Hooray - Help for Homeowners is on the way!

[deckeda]

And then you'll send me mine? Lemme guess: "somebody else" has to go first.

[kj]

deckeda wrote:
What I think some of you don't get is that this mess has morphed way beyond the personal blame game. The whole notion of fairness, of paying one's dues (if not monthly bills), accounting for one's actions and responsibilities is not enough to fix the economy. Not now.

I'll be succinct. It's gonna take all of us helping out each other, even in cases where "they don't deserve it" in order to help ourselves. If ya can't see how it's all related and interdependent then your best bet is to keep your head in the sand and pray nobody comes up behind you and ...

Your fatal assumption is that these gov't actions are going to save the economy. I think they will only allow people to continue being stupid for a short while. And by the time it's over, ALL of us will be screwed.

Ok, I need to help people keep the houses (cars, etc.) they never could afford, or we're all screwed. Is that really the truth? I can't believe it. kj.

[$tevie]

I think that your fatal assumption is that you believe we are discussing people who currently are in trouble, and you are completely ignoring the fact that this is not over yet.

How good will it be for the economy when people are walking into the banks to drop off their keys and leaving town? Your house won't be worth a damn at that point. It happened in Alaska when my brother lived there in the 80s, albeit for a different reason. When there is a glut on the market for houses, we will all suffer.

[freeradical]

$tevie wrote:
When there is a glut on the market for houses, we will all suffer.

There you have it. NO amount of "stimulation" is going to help out the housing market if there is nobody to live in all of those excess houses. Start having babies; that's the ticket.

[Mac1337]

deckeda wrote:

I'll be succinct. It's gonna take all of us helping out each other, even in cases where "they don't deserve it" in order to help ourselves. If ya can't see how it's all related and interdependent then your best bet is to keep your head in the sand and pray nobody comes up behind you and ...

This is a kumbaya policy. I asked this before...

How do you prevent a foreclosure when someone simply can't make payments? Give me a specific policy.

[kj]

$tevie wrote:
I think that your fatal assumption is that you believe we are discussing people who currently are in trouble, and you are completely ignoring the fact that this is not over yet.

How good will it be for the economy when people are walking into the banks to drop off their keys and leaving town? Your house won't be worth a damn at that point. It happened in Alaska when my brother lived there in the 80s, albeit for a different reason. When there is a glut on the market for houses, we will all suffer.

Why would they leave town? Have all these people lost their jobs too? No, they move into something they can afford. Why will we all suffer when there is a glut of houses on the market? kj.

[$tevie]

You refinance the mortgage at 4% instead of 8% which lowers the payment from, say, $735 to $475.

[$tevie]

If there are 50 houses for sale in your neighborhood than your house is worth less because there is too much supply and not enough demand.

[$tevie]

What can these people afford? They won't have money for first and last month's rent and their credit rating is shot and they aren't going to get any equity out of their house because they have lost it. Multiply that by the dozens. Remember, you are envisioning right now when in fact we are talking about eventually. Things are supposed to get worse before they get better, why should we sit around like cows waiting to be slaughtered if we can try to start to bring some semblance of normalcy to things right now?

[kj]

$tevie wrote:
What can these people afford? They won't have money for first and last month's rent and their credit rating is shot and they aren't going to get any equity out of their house because they have lost it. Multiply that by the dozens. Remember, you are envisioning right now when in fact we are talking about eventually. Things are supposed to get worse before they get better, why should we sit around like cows waiting to be slaughtered if we can try to start to bring some semblance of normalcy to things right now?

It doesn't matter how much your house is worth if you're not moving. I think most of these people have jobs, so they rent. Bummer for them, but they can live without their McMansions. Or their 2nd, 3rd, or 4th homes, etc. I don't know how bad this would get, but we're not talking Somalia. Nobody's going to starve because of this. kj.