If we just stop paying our bills now, can we get some of that stimulus money?

[leftofthedial]

Or have we already missed the magic timing window?

I already wiped out my life savings trying to survive this long.

[nc4bo]

1. That would give pushing the "reset" button a whole new meaning. nt

[Lance_Boyle]

2. quiet you!

Go sell some plasma so you can help finance your deadbeat neighbor's granite countertops.

[CoffeeCat]

11. LOL!

Oh my...never had so much about some of the people who will get a housing bailout.

We purchased a home three years ago. We went conservative and bought a house that was
half of what the bank wanted to lend to us. So, we don't get help--because we were
responsible. Yet, my neighbors, who are mortgaged to the eyeballs (with their granite and
extra rooms that they added on with a home-equity loan) will be showered with gifts
from the government.

Meanwhile, my husband was just asked to take a paycut. We get to live on $1,200 less
per month. We're trying not to touch our savings and live on less, but this means
that we can't save a lot--in preparation for the economic hell that is coming.

I don't think this bailout will help at all. I just think that there are too many problems
and too many people in distress due to the economy. I applaud Obama for trying to help
people, but this problem is a tsunami, and the stimulus is like giving a some people
umbrellas.

The problem is just too great. Bush and the neocons orchestrated it that way.

Unless a stimulus bill gives every man, woman and child several thousand dollars or more--I just
don't see government intervention helping. And we'll never see a stimulus bill like that, so--

...here we are!

[countingbluecars]

3. What part of the stimulus money

is for people who have stopped paying their bills?

[leftofthedial]

6. mortgages in default, the part Obama publicized in Arizona.

[countingbluecars]

9. Thanks

I guess I'm confused. I thought the mortgage money was coming out of the TARP money not the stimulus bill.

[leftofthedial]

14. it's all government cheese

if you're one of the lucky ones

[Hello_Kitty]

4. I'm in the same boat.

I'd be delighted if I could just get a job.

[leftofthedial]

7. if you aren't collecting unemployment, you aren't unemployed,

so cheer up!


You and me both.

[Hello_Kitty]

17. Ain't that the truth!

I'm glad for the people getting an increase in their UI benefits but how does that help me? Same with the tax cuts.

[liberal N proud]

5. Here is how I look at the fact that I will not get any stimulus money

Your little brother broke his arm, so your mother took him to the doctor. On the way home they stopped so he could have some ice cream. You didn't get any, is that fair?

If you want we can break your arm too so that you can get some ice cream too.


I would rather not be in the shoes of those who will get the money to help with the mortgage crisis. Their credit will not improve because of this help. But maybe there is an outside chance that the bleeding of foreclosures will stop and the market will finally bottom out.

[leftofthedial]

8. credit is a meaningless abstraction to those of us with no income

[liberal N proud]

13. And that really sucks

[FarCenter]

10. "Your little brother climbed on the garage roof, where he knew he wasn't supposed to be,

and foolishly jumped off, breaking his arm" ...

[liberal N proud]

12. No the kid across the street convinced him he could and it would be safe

He wasn't smart enough to know that what goes up must come down.

[CoffeeCat]

16. I agree with your analysis...

I do understand that the people getting help deserve it. I really do. The lenders, together
with the realtors--really bamboozled many people into buying more house than they could afford.

They worked like hell on us, urging us to take an ARM or an interest-only loan. We practically
had to fight to get a conventional mortgage and they treated us like we were unsophisticated dolts
for not taking advantage of their creative financing, "But you could get so much more house with
these loans!' Uhhhh...no thanks.

I agree that many homeowners were greedy and wanted bigger houses that they couldn't afford. However,
everyone wants a big house. The lenders are supposed to be the gatekeepers, not the idiots who give
consumers just enough rope with which to hang themselves.

Given all of that...I don't have a problem with those who did this--getting help. We have to help them!

However, the people, like us, who didn't buy ginormous houses and who were responsible--are not helped at all!

That is the problem. My husband was just forced to take a $1,200 per month paycut. Where is our help?

I think this economic disaster is just so huge...that unless everyone is helped--nothing will help at all. Many
peole are drowning, not just the people who "bought more house than they could afford".

People can't live off of unemployment. It's not enough. People can't find jobs to replace the ones that they lost.
People can't pay off their student loans and other bills--because they're out of work and forced to take lower pay.
People need cash infusions. Across the board cash infusions--into every home--is probably the only solution. It's
bad now, but it's going to get much worse.

That's my opinion, anyway.

[liberal N proud]

18. No we are not helped directly

But the bleeding must stop before those of us who were responsible will ever stand a chance of seeing a return on the investment we did make.

