Delinquent Homeowners to Get Mortgage Aid from Obama Administration

reply to post by Section31


Your pre supposition is flawed.

Are you saying that these homeowners are lazy and looking for a handout?

That they don't work hard because the banks stole their equity?

Do a bit of research before you go calling homeowners 'whiners.'

Because they rolled their sleeves up enough to afford a house, and then watched as the wall street bandits sucked all their hard work out through some obscure back door bull [snip].

Originally posted by macman

Originally posted by jimnuggits
What a bunch of cold hearted, greedy, small minded simpletons.

You are actually complaining that some home owners, whose equity has evaporated through no fault of their own, are receiving some relief?

How's that old saying go? They came for the Jews, but I didn't say anything, because I'm not Jewish....
Obviously, you who complain are rich, or think you will be.

Some people are bound and determined to hate on every move this president makes. If he helps families, he's giving everyone welfare. If he doesn't help families, he's out of touch.

I can't believe people are complaining about this, of all the stupid mess our tax money goes to, I'm GLAD to see it helping out some real people for a change.

Nevermind the fact that we could solve all homelessness, put every family in a house AND every teenager in college if we'd stop making bombs and bomb delivery systems.

Get a grip, you grinches.

Ok, so homeowners underwater affect their payment how? Or ability to repay how? If that was the case, I think almost 90% of those that have a mortgage would not be able to make a payment.



This is more about people that just signed away on the dotted line for the house they could not afford.

Son, back before this modern day of lawyers and technical things there was this thing called fraud.

It was a principled matter, lawyers and politicians have work real hard to blur the lines of a concept as

old as time. You better get your priorities straight, you shouldn't be doing the work of the banks unless

you are a banker, fifty years ago your kind of talk would have been unheard of, I am not sure what is

wrong with the kids these days.

Originally posted by intrepid
reply to post by Section31

 

What you don't take into account is bureaucracy. I lost my house last year because I became disabled at work. The insurance company drug it's heels. Welfare on every level said it was the insurance companies responsibility and I couldn't take another job or the insurance would be invalid. The bank still wanted their money though. Bye bye housie. And family too if that matters.

Disability and elderly I can understand.

I'm talking about people who are delinquent because they are psychologically stuck in neutral. I am also talking about those who are capable of working, but they decide to sit on their buts all day. I am also talking about those unemployed who are holding out for 'the perfect' job; thus, they don't make an attempt to get some temporary work.

Why do I have to pay for a delinquent homeowner who has options?

Why does the right get soo bent out of shape about 'welfare moms', but don't bat an eye when Halliburton gets no bid contracts that they aren't even qualified to complete?

The money the US government gives to the 'lazy mother with five kids' is a drop in the proverbial bucket compared to what they give corporations in subsidies and tax breaks.

If you paid any taxes at all last year, you paid more than General Electric. You paid more than Halliburton. You paid more than IBM, and Apple. You paid more than your senator.

So, get off Letitia's back and put your anger where its deserved, mmkay pumpkin?

reply to post by jimnuggits


really why do they get so bent out of shape when noone from the left even utters a word about ge and being in bed with this current adminstration

the problem with welfare queens is that there was 33 million of the when obama took over now there is over 47 million americans.

if they are getting $200 a month check thats 9.4 billion per month which is 112 billion dollars per year.

so when people yell at welfare queens we have the right since that money comes from us.

and instead of producing income themselves they are taking income aways from the people who are producing in this country.

speaking for myself i will not get off their backs.


the constitution does say and its free for all to read that taxes must be uniform in this country no matter income,population, or location or source

So the problem you have is that more people should be starving in the streets?

I have no response to that.

Except to say: Ever heard of the French Revolution?

Originally posted by jimnuggits
Why does the right get soo bent out of shape about 'welfare moms', but don't bat an eye when Halliburton gets no bid contracts that they aren't even qualified to complete?

...and, why do people feel the need to place others into ill-informed categories?

