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Forums - General - US Government considering paying people's mortgages

NJ5 on 14 July 2009

http://www.reuters.com/article/marketsNews/idUSN1429265720090714?rpc=77

NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.

Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.

Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.

As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said. (Reporting by Patrick Rucker; Editing by Diane Craft)

Well this is just...

 



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Viper1 on 14 July 2009

Absolute madness.



Is Obama the most socialist president we've ever had?



The rEVOLution is not being televised

sguy78 on 14 July 2009
Viper1 said:
Absolute madness.



Is Obama the most socialist president we've ever had?

Um, without question. The more people you get to suck off the tit of the government, the more power liberals will have.



NJ5 on 14 July 2009

I think the government is so scared of the consequences to banks that they're willing to try almost anything to keep defaults from happening. Of course this can't work forever, it's just great news for banks and bad news for taxpayers (the same as with most or all of the bailouts).



My Mario Kart Wii friend code: 2707-1866-0957

Tyrannical on 14 July 2009

Awesome!
Why work when the gub'mt will pay health care and your mortgage?



Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
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ironman on 14 July 2009

Good gravy!!! Why didn't I buy a house right before I got layed off?!?!?!



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superchunk on 15 July 2009

Oh how I love all you 'wise' presumably conservative folks.

I think a few of you need to read history of the Great Depression and what steps caused it to get far worse and which ones caused it to eventually recover and put US into an eventually massive growth.



Viper1 on 15 July 2009
superchunk said:
Oh how I love all you 'wise' presumably conservative folks.

I think a few of you need to read history of the Great Depression and what steps caused it to get far worse and which ones caused it to eventually recover and put US into an eventually massive growth.

It is precisely because some of us know our history and economics that we are scolding our government for their actions.

 

Let the market be a market.   It's a perpetual motion machine with self healing properties provided you get the hell out of the way and let it work. 



The rEVOLution is not being televised

tedsteriscool on 15 July 2009

Oh...my. I hate freeloaders and this will just add to the problem.



Sardauk on 15 July 2009
Viper1 said:
superchunk said:
Oh how I love all you 'wise' presumably conservative folks.

I think a few of you need to read history of the Great Depression and what steps caused it to get far worse and which ones caused it to eventually recover and put US into an eventually massive growth.

It is precisely because some of us know our history and economics that we are scolding our government for their actions.

 

Let the market be a market.   It's a perpetual motion machine with self healing properties provided you get the hell out of the way and let it work. 

Isn't it that kind of "self regulating market" attitude that created the crisis ?

Self-healing.... yeaah that is easy to say...

 

Paying people morgtgages seems a bit extreme anyway...



 

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