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February 18th, 2009
09:45 PM ET

Live Blog from the Anchor Desk 2/18/09

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Filed under: Live Blog • T1
soundoff (976 Responses)
  1. Isabel Abreu, Brazil

    Anderson,
    Indeed, we wanted was you to do the same as John.
    We know you control several things in show, and live, but it would be wonderful to have you here more, with us!

    February 18, 2009 at 10:24 pm |
  2. vanessa from silver spring, MD

    Vincent

    I hope the rest of the Yankee fans out there feel the same way.

    On the Holder comment today, I understand what he is saying but I don't know if he should have sayed it in that setting.

    February 18, 2009 at 10:24 pm |
  3. MaryBeth

    I'm pretty sure the banks can figure out if someone, like me, makes 30K a year, and bought a 300K house, I can't afford that, so I will not get help, because I should have known I can't afford a 300K house. And to even think I could afford such a house, would have been a delusion of grandeur. I would deserve to lose my house and not receive help. I'm all for that plan.

    February 18, 2009 at 10:24 pm |
  4. Sonja Franklin

    Good Evening,
    I am a Realtor as well as a homeowner that bought in 2006 when home pricing was at a high...
    Everyone is talking about what people should not have done and how reckless people been who bought homes they could not afford.
    Little do we talk about that people trusted in Real Estate beeing a safe and sound investment.
    Homes have declined more then 30% in our area. People are unable to sell their homes, for what they bought it for.
    Appraisals are dropping monthly.
    WHy do we call the "people" irresponsible?
    I am a Realtor and been in more ways then one effected by this...my clients can not sell and the banks are not responding well with short sales. Over 5 month I had willing buyers but the bank does not cooperate even so my clients lost their income.
    I know I should keep this short but would have so much more to say.
    Cooperation is needed....and people need to stop calling homebuyers who purchased a the wrong time irresponsible
    Sonja Franklin, Realtor
    ERA, Neil Fischer Realty, Leesburg, Fl.

    February 18, 2009 at 10:23 pm |
  5. Candice Wood

    What happend to all that unity we had on inaguration day? Aren't we all in this together? I know it seems unfair that some people are going to benefit from the mortgage bailout who shouldn't but you know what it really doesn't matter. The most important thing is to get ourselves out of this mess and if that means helping people who may or may not deserve the help so be it! I'm thirlled to have my tax dollars help as many needy americans they can! Let's all get on board!

    February 18, 2009 at 10:23 pm |
  6. Julie

    I don't get how this will mortgage bailout will help the neighborhoods that have foreclosed homes on the street. If these homes have been forclosed on and are vacant, they'll still be vacant. Who's kidding who here?

    February 18, 2009 at 10:23 pm |
  7. Bridget, TX

    Spot on Mr. Attorney General, let's talk about the big elephant in the room.

    February 18, 2009 at 10:23 pm |
  8. Serge in Chicago

    I can't believe the Race card is being pulled?
    I don't get it?
    We live in harmony what is the big deal?
    Not fair.

    February 18, 2009 at 10:23 pm |
  9. elizabeth

    What about those of us who are in the process of closing the sale on our home, and have gone through the short sale process because of the current market- will this plan help us maintain our credit rating because the bank is basically taking the hit for lowering the price of our home so it will sell?? We have never missed a mortgage payment but had to drop the price and go through a short sale because my husband's job took him to another state. Our family has been apart for almost a year because the house was not selling at its value- what happens to us??? Yes, we finally sold but we will not gain a nickel and we will probably take a huge ding on our credit rating.

    February 18, 2009 at 10:23 pm |
  10. JacquiChan

    very true and well said hopefully since race issues wont be solved overnight atleast these problems should be openly disscussed

    February 18, 2009 at 10:23 pm |
  11. Maria

    Just wanted to remind you that Wall Street, the 3 Auto companies, not to mention Banks and other financial insitutions HAVE been "Rewarded" for mismanagement and golden parechutes, so it is about time, foreclosure home owners, who, with the help of greedy banks, help them get in over their head, are "rewarded" in the same way.

    February 18, 2009 at 10:23 pm |
  12. Dodie from Irvine, CA

    Jim:

    because of the fear that the housing market will tank even more...

