowners.

If you follow the rules and pay your bills, your taxes will go up to pay for those who cannot.

We are screwed as a nation.

Obama is bailing out delinquent home owners with taxpayer money.



Vote for me and I will set you free!!!



Hope, Change, and Mental Breakdown!

reply to post by Section31


yeah! screw those people! They should be out on their butts in the cold!

Originally posted by incrediblelousminds
reply to post by Section31

 

yeah! screw those people! They should be out on their butts in the cold!

Entitlement for the delinquent!

What the hell is wrong with our president!

He is dumber than George Bush Jr.!



Do you know how to get a crap load of Democrats to vote Republican? You take their hardworking cash, and then you give it to someone who thinks they are entitled to free stuff.

reply to post by Section31


Yeah, see, I was being sarcastic. Since I've been hearing people asking for EXACTLY THIS sort of legislation for two plus years now.

Originally posted by incrediblelousminds
reply to post by Section31

 

Yeah, see, I was being sarcastic. Since I've been hearing people asking for EXACTLY THIS sort of legislation for two plus years now.

Sorry man.

I'm just mentally cracking up from this news.

This crap is wrong on so many levels.

Didn't we just have a bailout that was supposed to ameliorate this condition? NOW he wants to give money to people to keep them in their homes...I seem to remember this was discussed before... Guess those good-hearted banksters reneged on the deal... what a surprise!

And most people will think he is just stupid...not outright evil...

Wow so you must still have great equity in your home???? Well I dont... I bought my house for $165,000... 2 years later
it started its downward spiral...now it is worth $112,000 and cant even sell it for that.....SO......the Obama plan is to make banks reduce the principle owed so people like me can start to gain equity on our homes.. thus in theory making the economy better.......BUT!!!!!......I think the banks should take the equity loss not the taxpayers, because they ,the banks , artifically inflated the housing market......I think this is all part of the plan to reset the economy so as to start over to show growth....IMO...

Originally posted by Infrasilent
Didn't we just have a bailout that was supposed to ameliorate this condition? NOW he wants to give money to people to keep them in their homes...I seem to remember this was discussed before... Guess those good-hearted banksters reneged on the deal... what a surprise!

And most people will think he is just stupid...not outright evil...

He is most likely buying the vote from 600,000 delinquent home owners.

Second, you are 100% in your attention to detail. We just bailed out the banks rather recently, and we threw money down on foreclosures.

I think this is bailout number five? six?

How about both evil and stupid?

sure why not

its not like i am not paying for my home hell make me pay for someone elses

hell its not my money anymore.

dont worry about were i willl live we how i am going to put gas in my car or food is put on my table

i dont matter

some slug matters more and is entitled to what i earn.

i think i am just going to quit and go on welfare and take the money that is earned from the blood and sweat and tears of others.

sure why the hell not.

Originally posted by neo96
i think i am just going to quit and go on welfare and take the money that is earned from the blood and sweat and tears of others.

sure why the hell not.

No crap. Why bother trying when someone will just give you the money?

Did we enter into some type of alternate reality?

I cnt believe the government wants to help people. This is UNHEARD of and UNCONSTITUTIOANL. It's going to take money away from haliburton and Afghanistan!

reply to post by Section31


yeah we did

the world went stupid in 2008 when they elected obama ok sooner than that .


i got a new bumper sticker on my car " the world has gone stupid and its getting more stupid by the day"

Is not a deliquent home owner's home considered a troubled asset?

Why not just drop all the TARP monies out of a plane and let the fittest individuals come away with it. Darwin would be proud

reply to post by spinalremain


works for me drop the money out of the plane and let everyone else do all the work

and then just rob them,

altho thats what our government does which is legal

Originally posted by neo96


i think i am just going to quit and go on welfare and take the money that is earned from the blood and sweat and tears of others.

.

I HIGHLY encourage you to do this. It might wake you up to the reality of welfare and not the fantasy you continue to perpetuate.

reply to post by neo96


Well think of it like this.

If TARP is in effect and they're collecting 700 billion; would it not be better for a small percentage go to help an unemployed homeowner, rather than all of it go to bail out the bank?

I don't like the idea of TARP to begin with, but if you're going to have taxpayer monies bail out the banks, you may as well have a portion helping out the folks who the banks led astray in the first place.

reply to post by Section31


Too little.
Too late.
And if history is any indicator the money will go to the wrong people anyway.
I see a public show and nothing more.

I have a solution.

Once we discover the means for efficient space travel, we re-enact what Christopher Columbus did in the past. As the 50% who pay taxes leave the 50% who don't behind, we setup new military defenses on a new home world. When those 50% slackers finally get off their duff to find us, we blow them out of the sky before they touchdown.

reply to post by incrediblelousminds


what i shame i dont do requests.

the fantasy is welfare and i couldnt live with myself knowing that the only reason that check comes is the fact that is stolen from someone else just trying to make it destroying other people because some idiots morality trumps property rights in this country.

Originally posted by Section31
I have a solution.

Once we discover the means for efficient space travel, we re-enact what Christopher Columbus did in the past. As the 50% who pay taxes leave the 50% who don't behind, we setup new military defenses on a new home world. When those 50% finally get off their duff to find us, we blow them out of the sky before they touch down.

I see the problem you are having now. It's that you believe only half the population pays taxes. I suspect you are also misguided in your understanding of WHO it is who pays taxes at all.