February 18th, 2009
09:33 PM ET

Evening Buzz: Housing Help

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/POLITICS/02/18/foreclosure.plan/art.foreclosure.gi.jpg caption="President Obama's $75 billion home foreclosure plan would benefit 9 million borrowers."]
Maureen Miller
AC360° Writer

Tonight, we'll have the latest on Pres. Obama's $75 billion plan to help homeowners. It targets two groups: Homeowners who owe more than their home is worth, due to falling real estate values. And, those families without a paycheck and having a tough time paying their mortgage.

Pres. Obama says the plan will help up to nine million families restructure or refinance their mortgage so they can avoid foreclosure.

Some of the key parts of the rescue plan:

– Refinance loans for homeowners currently making payments, into a 15-year or 30-year loan with a fixed rate of interest.
– Encourage lenders to cooperate by offering them $1,000 for mortgages that are modified successfully
– Modify loans for those who are struggling to make payments. The goal is to bring payments to no more than 31% of a borrower's income

You can get more details on the plan HERE.

Pres. Obama stresses this plan is for only those who "played by the rules and acted responsibly."

"It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans. It will not help speculators who took risky bets on a rising market and bought homes not to live in, but to sell. It will not help dishonest lenders who acted irresponsibly, distorting the facts and dismissing the fine print at the expense of buyers who didn't know better," said Mr. Obama today.

Others aren't happy with the plan at all.
You'll hear from them tonight, as well.

Could your home join the nearly six million others in foreclosure or at-risk for foreclosure? We want to know what you think of the plan. Share your thoughts below.

And, join us at 10pm ET for this story and more.
See you then!

Filed under: Maureen Miller • The Buzz
soundoff (144 Responses)
  1. Grace

    If thousands of houses are being foreclosed and thousands and thousands of people are loosing their houses where are these people. I don't see them roaming the streets with suitcases.
    They have walked away free from the mess they made and are getting help from the government to get a brand new home.
    I did everything right, no matter what any lender or bank tells me I know what I can afford or not. Is anybody going to reward me for doing right?

    February 18, 2009 at 11:47 pm |
  2. Stan

    How in the world in 2009, can a News Paper disrepct the President in the matter, that the Paper did today? Anderson, you asked the question as to was it racial, Hell yes thats racist. To any Black person in America it was racial. Who ever wrote it should be fired Immediately. Why do some people in this Country, still try to keep the racial crap going, when President Obama is trying to pull us out of the mess that Bush put us in! It's very clear that we will never have a race less society. When will people treat people as people regardless of their race, probabley never in my life or the worlds time left to remain a Planet. Freedom of speach is our right, however a line should be drawn when it attacks a person race, some people need to really grow up. Who ever wrote the cartoon should really be ashame, this is 2009, lets stop the crap please people.

    February 18, 2009 at 11:44 pm |
  3. Peggy

    Those who are lucky enough to have a job and an affordable mortgage, remember that all taxpayers subsidize your interest on your home.

    Also, remember that even Alan Greenspan said that – oh gosh, not all businessmen are completely aboveboard. Therefore, the market does not simplyu run in natural cycles.

    February 18, 2009 at 11:44 pm |
  4. Nita Daniels

    Most people, no let me speak for myself....I could afford my home when I purchased it but I've been layed off, my home based business has gone bankrupt and I now work three jobs to make what I made on the one job that I was layed off from. That's the only way I'm making my payments. I'm not lazy, nor am I waiting for a handout but I NEED HELP. I'd like to work one job and spend time with my children and not take the chance of loosing my home. We're bailing out all the banks and other industries with my taxpayer money but we can't get any relief. I'm shocked at the comments of others, not wanting to help those in need. Jobs are scarce. I've seen college graduates fighting for jobs that teenagers usually work. Come on people, where is the compassion???

    February 18, 2009 at 11:44 pm |
  5. Jean Reed

    Commenting on the cartoon script. Any body in their right mind knows that was a race attraction. They are literally comparing the monkey to President Obama. As for Ron Christi, what world is he living in. To say that this was not racist tells me he does not need to be in a panel discussion when it comes to race. He is indeed confused. Yes the world has come a long way, but brother it still has a long way to go so you need to wake up and smell the coffee...