    February 18, 2009 at 10:23 pm |
  13. Gayle, Columbus OH

    BettyAnn,
    Good luck with the surgery. This IS a scary time to be spending extra money.
    I have insurance, but my deductible is $2800! I pay every penny up to that amount. Had to have surgery last year that I'm still paying on, while my deductible has kicked back in as of January 1. I have no credit cards, no mortgage, no car payment.....but I'm sinking farther and farther into debt through no fault of my own. I'm just one of many millions and it's just outrageous that this happens in our country.

    February 18, 2009 at 10:23 pm |
  14. Andrew, MD

    @Sabrina – There have been a number of plans put forth, but they have not either been executed on or listened to. The President is making an effort, but please don't say he is the only one trying to do something.

    February 18, 2009 at 10:23 pm |
  15. Marian

    If someone cannot pay their rent will we get help from this bail out?

    February 18, 2009 at 10:22 pm |
  16. Audrey

    Bush and the Republicans started this economic fire, and now President
    Obama is trying to put the fire out.

    February 18, 2009 at 10:22 pm |
  17. liz

    Everyone keeps talking about helping out the homeowners and how exciting the Obama plan is. The real problem is most of the people who would want to get these loans cannot qualify. They bought a house as self employed or well-employed, and today no longer makes the same amount of money or these loans will not be allowed for a self employed or person without a job history on the same job for the last 2 years. This is why people are in this situation also, not just that the market has dropped.

    February 18, 2009 at 10:22 pm |
  18. Kevin

    Roland,,, does he have anything good to say?

    February 18, 2009 at 10:22 pm |
  19. Alice

    I agree with President Obama that the bailout money should not go to banks who made the home loans to people who claimed to have jobs as self employed but really did not have a job and gave them 100% financing to boot. I would be willing to bet that this applies to the majority of the homes currently in foreclosure

    February 18, 2009 at 10:22 pm |
  20. Bobby A

    Who does Eric Holder think he is calling us cowards after we just elected a black President and he just got the first position held by a black. What is the issue??? We have alot more problems than what he is trying to make an issue, he needs to do his job not start controversy. Maybe I don’t understand the new washington politics….

    February 18, 2009 at 10:22 pm |
  21. Sharon S

    Please Anderson let everyone know these animals DO NOT think like Humans their thinking and behavior is so different!!! Not in a bad way just in a different way!

    They are behaving in instinct!!! THEY DO NOT think like us! Most Vets and people who work with animals know this and do not recommend anyone having them as pets!

    February 18, 2009 at 10:21 pm |
  22. Mark

    I think we messed up the past few dcades, Can we get a do-over?

    February 18, 2009 at 10:21 pm |
  23. Olga Serraty

    I don't understand how this plan will cure the problem. If lenders are not obligated to modify these loans, then they will pick and choose which loans they will modify. One of the things they will look at is if the loan will perform in the future. If not it will not be worthwhile for them to modify. If some of these homeowners income has decreased, or they have lost their jobs, they are unable to sell their home due to the decrease in current value vs what they owe. How is a rate modification going to help these people? If the rate modification is not for the remaining balance of the loan, what happens when the 3 year or 5 year rate modification is due, and the rate goes back to original and the borrower's income has not increased and or the value of property is still under what they currently owe? How will the borrower be able to refi or sell property?
    How is this all going to work???????

    February 18, 2009 at 10:21 pm |
  24. Ray, Grand Rapids

    What about the checks and balances that take action against those who are falling into foreclosure, even when the home owner can continue to make payments. I have a friend's mother who can afford to pay her mortgage but decided to stop paying payments, because she can get away with it. Live in the home for nearly a year and save her money. She is at retirement age and doesn't care. This can't be an isolated situation.

    February 18, 2009 at 10:21 pm |
  25. EJ (USA)

    Anderson – I understand what Eric Holder meant.

    February 18, 2009 at 10:21 pm |
  26. Winnie

    Hi Anderson,

    Good to have you back!

    If this administration doesn't help with the housing crisis (which apparently began this economic recession), the economy will continue to get worse and our home prices will continue to slide.

    February 18, 2009 at 10:21 pm |
  27. Sarah, Richmond, VA

    Stringent guidelines which mean keep the vultures who wrote the original mortgages out of this.

