Comments on: FHA Secure – Part of the Foreclosure Bailout of 2007

By: JosephClimber

JosephClimber — Fri, 11 Sep 2009 15:16:12 +0000

I guess I missed the melody in the organisation where every Ground has a ethical to own a big house ??? If I over sit myself no one is going to recognisance me out, I worsen my house and move into an housing, aforesaid as if I piddle dumb decisions in the hold industry and creditors amount after me. We all are faced with business decisions of all kinds every day, if we straighten a fault, cured we won’t do that again.

The job with these programs is they trauma practice group who eff been opportune with their money. Postulate a descent that is protection every coin to get into a new home, they are doing the tract target yet they get penalised by things similar this. If inferior group alternative because us taxpayers are exploit to place their loans and are achievement to train the assay of them defaulting, recovered prices, we instead support up the market and urinate it that overmuch harder for tough employed people to give the home they merit.

By: Sarah

Sarah — Thu, 06 Dec 2007 19:16:13 +0000

I have to say guys, I agree with Steve. I really think this foreclosure bailout thing is so major because when people think about foreclosure they think about families losing their homes…but they do not really think about how that situation arose in the first place. I’m a social worker, if anything I’m in favor of helping families, but sometimes people do stupid things like buy houses they can’t afford and get loans from someone whom they’ve never met and they don’t understand the contract. An important part of our economy is that when you screw up, there are negative consequences. If we take that away by bailing everyone out, we’ve taken away the consequence as well as the full effect of learning what NOT to do next time. Just my thoughts…great site by the way! Yeah!

By: Steve

Steve — Wed, 05 Dec 2007 03:58:21 +0000

I guess I missed the part in the constitution where every American has a right to own a big house ??? If I over extend myself no one is going to bail me out, I lose my house and move into an apartment, same as if I make dumb decisions in the stock market and creditors come after me. We all are faced with financial decisions of all kinds every day, if we make a mistake, well we won’t do that again.

The problem with these programs is they hurt normal people who have been good with their money. Take a family that is saving every penny to get into a new home, they are doing the right thing yet they get punished by things like this. If less people default because us taxpayers are going to back their loans and are going to take the risk of them defaulting, well what does that do ? It artificially props up the housing market. Instead of getting the much needed correction in housing prices, we instead prop up the market and make it that much harder for hard working people to afford the home they deserve.

By: John

John — Tue, 02 Oct 2007 20:29:08 +0000

I agree with you that we need to take care of each other and educate each other. Without a doubt, the mortgage industry dropped the ball over the past several years with its general poor policing of itself. Even the government dropped the ball by basically allowing mortgage professionals to operate without oversight.

As it applies to homeowners who are losing their homes because of some unforeseen event, like illness or job loss, etc..I really think a lot of those people deserve help. My issue is with taxpayers having to bail out people who are in the situation their in for no other reason than just a dumb mistake (like buying a house they couldn’t afford in the first place).

Listen, right after I got out of college I bought a mattress with no payments and no interest for a year. I thought, “great, I don’t have to pay for this thing for a year!” At the end of the year, they took all the interest for the previous year that I was under the impression I wouldn’t have to pay and tacked it onto the principal; that was $650 by the way, which was a LOT of money at the time. At the time I was fuming because I felt like I got scammed. But you know what? I’ll never buy another thing with no interest and no payments for a year again for the rest of my life. I learned my lesson.

Now, the magnitude of my mattress story is nothing when compared to a homeowner losing his/her house, but the fact is, in both situations, each of us made a huge mistake, and ultimately, we both got into the situations we were in because we were acting, at least a little bit, out of greed.

Foreclosure is a an awful thing to go through I’m sure, but as a country, we simply can’t afford to pay for every tough situation Americans get themselves into.

By: Mark

Mark — Mon, 01 Oct 2007 15:29:05 +0000

Why should the American taxpayers pay for it? Hmm, let me think… Because we listen to Truthful Lending Dot Com?

Reality is this, the government owns only 25 percent of the entire USA, the rest of the land is in private ownership like ahem, you and me.

If we are not going to take the responsibility to take care of each other, to educate each other, then ahem, your tax dollars and mine will have to clean up our own mess.

What do you think?