*shrugs*

As I said in my first post, I am an 'undeclared' voter. When you call someone a right or left winger, you are practicing a form of discrimination. Even though I voted for Clinton and Bush, I did not suddenly become a loyalist.

My loyalty is 'to the republic in which it stands'.

Originally posted by jimnuggits
reply to post by macman

 

I read your response and trust me when I say the only comment I feel comfortable making here is:

Huh?

So, your saying the there is no oversight to this 'Housing Welfare,' and the Government is just giving all homeowners, who are underwater, money with no rhyme or reason?

Cool.

Huh? back at you.

These programs are not for those paying mortgages that are underwater, as that is currently about 80% of the families in the US. Maybe more, maybe less.

These programs are for those that signed for the 5 year interest only mortgage.
They signed the paperwork. They should have understood what they were signing.
Instead they got lost with the BS served on a silver platter that all need a home, and failed to either understand or read the contract they were signing.

Sorry, but if you signed a contract, not knowing what it was, that is not the fault of others, but your own.

If you didn't bother to read, then see the above.

If you understood it, signed anyway thinking you would either flip the house or refinance, then see the above.

reply to post by Section31


I've not put You into any category, ill informed or otherwise.
I have no interest in making this a personal attack. The facts are the facts. Whom you choose to support is your own business...

silly me i forgot to add $2 trillion dollars more

and its a given we are paying for the homes and the medicaid.

still footed by those of us who work.

when people stop knowing the value of the dollar this country exists.

when people stop knowing where that income comes from this country exists.

this nation can not survive its status quo mentality

hard choices need and have to be made

alot of people will thinks its cold hearted.

but do we all go down because of it.

Originally posted by neo96
still footed by those of us who work.

Can you please show us exactly what your personal share is?
No guessing allowed. Only solid numbers.

reply to post by neo96


I notice you are at ease with describing what you dont like. Who is it that you DO support. What specific platforms DO you support? I've followed a lot of your posts for quite a while and you NEVER seem to be FOR anything.

I point this out because I notice this tendency to only be AGAINST tends to make threads very unproductive. This thread, for example. What a bunch of pissing back and forth. It's a tactic.

What are you for?

Originally posted by Kitilani

Originally posted by neo96
still footed by those of us who work.

Can you please show us exactly what your personal share is?
No guessing allowed. Only solid numbers.

It's a false premise at the start. His statement implies that somehow HE is the only one who works. It's a false dichotomy employed by the far right to imply THEY are the only ones whose opinions matters. That's why they like to refer to themselves as the 'adults'. It's a way of degrading the potential of the conversation into false precepts.

reply to post by jimnuggits


Thank you! Thank you!

There are only a couple of you on this thread who actually understand what's going on in this situation-- but hopefully the others will see.

I am a independent legal researcher with over 25 years of experience in precisely this sort of thing. A lot of people got duped by the official government/media spin on this situation and have fallen conveniently into the "blame the guy down the street" instead of the REAL problem. It's divide and conquer, keep us all divided and pointing the fingers at each other.... I was horrified at how fast the epithets took hold of the public imagination in this so-called "bank crisis" Everyone loved to say "liar loan, liar loan..." rather rolls off the tongue, doesn't it? You hit the nail right on the head- this is precisely the propaganda technique that has served fascist tyrannies so well for so long.

The hard fact of the matter is that this was not a case of deadbeats who don't deserve to own a home or stupid people who don't understand what an adjustable rate is, it's a coverup for a very serious fraud that the banking industry has perpetrated on not only the American people, but the whole world.

The banks bundled mortgages into massive pools and sold weird derivitive interests to investors. "Ratings" are an inherently arbitrary thing- no matter how secure someone's salaried job may appear, they could go into a slide same as anybody else. Many of the borrowers on the "low doc/no doc mortgages" were simply small business owners who don't have the payroll stubs the usual drones of loan officers require. Well, the "ratings" were made on the sales pitch to the investors, the banks overinsured the pools, and then blew the system up. so that they could collect TARP money, insurance payouts, bankruptcy protection, etc. etc. etc. And foreclose on the property and collect any equity the borrower might have had left too! The banks have profited from this entire scheme in multiple ways- the idea that they lost money and got screwed by homeowners is a myth and a lie.

