Relief Starts to Trickle to Troubled Homeowners

If it were you

Sure you proud talkers who say they dont want or wouldnt even take a hand out. HAHAHA. If you were me (recently injured at work, yes WORK on my 18th hour of WORK, Now for the 6th MONTH my family of 4 has eaten kidney beans , peanut butter and plain rice and plain pasta once per day, getting forclosed on, struck by 2 other medical emergencies to other members of family, no health insurance, no outside family support, the engine on my 1990 dodge just died., we gave away our beloved dog) i've been working 40-80 hours per week since i was 16 years old when my parents died. dont i have any reason to take just a small crumb, after all my taxes paid 700billion dollar bail out. Why dont you just shut up and be greatful for what you have.

Jon of CT @ Nov 15, 2008 07:06:00 AM

I want a bailout!!

I guess since I have paid my mortgage on time and played by the rules, I am out of luck! Maybe I'll just stop paying, I want a bailout too!

Andrew of CA @ Nov 14, 2008 13:11:52 PM

The "conservative" homeowners need a break commensurate with what we give to those who are behind and those who paid too much.

If you don't do this, you'll get Sarah Palin next time.

of @ Nov 14, 2008 12:59:58 PM

come on people...

I agree 100%. In my situation the co-borrower of my mortgage is no longer in the picture, but I do not expect other people to pay for my personal issues. I work full time and live paycheck to paycheck. So what if I don’t have a cell phone, cable, or the highest speed of internet? If something happens and I lose my job, I will get another one, rent my house out, sell my things, or do whatever I can to pay my bills. I believe we live in a nation where people give up when life gets tough or some people just expect handouts. This is ridiculous!

amy of FL @ Nov 13, 2008 20:00:28 PM

lower home values

AND, what about home values which are now 1/2 of what they were two years ago? Does anyone think there will be some type of relief in the form of lower interest rate or lowered principal (subsidized by a government bailout)? Our county tax assessor is in the process of lowering property taxes for our de valued homes by doing price comparisons.

stephen of CA @ Nov 13, 2008 14:13:32 PM

Welcoming help

I sympathize with Scott of AZ, but the woman I live with and I would have been able to cope with our mortgage had the Bush Economic Miracle (BEM(tm)) not gotten me laid off twice and now it looks like I'll be laid off and on the street again in January.

Our mortgage is now worth more than the house right now, and we are expecting the interest rate to reset next June, but that would be ok if our incomes could stabilize at a reasonable level. I have more skills and experience than ever before in my life and potential employers are asking me to take a pay cut.

We might be able to hold out another year if we can't get refinancing. We could with high probability continue making payments indefinitely at the current level -- I'll probably have another job within six months or a year, and we have sufficient financial robustness to weather that sort of thing. But the rate reset will increase the monthly payment owing substantially. We will welcome mortgage assistance. Otherwise, we foresee a day when we throw the keys at the bank and walk away.

If AIG, big banks and big auto companies can get federal assistance in guaranteeing their debts and assets, then I have no reticence in seeking similar assistance. If spreading the wealth to the Fortune 500 is good, then it's good for me, too. And I really don't expect trickle-down to work. In the 30 years since Reagan rolled it out, all that has trickled down is a mere trickle. I can see that the Bush tax cuts engineered a wealth redistribution from the poor to the already rich far more vast than anything Obama has proposed. I must say I prefer strategic subsidies to the poor, instead of to the rich.

Scott, if you can prevent the lender from foreclosing on your struggling neighbor, then your property will retain and possibly increase in value.

Spicetrader of CA @ Nov 13, 2008 00:13:05 AM

Good Guys

Don't worry. Those of us who lived within our means, and that also means saving enough to get through tough times and unexpected expenses, get our reward by not having to endure the stress of financial problems or ruin. Been there years ago from a nasty divorce. Decided to never go there again. Medical emergencies and catastrophic illness is the exception. That will ruin almost anyone, except a multi-millionaire, and should not happen in this country. So, Scott, relax buddy and enjoy your security.

Independent of AZ @ Nov 12, 2008 19:14:16 PM

again, weh weh. think of the greater good. foreclosures in your neighbourhood also bring down value of your real estate.

so stop this childish complaining. keep "busting your butt" *whatever*

david of CA @ Nov 12, 2008 14:38:55 PM