Comments on: President Obama Announces New Program to Help Struggling Homeowners http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/ The latest Politics news and blog posts from ABC News contributors and bloggers including Jake Tapper, George Stephanopoulos and more. Fri, 17 May 2013 23:49:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: wvtaxpayer http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-29851082 wvtaxpayer Wed, 12 Dec 2012 05:57:39 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-29851082 Reply to -: newcountryman | October 24, 2011, 4:22 pm 4:22 pm The Democrats need to find a qualified candidate to run against Republican candidate then no matter which party wins the election the American people and the economy will be the real winners. Reply: The better of the two won, pick a better republican candidate next time! Reply to -: newcountryman | October 24, 2011, 4:22 pm 4:22 pm

The Democrats need to find a qualified candidate to run against Republican candidate then no matter which party wins the election the American people and the economy will be the real winners.

Reply: The better of the two won, pick a better republican candidate next time!

]]> By: Victoria http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-28655110 Victoria Sun, 30 Sep 2012 00:50:46 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-28655110 These deadbeats purchased too much home. Kwoing very well that they could NOT afford it. Their problem. I hope they all have to go and live under a bridge. My house I paid for it cash. A small home 1720 sf. I pay my bills on time, including taxes (federal income tax) . I have my own cpa to do my federal income taxes. I pay federal income taxes in April, then three more times during the year (estimated taxes). I live very frugally. I drive an old Toyota, nothing is wrong with it. I don't expet for the government, my daughter, or anybody else to pay for my medical bills or anything else. I have dignity and pride. I always have enough money to solve any kind of problem. I am not like the typical deadbeat that is alwyas broke. Victoria These deadbeats purchased too much home. Kwoing very well that they could NOT afford it. Their problem. I hope they all have to go and live under a bridge. My house I paid for it cash. A small home 1720 sf. I pay my bills on time, including taxes (federal income tax) . I have my own cpa to do my federal income taxes. I pay federal income taxes in April, then three more times during the year (estimated taxes).
I live very frugally. I drive an old Toyota, nothing is wrong with it. I don’t expet for the government, my daughter, or anybody else to pay for my medical bills or anything else. I have dignity and pride. I always have enough money to solve any kind of problem. I am not like the typical deadbeat that is alwyas broke.
Victoria

]]> By: Cst http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-18325852 Cst Thu, 23 Feb 2012 20:21:20 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-18325852 Wake up America!! This whole HOPE for homeowners is a joke. A majical act right in front of your face. You better do a little research before you go thru with any of the lines of help. It is absolutely no different than going into foreclosure and going thru a debt solution agency! Yes your credit report will not show a foreclosure on your record but it will hit your credit hard for the same length of time as a foreclosure and is reported to credit companies as a forgiveness of debts which is no different than a written off foreclosure on your record. The only plus side is you keep your house that is underwater severely with a lower payment and who knows or can forecast when your house will ever rebound if it does. Even to refi at the current rates they screw you because if you do your research the new rate will be lower with a refi rate but they have jacked up the mortgage insurance which eats up almost any of the savings you could had saved plus you get the closing costs added onto the loan or pay up front. Again the positive side is that when your home loan value becomes 85% of the actual value the insurance come off and your payment will be much lower but who knows when that is. If you go thru the government website affordable homes act ask questions. they do not and will not say they are not a government employee rather non profit and when asked if they are a debt solution company they will admit such. You go to that kind of service when you have no other options to deal with debt issues right before a bankruptcy! A majority of you, admittingly or not, are in a mortgage that you should have never gotten into. May it be the banks allowed or you had to have that more expensive home than the alternative. Myself, I chose a house half the value I could afford to protect from a situation like this and am pleased with my choices. What pisses me off is the fact that everyone alound me has severely devalued my home because they couldnt pay for theirs! Now I am underwater and cannot upgrade as planned due to the irrisponsibilities of others including banks. And for Obama to put out this homeowner help with false pretenses thru the media and the campaign is disgusting! Either way I am sorry to say all of us are screwed if you take the programs help or continue to pay on a dead note. Bad creidit stays for 7 years now so consider that before you take the help! Wake up America!! This whole HOPE for homeowners is a joke. A majical act right in front of your face. You better do a little research before you go thru with any of the lines of help. It is absolutely no different than going into foreclosure and going thru a debt solution agency! Yes your credit report will not show a foreclosure on your record but it will hit your credit hard for the same length of time as a foreclosure and is reported to credit companies as a forgiveness of debts which is no different than a written off foreclosure on your record. The only plus side is you keep your house that is underwater severely with a lower payment and who knows or can forecast when your house will ever rebound if it does. Even to refi at the current rates they screw you because if you do your research the new rate will be lower with a refi rate but they have jacked up the mortgage insurance which eats up almost any of the savings you could had saved plus you get the closing costs added onto the loan or pay up front. Again the positive side is that when your home loan value becomes 85% of the actual value the insurance come off and your payment will be much lower but who knows when that is. If you go thru the government website affordable homes act ask questions. they do not and will not say they are not a government employee rather non profit and when asked if they are a debt solution company they will admit such. You go to that kind of service when you have no other options to deal with debt issues right before a bankruptcy! A majority of you, admittingly or not, are in a mortgage that you should have never gotten into. May it be the banks allowed or you had to have that more expensive home than the alternative. Myself, I chose a house half the value I could afford to protect from a situation like this and am pleased with my choices. What pisses me off is the fact that everyone alound me has severely devalued my home because they couldnt pay for theirs! Now I am underwater and cannot upgrade as planned due to the irrisponsibilities of others including banks. And for Obama to put out this homeowner help with false pretenses thru the media and the campaign is disgusting! Either way I am sorry to say all of us are screwed if you take the programs help or continue to pay on a dead note. Bad creidit stays for 7 years now so consider that before you take the help!