    February 18, 2009 at 11:43 pm |
  6. Lois

    I would like to know what all these bail outs are teaching thec itizensof the United States? I paid faithfully on a mortage for my house for 30 years at an interest rate of 9.4%. I never missed a payment! Sometimes I would work extra to make sure I could afford to make the payments. After 36 years of marriage, I got a divorce. Consequently, I had to sell the house and divide it with my ex-husband. Then, I had to find a new place to live on the money I had and could afford. No one bailed me out of this situation, and told me they would help me find a new home. I currently am retired, but continue to work part time so I can take care of myself. What about the vast amount of money I lost in my annuity? That money was to help me live comfortably after retirement,? Now most of it is gone. Where is the government now? Will they support me in my "golden years"? I put that money in an annuity for 30 years, plus paid all my bills, The lesson should be: Don't spend money you don't have.

    February 18, 2009 at 11:40 pm |
  7. julie

    alot of people who are loosing there homes are hardworking people who are out of work. back in my day they would just have to live in an apartment. and try to get back on there feet. but without jobs who cares if the bank wont give you a loan you would never qualify anyway.

    February 18, 2009 at 11:40 pm |
  8. Vladimir

    I am a homeowner like many others that make payments ontime but everyday we pray for America to be united and this crisis is the best test for that idea to be put in practice. Like many other people, I do not see why people were able to buy houses that then they couldn't afford but also that people were told to buy with many of the loan programs offered by lenders. So, are we united at all the times or just when it is convenient for us but not when we have to make a sacrifice? Let's get all united and help those ones that need our help. My tax money is my sacrifice and I believe in America. Go Stimulus Package.

    February 18, 2009 at 11:39 pm |
  9. Ecocollapse

    So what do I tell my new born nephew who will be responsible for mortgage payment assistance relief for the irresponsible who tapped equity out of their castle to purchase new vehicles, boats, flat screen TV's, etc.

    February 18, 2009 at 11:38 pm |
  10. Robert, Los Angeles

    Grow brains that work, people. Yes, houseing prices will return in 5 to 10 years. Yes, it is upsetting to see the government bail out reckless borrowing habits. Cold hard reality: The mentality of those burned in this recession, i.e. the scar, will last for a generation. IOW, Kansas is going bye-bye.

    February 18, 2009 at 11:37 pm |
  11. Jeff

    By my estimate, we will be borrowing nearly 3-4 trillion dollars over a period of about 3 months so that people in this country will not experience the consequences of their bad decisions. Instead of another bailout, I recommend sitting down with someone who was alive during the Great Depression to get a better understanding of true sacrifice... that is if they have time between texting friends at their local Starbucks.

    February 18, 2009 at 11:37 pm |
  12. Linda C

    I've been responsible, purchased a home I could afford, worked for the same company for almost 10 years, in may of 2008 was laid off , the billing department was outsourced. My credit score then: 716, now 504. Up to now, I have never fallen behind on my mortgage payments, but still do not have a job. Unemployment runs out in 3 weeks, Even if I obtain employment in the next 2 weeks, will there be help for me.
    I do not have a Fredie Mac or Fannie may loan, so how do I keep my house?

    February 18, 2009 at 11:37 pm |
  13. Peggy

    Is this discussion fair and accurate when only the possible cost is mentioned. There is no comment about the cost to the taxpayers if we do nothing.
    on housing – the bank appraisers over-priced many homes for the purpose of the loan. If the appraisal is higher, the bank can feel justified at lending on the higher loan. Now, home prices across the nation are going down, and the bank finds that its loans are greater than the value of the houses. So they can't refinance the house which now is cheaper than the existing loan. (the collateral is not large enough.)
    On lending to the states so that teachers and firemen and policemen are not laid off – these teachers, firemen and policemen will now be able to pay taxes. If they are laid off, they will receive unemployment income. (Out of the government pie. – the insurance should have been paid to the government by the companies now laying people off.)
    People who are working and being paid above the poverty line, pay taxes. People who are not working must receive some assistance from the government.
    We like to call ourselves a Christian nation. The Bible says that employers must pay a fair wage. Ofter we don't.

    February 18, 2009 at 11:37 pm |
  14. mary

    I am so sick of hearing that those of us that paid our mortgage right, should be happy because your foreclosed house won’t hurt mine since you get a bailout. Well let me tell you there are no houses in my neighborhood that are foreclosed, we had one 2 years ago, and that’s it out of 80 homes in my neighborhood.

    I want $1000 a year for paying my morgaged on time.

