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Federal Housing Plan - TOTAL BS!!!

Jeff C

Well-known member
Lifetime Membership
I just heard some of the details of Geitners housing plan.

It assists people who are "underwater or upside down " on their mortgages.


I got to thinking about my own situation on this aspect of the plan.


Instead of racking up high credit card bills, or buying expensive stuff, I have been faithfully, every month, been adding more principal, thus reducing my mortgage balance.

So people like me, who were responsible, sacrificing new sleds, and other "finer things in life", get hosed because my mortgage amount+natural equity in my home makes me "above water, and not upside down"


So living on the edge of bancruptcy by reckless behavior = Assistance
Being responsible, doing what is right = MY tax dollars going to "assist" irresponsible homeowners..



That just plain s.u.k.x!!!!!!!!!!!
 
Let me guess.....you did NOT vote for Obama, and the majority of those that are "upside down" DID vote for Obama. ??
 
This whole deal is down right angering! If I did not have any morals I would be half tempted be fiscal irresponsible and stop paying for my mortgage and let the government bail me out.... What is this teaching our children? Do not worry, you do not have to be responsible, the government will take care of you. GAWD I cannot stand this socialist crap!
 
same here! paying bills, taxes, etc while adding extra to my mortage as well! Guess who wont be getting any help? These are my obligaions in which I agree to pay, still doing it, as I should.


Let the people who cant make it go belly up! ITS THE ONLY WAY THEY WILL LEARN!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
typical reward the losers and hell why don't they just kick the people that worked hard for their cash and homes out of there homes and give them to a family of beaners? what the F is next, shame on the American Government!
 
Can tell that you boys still have your jobs! I've been without one for quite some time now and loosing pretty much everything. Funny thing though is that since I don't have a job and cannot pay some on my morgage, I don't qualify for assistance. I am single so I don't qualify for welfare. I am over 50 but under 60 so social security is out. I had over 100,000.00 eguity in my home and 20,000.00 in savings. Equity was gone with values decrease and savings doesn't go very far with a 1500.00 mo house payment. I agree with you about those milking the system........but don't be so quick to judge everyone!!!
 
Then call your reps.
Call them every day.
Call them twice a day.
Have all your friends call twice a day.
This bill is highly unpopular for the above mentioned reasons.
demand your reps vote no.
Apply enough pressure and they will vote no.
 
I am sorry to hear that you are out of a job...based on what you said it sounds like you were fiscally responsible (not many people have 20k in their savings and 100k in equity) and obviously fallen on tough times. Sounds like you deserve help.

What we, as I agree w/ most of the previous posts, are refering to are the people that have been ir-responsible. Have bought a house they couldn't afford, didn't stop to think what a variable mortgage really means and what the payment could be a few years down the road, maxed out their credit cards, and now want everyone else to bail them out of their stupid mistakes.

It's called being fiscally responsible, and nothing the gov't knows a thing about the way they have been spending money.
 
Can tell that you boys still have your jobs! I've been without one for quite some time now and loosing pretty much everything. Funny thing though is that since I don't have a job and cannot pay some on my morgage, I don't qualify for assistance. I am single so I don't qualify for welfare. I am over 50 but under 60 so social security is out. I had over 100,000.00 eguity in my home and 20,000.00 in savings. Equity was gone with values decrease and savings doesn't go very far with a 1500.00 mo house payment. I agree with you about those milking the system........but don't be so quick to judge everyone!!!

You should have sold it when you lost your job, and hunkered down until you had a steady job again.
Equity is meaningless unless you sell it, you basically have a $1500 Morgtage payment and your house is underwater. Stop paying and walk away and keep any savings you have.
 
You should have sold it when you lost your job, and hunkered down until you had a steady job again.
Equity is meaningless unless you sell it, you basically have a $1500 Morgtage payment and your house is underwater. Stop paying and walk away and keep any savings you have.


Wasn't in my nature to just walk away from it (with cash in hand, responsibility thing) and tried to sell it even on short sale, maybe your area wasn't affected but our area was saturated with new and used inventory for sale. I was in the construction game and tried to maintain long enough for my employees to prepare for the shutdown of my business.

I was simply stating that you cannot lump everyone into the same catagory and how would you propose separating the good from the bad???
 
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