]]> By: Maria http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-16045511 Maria Wed, 25 Jan 2012 03:55:41 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-16045511 Personally I don't like this one. How do we teach responsible home owners how to buy homes if all we do is bail them out. No one was there to bail out my husband and I when we lost our home in the 90's when the economy went south and my husband lost his job because his company went bankrupt. We had to deal with our loss and move on and it taught us a very valuable lesson. How to make sure you buy a house the responsible way and take everything into account. Where was the government when others lost their homes. This to me is just not right to keep bailing out or saving people their homes. What's fair is fair and so many years ago lost their homes and no one saved them. Now it's bail them out and save their homes and refinacing help. Not fair to me that is how I see this. Personally I don’t like this one. How do we teach responsible home owners how to buy
homes if all we do is bail them out. No one was there to bail out my husband and I when
we lost our home in the 90′s when the economy went south and my husband lost his job
because his company went bankrupt. We had to deal with our loss and move on and it
taught us a very valuable lesson. How to make sure you buy a house the responsible way
and take everything into account. Where was the government when others lost their homes.
This to me is just not right to keep bailing out or saving people their homes.
What’s fair is fair and so many years ago lost their homes and no one saved them.
Now it’s bail them out and save their homes and refinacing help.
Not fair to me that is how I see this.

]]> By: Marie http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-13993122 Marie Wed, 04 Jan 2012 03:36:17 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-13993122 All these comments about President Obama being stupid, think about hes the president and your not.You guys are just bunch of stupid Republican, who can't except anything a Democrat politician do for this country. This is whats wrong with this country its totally devided, a republican will never vote or agree for democrat candidates and the same with democrats. Wake up and for once put aside your party and do whats right for your country. By the way im not Republican nor Democrat. I vote for the right candidate and agree for the people. All these comments about President Obama being stupid, think about hes the president and your not.You guys are just bunch of stupid Republican, who can’t except anything a Democrat politician do for this country. This is whats wrong with this country its totally devided, a republican will never vote or agree for democrat candidates and the same with democrats. Wake up and for once put aside your party and do whats right for your country. By the way im not Republican nor Democrat. I vote for the right candidate and agree for the people.

]]> By: Itjustdontmakesense http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-9557242 Itjustdontmakesense Wed, 30 Nov 2011 07:20:07 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-9557242 There is a few things in this plan that does make sense to me. 1. How distress are you really, if you can make your payments on time and have good credit? a. people with good credit and can make their payments on time, can refinance without government aid. Banks like these types of people. 2. The problem is these program target the wrong people and does nothing to help the distress homeowner or the housing market. It allows those with buying power more ways to buy homes cheaper and rent them for higher returns. Banks are not lending to the common home buyer, it is not a seller's or buyer's market, it is an investor's market. A bank will short sell your home to an investor for 40K when you owe 260K on the loan and write off the rest via government programs. Instead of reducing the loan to 100K and righting off the rest via government programs. There is no incentive to keep homeowners in homes. Reducing the principle is the only real fix, but who is preventing this and why? The money is there, 97billion set side to help distress buyers, yet principle remind high. Why would I pay 280K for my home when the house next door is going for 80K? This does not mean you get a free house (the bank would still own it, but they have less capital risk), it makes it so that everyone is back on a fair and even playing field. This would not only apply just to distress homeowner, but everyone who is more than 40% upside down in their homes. We need to even out the market. 3. It is not the interest rate that is the problem. It is the principle balance that is killing the market. Two exact houses on the same street. One currently on the market for 80K and the other was sold for 320K in 2007. It is really that hard to see the problem? There is a few things in this plan that does make sense to me.
1. How distress are you really, if you can make your payments on time and have good credit?
a. people with good credit and can make their payments on time, can refinance without government aid. Banks like these types of people.