The banks crashed the economy and then blamed the homeowners who suffered as a result. The banks were deemed "too big to fail" but not held in any way accountable for the damage they themselves caused. The vast majority of homeowners who have fallen delinquent over the past two years were perfectly able to keep up with the mortgage payments UNTIL THE BANKS DELIBERATELY CRASHED THE ECONOMY! The media spin was designed to get the American people do blame the homowners, see them as subhuman and not worthy of any basic rights, including the right to their day in court. And this smear campaign has been enormously successful, hasn't it? Even the people here at ATS (who ought to be more critically-minded than the average citizen) have been thoroughly manipulated.

And furthermore, the chief problem right now is one that the Obama administration has been extremely disingenous about. The "servicing" companies for the mortgage companies have deliberately forced many loans into deliquent status illegally, by misposting or refusing to post payments, adding unjustifiable charges on to accounts. Why would they do this? Because, if your mortgage got into one of those pools, you're slated for extermination. The bank has already declared the pool toxic, collected TARP, written it off in taxes, collected insurance, etc. and now it just has to clean up the final matter of liquidating the rest of the mortgages in the pool.

The servicing companies do not make money from performing loans- they are hit men hired to liquidate the pool. The only "help" the Obama administration has given to the situation has been lip service. The modification "help" was entirely disingenous in both its design and its implementation.

What this situation needs is enforcement of the laws- allow and encourage the homeowners to collect against the banks directly under existing consumer protection laws. The federal government should also bring back the anti trust laws and prosecute the banks under RICO - there are clear predicates.

Please, please, good people of ATS, don't fall for the tactic of blaming your neighbors for this situation. If you're interesting in seeing what is actually going on, there are some excellent websites- one of the best is called msfraud.

Check it out. And thank you again to you and to all the people on this thread who do understand.

Originally posted by neo96
still footed by those of us who work.

I worked. 2 jobs 7 days a week for 5 years. Then something happens and you find yourself in a Catch 22 situation and BOOM, everything gone. I hope you never end up in a situation like that. Sometimes even the stable need help.

reply to post by incrediblelousminds


I know that. You know that. I am not sure if he knows that. I think he actually believes a huge chunk of his paycheck is going to support stupid, lazy, poor people. He seems really upset about all the hard work he is doing to support these people so I would like to see him produce the numbers and continue to stand by his whining after that.

Before we move this conversation further, I want to address the Democrat and Republican stereotyping and labeling.

Pledge of the Allegiance
"I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all."

Does anyone know what that means? If you are aligning yourself with a political party, you are breaking your loyalty to your country. Since the Republican and Democrat party believe in division, based upon labeling and social organization, they are directly violating their pledge to this country.

We are a republic (lowercase 'r') in which uses a democratic (lowercase 'd') form of government.

My loyalty and allegiance 'is to the republic in which this country stands'. Regardless about my personal belief system, I will not declare absolute loyalty to a specific political group.

Period.

reply to post by intrepid


dude i am sorry

but crap can happen anytime anywhere

most people do not plan or prepare or save for the worst case scenario

thats why too many people get the rug pulled out from underneath their feets.


myself i carry 0 liabilites for cases just like those.

it sucks i know it does.

Originally posted by neo96
reply to post by jimnuggits

 

really why do they get so bent out of shape when noone from the left even utters a word about ge and being in bed with this current adminstration

Why is it that you make claims like that that arent true? Bold faced lies.

www.mercurynews.com...

theglobalreport.org...

motherjones.com...

reply to post by neo96


My point is that the strength of a society is based upon its ability to take care of the weakest and poorest among it.

If we were to do things your way, we'd allow the poor to starve.
We'd allow the hurtand injured to die painfully.
We'd sit by and watch as our elderly citizens beg for mercy.

Truth is, that isn't the kind of society I want to live in.