How come I gotta Pay for mortgage rescues? WHAaaaaa

[radfringe]

I gotta job, I pay my mortgage - why do I gotta pay for someone who bought "too much house"?

Been hearing alot of that. If I didn't know better, I'd say it was meme's lifted from the latest NOPer press releases.

yes, some people "bought too much house", but there is also a significant number who lost their jobs, were hit with serious illnesses - all of which impacted their ability to pay.

NOPers are touting a 17% figure as the number of mortgages in default. Doesn't sound like much - however if you buy into the "housing crisis caused economic collapse" - then 17% is significant.

We can point fingers, we can wail about the unfairness of it all - but the bottom line is we're in a state of economic collapse. We're losing jobs by the thousands everyday - and that means even more people will go into default whether or not they "bought too much house".

The key word being "WE" - all of us, everyone. So, quit your bitching - suck it up - pull together and stop listening to NOPers. If 17% go down - we all go down with them.

[rpannier]

1. My 2 cents...for what's it's worth

1. We are NOT bailing out people who bought two or three homes

2. As I stated in an earlier post, enlightened self interest should make one support this. Why? Because if the house next door to you gets foreclosed on it could sit empty for months. Drug dealers move in and they may (probably will) break into your house. Your property value goes up.

3. It's not a one time thing. If you lose your job or something else bad happens, you're probably eligible to get help.

4. The whole friggin country is going down the tube and housing is one of the main engines that's making it happen. It has got to be stopped/slowed. This concept of market correction that's being pushed is an idea that's being pushed by people who told us what a great deal sub-prime mortgages were.

5. Sometimes life is about other people. Just thank God(s) you're not one of those people.

[ThomWV]

2. The real number is less than 10%. Why save your neighbors house? To maintain the value of your own

When the house next door is abandoned and well into the process of being vandalized you better do something about it if you wish for your own home to retain value. The answer is really that simple.

[undeterred]

3. We are also not bailing out people who are renting

and lost their jobs, and have fewer assets than homeowners. The stimulus is not doing jack shit for the homeless or those already living in poverty.

[rpannier]

5. It does the same thing for people in poverty that the republican plan does

Absolutely zilch!

The republikkan plan: Tax cuts. Something the poor can always use. :sarcasm:

[Coyote_Bandit]

4. I'm glad we have a stimulus package

but there should have been something in there to help long term unemployed folks and there should have been significant funding made availalbe for SBA loans.

[CanonRay]

6. Republicans = Me, me, me, me