2. The problem is these program target the wrong people and does nothing to help the distress homeowner or the housing market. It allows those with buying power more ways to buy homes cheaper and rent them for higher returns. Banks are not lending to the common home buyer, it is not a seller’s or buyer’s market, it is an investor’s market. A bank will short sell your home to an investor for 40K when you owe 260K on the loan and write off the rest via government programs. Instead of reducing the loan to 100K and righting off the rest via government programs. There is no incentive to keep homeowners in homes. Reducing the principle is the only real fix, but who is preventing this and why? The money is there, 97billion set side to help distress buyers, yet principle remind high. Why would I pay 280K for my home when the house next door is going for 80K? This does not mean you get a free house (the bank would still own it, but they have less capital risk), it makes it so that everyone is back on a fair and even playing field. This would not only apply just to distress homeowner, but everyone who is more than 40% upside down in their homes. We need to even out the market.

3. It is not the interest rate that is the problem. It is the principle balance that is killing the market. Two exact houses on the same street. One currently on the market for 80K and the other was sold for 320K in 2007. It is really that hard to see the problem?

]]> By: Gabby http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-7851681 Gabby Thu, 17 Nov 2011 22:47:26 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-7851681 "Some people bought more than they could afford." is an easy out.. a great many people like myself bought a home they could easily afford while working. Job loss is rampant and a home within your means before a job loss is completely different. The good credit requirement and the "one late payment" requirement makes this program useless. And saying that "these folks should be renting." shows how out of touch he is with the rental market. It is cheaper to buy if you have good credit....this is why I bought in the first place. In addition rent prices are on the rise and people that have had problems paying mortgages and are unemployed or underemployed are not going to be approved. Nor will they have the funds to pay a huge deposit. They need to rent out the homes that have been foreclosed on to individuals that have lost their homes for the escrow price alone. I saw the other day where they were tearing down foreclosuers. Just crazy with so many people without homes now.....tired in Texas. “Some people bought more than they could afford.” is an easy out.. a great many people like myself bought a home they could easily afford while working. Job loss is rampant and a home within your means before a job loss is completely different. The good credit requirement and the “one late payment” requirement makes this program useless. And saying that “these folks should be renting.” shows how out of touch he is with the rental market. It is cheaper to buy if you have good credit….this is why I bought in the first place. In addition rent prices are on the rise and people that have had problems paying mortgages and are unemployed or underemployed are not going to be approved. Nor will they have the funds to pay a huge deposit. They need to rent out the homes that have been foreclosed on to individuals that have lost their homes for the escrow price alone. I saw the other day where they were tearing down foreclosuers. Just crazy with so many people without homes now…..tired in Texas.

]]> By: IMjazzed http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-7165031 IMjazzed Sat, 12 Nov 2011 03:54:54 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-7165031 This is not going to help everyone that is for sure. Especially those that have been encouraged to miss their payments. How can they encourage people to miss their payments and then eliminate those folks (that need this) from being able to apply???? Does not make sense. However, if it even helps a handful of people and IT WILL, then it needs to be done NOW. Of course jobs have to increase and the economy stimulated, but for criminy sakes let's keep people in their homes. This is not going to help everyone that is for sure. Especially those that have been encouraged to miss their payments. How can they encourage people to miss their payments and then eliminate those folks (that need this) from being able to apply???? Does not make sense. However, if it even helps a handful of people and IT WILL, then it needs to be done NOW. Of course jobs have to increase and the economy stimulated, but for criminy sakes let’s keep people in their homes.

]]> By: Barbara http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-6922902 Barbara Wed, 09 Nov 2011 15:02:07 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-6922902 Well I for one can say I think it's a good plan because it effects me directly. I lost my job and have ran out of unemployment and this bill would help lower our house payment and keep us from losing our home. How is that a negative? Wouldn't that be better for our economy than for us to have to lose our home to foreclosure? I don't know alot about the financial world but this makes sense to me. I wonder if the majority of the people commenting on here can truly relate to this subject. Well I for one can say I think it’s a good plan because it effects me directly. I lost my job and have ran out of unemployment and this bill would help lower our house payment and keep us from losing our home. How is that a negative? Wouldn’t that be better for our economy than for us to have to lose our home to foreclosure? I don’t know alot about the financial world but this makes sense to me. I wonder if the majority of the people commenting on here can truly relate to this subject.

]]> By: No more Odumbo http://abcnews.go.com/blogs/politics/2011/10/president-obama-to-announce-new-program-to-help-struggling-homeowners/#comment-5890082 No more Odumbo Sat, 29 Oct 2011 02:13:25 +0000 http://abcnews.go.com/blogs/politics/?p=150142#comment-5890082 Can we please get a new POTUS... this is another failed joke that will limit much benefit. Can we please get a new POTUS… this is another failed joke that will limit much benefit.

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