    February 18, 2009 at 11:36 pm |
  15. Jean Reed

    why is everyone asking so many questions now that we finally have a President that is trying to work toward helping those that are not able to keep up with the times. It is so amazing to me to hear all these controversial statements. Where were they the last eight years when everything was going under? Were there any questions to the previous President as to "what are you doing"? My opinion on this particular bill is please let the President do what he has the power to do. If it fails, it can not be any worse than our previous President's work.

    February 18, 2009 at 11:36 pm |
  16. Eleanora Janelle Marshall

    I lost my job 4 months ago . I worked for a builder in Florida. for seven years and we paid our mortgage on time. I just received my notice of foreclose tonight at 10:35Pm. I made a deal with the bank and they sent the paperwork on Friday the 13 of February, and they gave me 48 hours to respond.. Monday was a holiday. I receive a check from unemployment every two weeks in the amount of $550.00. I care for my disabled sister who is going to have surgery at Cleveland Clinic in a few weeks.for cancer of her pancreas I am not receiving food stamps because they say that I make to much on unemployment. I have no savings and I am 55 years old. The bail out program is for the people who have a job. Try finding a job in Stuart Florida. I am not lazy, I attend. school every day, in hopes to have a new job when I finish

    February 18, 2009 at 11:36 pm |
  17. Lee Figueras

    Anderson Herein lies the problem,you just touched on the topic without going into deep detai; about the rest of the conversation. On lou Dobbs tonight he polled his listening audience and it came up 63% of the people polled admitted that they were scared to talk racial problems or even talk about them. I am not afraid to discuss racial indifference, because I do it on a daily basis. I have white friends that I normallyh have over for dinner or other social ocasions and able to discuss in detail different views on race. Never had a problem, and we are still close and dear friends with both men and women of the opposite race. we all hve a very good relation ship built on love and trjust for each other,and I woul not have it any other way,so Eric Holder used th\e right word when he said "Coward" that term is not relegated to just one side of the problem he said "America" and that includes Afro-Ameridans and caucasians'Mecican American and Asian Americans he did not leave any one out. I think tht he even included the "KKK" and the Arien Brotherhood especiall the two latter groups thas spew out their raciall dogma and hate.

    February 18, 2009 at 11:32 pm |
  18. Don - Terre Haute

    Obama is doing what we elected him to do and that is take rational, well planned and rapid action to stabilize our economy. Housing difficulties are one of the central concerns. It is a crisis area needing immediate relief or we will see pockets of real financial disasters around the country. I am certainly happy to see American money being spent thoughtfully here in America, knowing there will be somethng to show for it that we can continue to build on.

    February 18, 2009 at 11:31 pm |
  19. F. D. Biddle

    Let's see, it was Fannie & Freddie loans that caused the housing problem. Now, those people that couldn't afford their original loans are going to get another loan paid for by the tax payer?

    February 18, 2009 at 11:30 pm |
  20. Dora Gomez

    My son, who is 28 years old purchased a house in March of 2008. He has never been late on his house payments, but he has had to sacrifice on other things. He bought a home that was priced at a decent amount for his income. I don't understand why these people that purchased homes beyond their means, now have a way of getting a better deal. Sometimes these same people are driving nice new cars that are also beyond their means. While my son is responsible and has learned to do things the right way, others are going to get help from our tax money. This is not right President Obama!

    February 18, 2009 at 11:29 pm |
  21. Stephanie in New York

    Bravo Cecil (11:06pm). This is not about me, but about "we, us and ours." I was very opposed to another bailout plan until I heard the principles for this one. I agree that implementation will be a problem, but I'm especially glad that luxury homes (non-conforming loans) are excluded. Forcing luxury homeowners to downsize to median housing will kickstart the housing market.

    February 18, 2009 at 11:29 pm |
  22. CHUCK

    Hello Anderson,

    Please let's move on like Barbara said in the piece on the mortgage bail out.....Yes, folks bought more than they could afford, but it's done . Why oh why are you or anyone else beating it into the ground????? Thank Jesus I can pay my mortgage so far, but Andy, you never know........

    Thank You sir,


    February 18, 2009 at 11:28 pm |
  23. Arby

    People need to wait and read/or get legitimate information about the plan. I see people here that haven't a clue blasting the bill, which will in fact help them too... WTF? The more I blogs and read comments from :America", the more I'm disappointed with the political savvy and knowledge of "the people". We have become a bunch of morons basing our opinion on sound bites from political pundits... People, do some research and get the facts; raise our country up and lift America up to be a country for all our citizens – please...