At some point the bloodbath that is taking place will swallow us all, I don't think we are too far from that point. So even though I will not see any immediate effect from the Obama's mortgage plan, I will take comfort in hope that this stops or slows that downward spiral.

Even your predicament is indirectly a result of the downturn in the economy and more will join you before it is over.

When we purchased moved in 2000, the banks were all telling us that we could afford twice the house that we were comfortable with. Thank god we didn't buy their bullshit as so many have.

[ieoeja]

19. "You can afford $150,000 and up."

My (now ex-)wife and I asked the realtor how high we could go. "You can afford $150,000 and up," was her reply.

Actually, we could afford $0 and up. So that wasn't much of an answer. Except that it was. It told us the realtor wasn't going to show us a home less than $150,000. She knew we could afford at least that much and wanted to make sure she got as much commission as possible.

We were lucky. She was new. A more subtle realtor might well have guided us into a more expensive house.

And consider the fact that we were both college educated and both with years of experience developing financial software. Nevertheless when it came to such a major expense, we consulted the expert. We were smart enough to recognize the expert was screwing us, and strong enough to say, "no". A lot of people are neither, let alone both.


As to the mortgage, I have a home and an apartment building now. I re-fi'ed the home twice. So I have been down that route 4 times. And like you, every time they tried talking me into a mortgage I didn't want.

[ContinentalOp]

22. Good analogy.

That's an example of terrible parenting. You're rewarding the risky, unsafe behavior of one child while punishing the quiet, well behaved child. The kid with no ice cream (smart enough not to break his arm) is going to be smart enough to see the inherent unfairness in your judgement and will grow resentful of you and his brother. The kid with the broken arm will learn that not only is there no consequence for his risky behavior but that he's actually rewarded for it and gains his mother's sympathy.

[JoDog]

15. What about the folks

who never bought a house who are fighting credit card and financing companies? That extra $12 or so a week isn't going to save me.

And that housing and car purchase rebates will only help people who have good enough credit to get a loan in the first place. That group is growing smaller by the day. Yesterday, I talked with a guy with a 722 score who can't get approved for an auto loan.

[Doremus]

20. Where's mine?

Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me
Me me me me me me me me me me me me me me me me me me

[leftofthedial]

21. I said "we"

not "me"

can't you read?

[Doremus]

23. You might have said "we" but the underlying message was "Where's mine, dammit?"

This attitude of "me and mine," whether it comes from the right or left, sounds more and more childish everyday. That CNBC guy, Santini or whatever, sounded like a petulant child. He could have written this thread.

News flash: Life isn't fair. Mature adults realize there isn't enough money in the world to rescue every person who needs it (or those who have nothing but a severe case of green with envy). Some of us also realize that this obsessive, myopic self-interest is what put us in the jackpot in the first place.

I've been saddled with a $1000/month health insurance premium for 4 years. My small retail business is on its deathbed. I'm wondering where in fvcking hell I'm going to find a job at 53 years old so I don't lose everything I've worked for all my life. As bad as it is, I know there are people in even worse shape. People with *nothing* for whom a hot meal and safe place to sleep are too much to wish for. Yet everywhere I go are people in far less distress whining "where's mine."

It's no wonder this country has gone to shit.

[leftofthedial]

25. not in this case.

According to polls here, most of us are not in default on our mortgages, but a large number of us have been and are suffering extreme economic hardship, like you. Like me. ut we are by no means the only ones.

On behalf of us, what's in it for us? Just a few jobs would be nice. I don't want anything for free. So far, I have not taken a penny of any kind of government assistance, despite qualifying for all sorts of help.

[Doremus]

27. You're looking in the wrong place then.

Your first post asked whether we should stop paying our bills so we could get a slice of stimulus pie.

A far better question: "What fields are going to be in greater demand as a direct result of the stimulus and how do I start now to qualify for one?"

Maybe not as satisfying as the whinefest you posted but you might've actually learned something.

[leftofthedial]

29. I learned plenty.

[Urban Prairie]

24. What about those who have already lost their homes and savings...

Trying to hang on, what did the Filibuster (GOP Congress) and Veto (Chimpy) do to prevent the home foreclosure dominoes from falling?

Did they propose legislation to permit short sales of primary residences w/o tax penalties?

Repeal the changes made to Ch 7 bankruptcy law?

Advocate mortgage debt restructuring under Ch 13?

Freeze rates on ARM and interest-only mortgages??

Fix the leaky and loophole-filled US tax code?

Enact legislation to penalize US based businesses that outsourced and offshored US jobs with impunity?

Fuck the GOP!!

Stick your lame and worthless tax cut solutions up your collective asses!!

[leftofthedial]

26. Timing is everything, it appears.

[seabeyond]

28. if talking home mortgage, they are not "getting" money. what are you talking about? n/t