GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Poor planning home 'buyers' might be getting more government aid...

03-29-2008, 02:50 PM

Why is it that once again, people who overexerted themselves financially are getting a pickup from the government? If people hadn't bought homes that they could not afford, the housing market wouldn't be in the mess that it is in today.

I have a hard time cheering on a plan that rewards poor planning. Yes, it may help get things back in line after a while, but I have no sympathy for people who make large purchases that they shouldn't make. I don't see rewards for home buyers that did things as they should have, and have contributed to what little stability the market has left (and are paying high interest HELOC loans).

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" WASHINGTON (Reuters) - President George W. Bush said on Saturday he is looking to expand U.S. efforts to help struggling homeowners reduce their mortgage payments, as Democrats pressed for a more substantial federal role.
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Bush said some 130,000 homeowners have used a Federal Housing Administration program to refinance unaffordable mortgages since it was announced last August.

"This is a good start, and my administration is committed to building on it," Bush said in his weekly radio address. "So we're exploring ways this program can help more qualified home buyers."

Bush said 300,000 homeowners are expected to use the program by the end of this year, more than the FHA's initial estimate of 240,000 homeowners.

That is a fraction of the 10.3 percent of U.S. homeowners, some 8.8 million in all, who owe more than their houses are worth, according to Moody's Economy.com."
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More on http://news.yahoo.com/s/nm/20080329/...omy_housing_dc

Oh well... At least it's better than sending everybody who makes over $3k a year a $600 check (while fazing rebates out for the top 25% of tax payers).

03-29-2008, 02:50 PM
shermo Guest Posts: n/a	Poor planning home 'buyers' might be getting more government aid... Why is it that once again, people who overexerted themselves financially are getting a pickup from the government? If people hadn't bought homes that they could not afford, the housing market wouldn't be in the mess that it is in today. I have a hard time cheering on a plan that rewards poor planning. Yes, it may help get things back in line after a while, but I have no sympathy for people who make large purchases that they shouldn't make. I don't see rewards for home buyers that did things as they should have, and have contributed to what little stability the market has left (and are paying high interest HELOC loans). -------------------- " WASHINGTON (Reuters) - President George W. Bush said on Saturday he is looking to expand U.S. efforts to help struggling homeowners reduce their mortgage payments, as Democrats pressed for a more substantial federal role. ADVERTISEMENT Bush said some 130,000 homeowners have used a Federal Housing Administration program to refinance unaffordable mortgages since it was announced last August. "This is a good start, and my administration is committed to building on it," Bush said in his weekly radio address. "So we're exploring ways this program can help more qualified home buyers." Bush said 300,000 homeowners are expected to use the program by the end of this year, more than the FHA's initial estimate of 240,000 homeowners. That is a fraction of the 10.3 percent of U.S. homeowners, some 8.8 million in all, who owe more than their houses are worth, according to Moody's Economy.com." ---------------------------- More on http://news.yahoo.com/s/nm/20080329/...omy_housing_dc Oh well... At least it's better than sending everybody who makes over $3k a year a $600 check (while fazing rebates out for the top 25% of tax payers).