    February 18, 2009 at 11:27 pm |
  24. John Souza

    Obama's plan to help homeowners and stabilize home prices is off the mark. It's too complicated and a classic example of trying to wag the dog by the tail.

    I have a much better plan. It's simple and direct. It will result in millions of Americans injecting capital into the housing market, thereby stabilizing homeprices quickly. It will require minimal investment by the taxpayers. It won't require passage of any legislation. It is centered around the government's majority ownership of Freddie Mac and Fannie Mae.

    The plan:
    Lower long term fixed rate mortgages to about 4% for just as much time as is needed, while maintaining high qualification standards and requiring substantial down payments. Yes, some investors and speculators willing to take the risk will no doubt benefit. That's the way capitalism works. Obama and friends; is capitalism dead?

    February 18, 2009 at 11:27 pm |
  25. tina Lopez

    24 years ago my husband and I built a home. The interest rates for a home loan were 14.75%. Yes , you read it right. I was 6 months pregnant , and we took turns standing in line day and night, Friday thru Monday to get a home loan at 11.75%. We did get it, but at those rates we had to build a smaller home than we would have liked. But you cut back when you have to. Where was our government at that time? No one bailed us out! It is so infuriating to read about people being bailed out because they wanted it all and were not willing to sacrifice anything, like we were forced to do. Most of these home owners could get second and third jobs if needed to save themselves. I want the government to repay us too! Reward us. Thanks for listening. Tina Lopez

    February 18, 2009 at 11:27 pm |
  26. Helena Guerrero

    2 point solution for the housing crisis:

    1- All mortgages taken between 2004 – 2007 ( or so, peak years for housing bubble) should be lowered to the actual sale prices of 2009.
    2- Everyone should be able to refinance at current 30 years low fixed interest of 5% or less

    The greed of Banks and Mortgages industries created this bubble and we, the people who bought homes at superinflated prices should have them priced down to the real value. Otherwise there is going to be thousands if not millions of homeoweners who are going to walk away from their overpriced homes and eventually try to buy another one at the cheaper lower prices.It's actually already happening.
    The banks who overpriced the value of houses should be responsible for this, not we, responsible homeowners who have done nothing wrong.

    If someone can not afford this 2 point program, then they can't afford to buy a house or keep their house right now.

    Part 1 of this mortgage crisis has been interest only fixed 3, 5 years mortgages turning into variable plus principal mortgages. .
    Part 2 is going to be millions leaving their over priced homes..

    February 18, 2009 at 11:26 pm |
  27. Jackie Johnson

    Most of us are angry over what has transpired in the economy over the last 6 months; however, in order to correct the many off-shoots from the bad judgements of buyers and lenders to include home values going down to massive layouts, etc., I belive this is something that must be done.

    Down the line some of us might even be able to go back to working only "one job" to make ends meet and two jobs to get ahead.

    We've all fallen into the well and now the only important thing is to get ourselves out, even if it means that some of the perpetrators will be saved with us... "greed" how sad....

    February 18, 2009 at 11:25 pm |
  28. Joe K

    Just saw the clip with the guy from Gillette, NJ. Like him I'm fed up paying for the mistakes of others. 10 years ago last Sept the NYTimes published an article after Pres Clinton opened the sub-prime market; they predicted this!! In the dot-com crash of '01-'02 I was laid off after 20 years with AT&T/Lucent/Agere as an electronics engineer. I was out for 2.5 years. I put myself back in school using Federal loans, to better myself. While out I tried to apply for food stamps; I was told because I was worth more than $250 I could apply. I was forced to dip into my IRA twice. Not only did I pay 10% taxes; but I had to pay the 20% early withdrawal. That's the full tax rate of regular income!! No exception for hardships! After graduating with my MBA; I paid off the loans in under 2 years. I work hard for what I have, I scrimp and save for my retirement. Now I'm going to pay for the mistakes of others. Am I "disenchanted" with our gov't (Rep & Dem)? You bet I am!! Now my gov't is going to "spend like a drunken sailor" and decades of telling me Americans need to save more. The government speaks with forked tounge!!

    February 18, 2009 at 11:25 pm |
  29. Ed H.

    Some folks are missing the whole problem at hand. The help that will be offered by way of stopping foreclosures is not being made as a helping hand. It has been enacted to try to stop the plummeting housing market and values of existing homes. They must stop the spiraling downward of housing values and sales market. The only way to do this is to stop the foreclosures.

    Do not take this personally – it is not a slap in the face to all the “hard workers” and it is not a “hand out” for those that can’t manage their affairs.

    It is a methodology to stop the economy from tanking and if/when it works, we will all benefit from it. Get over it and pray it works!!!!

    February 18, 2009 at 11:24 pm |
  30. F. D. Biddle

    It is the time of the inept and irresponsible being rewarded via getting their neighbors' hard earned dollars. And, the neighbors have a ton of fertilizer pilled on them telling them how this is in their best interest?

    February 18, 2009 at 11:24 pm |
  31. Tessa

    I do not like the idea that only certain people are allowed to refinance their homes or lower their payments. When we bought our home in 2005 we looked at it as a long term investment, a place we can retire to when my husband retires from the Navy. We tried to stay within our allowable income when looking at homes so that if we had to move and couldn't rent it out we would still be ok to make our payments. Our home is, like many many others, now worth less than it was when we bought it just 3 1/2 short years ago. I think if you are going to offer help to home owners it should include all home owners, including those of us who were responsible enough to stay with what we can afford.

    February 18, 2009 at 11:24 pm |
  32. Toyotu

    What I don't understand why is we all are crying about Obama is doing. Remember you have look at where it really started. When you are a honest person you speak the truth and except the truth. There are too me voices speak without thinking. make a lot noise but yet haven't heard what they have said. The old sayinging KISS people it really works.

    I see Obama creating a opening for most American. There were some people at the top got greed.
    It took 8 years to bring the country to ground to be rebuilt. Some it is easier to rebuild than to repair. Some things are unrepairable.

    I thinik we will come out the a smile on every American face.
    We must keep in mind.. In God we trust in the country... Let keep it in faith.


    February 18, 2009 at 11:23 pm |
  33. Marilyn

    Re: Housing Help

    When I returned to real estate sales a couple of years ago, I was horrified to hear that lenders were closing their doors because of some of the 2-year adjustable loans they made to folks that only qualified for the "teaser" rate! THEY should be paying now, not the taxpayers. If someone had the smarts in the very beginning to freeze the rates at the teaser rate when this mess started, before the foreclosures started, we wouldn't be here now. Any lender that made such a loan should be required to foot the bill. It was NUTS to think home prices would never come down again. Who were these morons! Sounds like the same kind of morons are making up the "fix".

    February 18, 2009 at 11:23 pm |
  34. linda iowa

    Instead of giving money to financial institutiions that have proved they are not trustworthy, lets divide the 350 billiion they are supposed to get and divide it among taxfiling households. Mortgages would be paid plus other bills. Those that are not in trouble with their loans would have money to spend and infuse the economy. Maybe buy a new car! I beleive that was the promise fix the economy from the bottom up!!!!!!!!!!!!!!

    February 18, 2009 at 11:23 pm |
  35. Stacy from the south

    I'm from an area that where mobile homes and remodeled farm houses are common. We work hard, live within our means –even if that means mobile homes– and pay our taxes. Now we have to pay for folk that can't pay for their 3000 square foot homes? Who's snobby now?

    February 18, 2009 at 11:23 pm |
  36. carl adams

    We the people – more like the have and have nots! How can people making over 100k really sympathize with the public who makes less than that.We get upset and angered over athletes who cheat or smoke pot but the idiots that let this economice mess happen by being greedy get billions more to right the sinking ship?? You want to stimulate the economy take the almost 400 million legal residents and give them $250k If that wont stabilize the hosing and car industry nothing else will! Evrybody is pointing fingers and nobody is really doing anything Fire them all!

    February 18, 2009 at 11:22 pm |
  37. Angela

    Our mortgage company denied our request to modify our loan into a fixed rate loan. They increased our payment $500+ just last month. Will the plan help people like us? This is ridiculous.

    February 18, 2009 at 11:22 pm |
  38. Donnazetta

    Who cares if some people who don't deserve it benefit, we need to help this economy and sitting around doing nothing won't help. Yes we our hardworking people and I don't look at this Bill as a handout, I see it as helping our Country move towards in the right direction.

    February 18, 2009 at 11:20 pm |
  39. xtina, chicago IL

    "Inez" above has a good point. Wall St. and mortgage giants can get a blank check; they don't have to "qualify" for their money. Yet many many Americans will not "qualify" for the loans they desperately need.

    February 18, 2009 at 11:20 pm |
  40. RhondaJ

    People are being hurt by the housing crisis. Not everyone hurting was irresponsible. We, who are paying our mortgages are hurt by those who cannot – so we all benefit by the stimulus. I am not hurt by you losing your car. Your foreclosed, empty house does hurt mine. btw – the price of the house does not indicate living beyond your means. I own a 1m house and it is not beyond my means. get over hating those that can. I have a friend who owns a $150,000 and because of a change in her situation- she can not make her payments. She wasnt irresponsible either. We need to stop asking why and try to offer people a solution to their problems

    February 18, 2009 at 11:19 pm |
  41. pat

    i have just lost my job and tried to be proactive and called my mortgage company to explain my upcoming situation. The response I received was that I had to be at least 90days past due before I could receive even an application for modification. So should I let my mortgage get behind instead of paying (which I can do) it would be a real stretch and my credit would suffer

    February 18, 2009 at 11:19 pm |
  42. Jay

    Thank God for the present President, I am 62 years old, my husband got sick and I had a major surgery. I have been in my house for 24 years. I missed 4 payments and in jeopardy of losing my house. I am hoping this will help us. I don't have a new home but a home I worked hard to keep. We build our house and worked two jobs all our lives. I pray this will help us. Good luck to all who are in need of losing there home..Help is on the way.

    February 18, 2009 at 11:19 pm |
  43. Alan

    Love your show.
    I thought the sub-prime mortgages were bundled and sold all over the world? If so,how can the US banks reduce interest if they don't own them.Or was this just another lie by the government and Wall Street ?

    February 18, 2009 at 11:16 pm |
  44. Adrian

    Where are all these people coming from? Do you really want a socialist/communist country where the government regulates everything? This is what is wrong with our society right now. The word to explain it is a sense of "entitlement". You are owed nothing. Work hard and make right decisions and you will be ok. We must learn that there are consequences for our actions.

    February 18, 2009 at 11:16 pm |
  45. Levi Mize

    The only reason I continue to pay my taxes is out of fear but my anger is about to overcome all my fears. I am sick and tired of this government rewarding deadbeats. It's not just about housing, it's about single mothers who have babies I have to pay for, it's about illegal aliens getting food stamps, health care and schooling at my expense. It's about giving my money to banks to loan back to me for a profit or them rewarding themselves with huge bonuses. It's about giving my money to corrupt, greedy institutions that deserve to fail. It's about time I start getting some representation from a government I am forced to support.

    February 18, 2009 at 11:16 pm |
  46. Ed H.

    Some folks are missing the whole problem at hand. The help that will be offered by way of stopping foreclosures is not being made as a helping hand. It has been enacted to try to stop the plummeting housing market and values of existing homes. They must stop the spiraling downward of housing values and sales market. The only way to do this is to stop the foreclosures.

    Do not take this personally – it is not a slap in the face to all the "hard workers" and it is not a "hand out" for those that can't manage their affairs.


    February 18, 2009 at 11:15 pm |
  47. Rose

    I understand the frustration of those who are current on their mortgages of overvalued house because I am one of them. Still, as a person of faith I can't condem everybody as "siners of the housing feast" because I know of many honest individuals who can not afford their payments because they lost their jobs.
    A little bit of kindness could help us all.

    Lake Mary, Florida

    February 18, 2009 at 11:14 pm |
  48. Adrian

    What is going on? Are we creating a country of people looking for hand outs? Why are the hardworking, honest people getting the shaft once again? Why is this new president and out of control congress creating a welfare state? Did I wake up in bizarro world?

    February 18, 2009 at 11:13 pm |
  49. Barbara J. Harris

    It is really discouraging that people kept expressing their resentment about other people getting helped by the Housing Recovery Plan. First of all, it's completely shortsighted–since all of our houses will lose value if the mortgage & foreclosure crisis continues. But it also reflects our lack of community and concern about the prosperity of the country as a whole. People who don't need help should think about the advanges, personal or structural, that accounts for their good fortune. The measure of a society's decency is how it takes care of those who are less gifted, more vulnerable, and less lucky.

    February 18, 2009 at 11:12 pm |
  50. Cal

    Why doesn’t Obama plan have a value cap? If someone has a $750,000USD home and is facing foreclosure, and the average home value in their area is $300,000USD … why subsidize that? I think that Americans with jobs and no current foreclosure concerns want to support struggling Americans with average (or below) salaries buying modest homes. The divisiveness that will continue on this plan is an image of people being subsidized while living in above average homes. When a person has no liquid cash, no home value, and no alternatives, they no longer need to be living in an above average priced home. It is not a right.

    February 18, 2009 at 11:12 pm |
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