    Educate as you rewrite so the buyer knows exactly what he or she is agreeing to repay.

    Have the buyers attend money management classes so they are better able to handle their finances.

    Good Night and Good Luck!

    February 18, 2009 at 10:21 pm |
  28. Kevin

    "nation of cowards",,, that's great,, we have a black president

    and a black attorney general,, and america is a nation of cowards

    February 18, 2009 at 10:21 pm |
  29. Deena

    Happy to see your return Anderson, but John King was also great.

    Domesticating wild animals is not a good idea, and in many ways is considered cruel to the animal. This experience with Travis, on Monday attacking the neighbor and his owner, is not an uncommon experience. I think this took place a few years back with Sigfried and Roy... it's a problem to try to domesticate a wild animal.

    February 18, 2009 at 10:21 pm |
  30. Lore

    Hey everyone, I am single, professional, with mortgage and I lost my job three months ago..I have some money saved so I am still making my payments but really I do not see the solution for a situation like mine. Can somebody explain to me where is the help for people doing the right things...
    thanks

    February 18, 2009 at 10:21 pm |
  31. ronald

    what type of oversight will be in place to ensure money is used for troubled mortages instead of big bonuses bank/lender employs?

    February 18, 2009 at 10:21 pm |
  32. Rick Ketchledge

    On the loan bailout story just aired.:
    over 6 years ago I lost my 23 year job at a major telecom co. to outsourcing and the telecom bust. We left our large home in Chicago, friends and family, moved to Las Vegas where we rebuilt our lives and my career, all with lowered expectations.

    Since then, even as realtors and family prodded us to upsize to a bigger home here, we did not, knowing you can never know when it might all get taken away!

    Now we are secure even as our modest home devalues, with a similar modest lifestyle and 'happy with what we have' attitude. We did the right thing. Others did not, deciding to 'compete with the Joneses' and go bigger and fancier even if they should not and could not realy afford it.

    We did the right thing, and yet it is me who as a taxpayer must pay for them? It is me who must pay in lost home value for their ignorance?
    I voted for our President, and 'get it' as to why he must bail out these folks, but I don't have to like it. No one was there for us in 2002 when I had to rebuild. We did it ourselves.

    Rick and Lisa Ketchledge, Henderson Nevada.

    February 18, 2009 at 10:21 pm |
  33. Glen Up North

    Scott, you're not being simplistic. But 9 million people times 1 million dollars is 9 _trillion_ dollars... or 120 times $75 billion. That's a _lot_ more than what he's currently allocating.

    February 18, 2009 at 10:21 pm |
  34. Doug

    How are the banks losing money by doing a loan modification? The interest rate is lowered, yes, but the term is extended over a longer period of time to make up for it. Isn't the real problem plummeting home values? What does the Obama plan do to help this?

    February 18, 2009 at 10:21 pm |
  35. Paul Thiel

    Over the past 10 years I've worked up to 5 jobs at a time to make extra mortgage payments. We made our final mortgage payment in December. Now I get to make the payments for an additional 4-5 million people.

    I'm so relieved I can do my patriotic duty and help spread the wealth...

    February 18, 2009 at 10:21 pm |
  36. Brandi - bottom of the boot

    goodevening all! sorry im late.

    welcome back anderson and erica! now, dont ever take that much time off at the same time again! lol

    February 18, 2009 at 10:21 pm |
  37. johnetta

    what about the average person who wants to owe a home? will it be easier to qualify?

    February 18, 2009 at 10:21 pm |
  38. Rebecca

    Hi Anderson,

    It seems that most people are angry that this money is going to people who have over spent on their homes and are now not able to pay their mortgage. However, I think it's important to clarify that Pres. Obama has said this money is for people who are current on their mortgages but are seeking to refiance to prevent a potential foreclosure. There's a big difference here. This is a preventive measure-this is not a bailout for those acting irresponsible. Anderson, the press has its role here in keeping people informed of the correct information. We don't need more angry people. People will start to snap soon and our problems as a nation will go to a whole new unimaginable level.

    February 18, 2009 at 10:20 pm |
  39. Sam

    Hello Anderson,

    I purchsed my home 2 years ag at $445,000, and my mortgage balance is $370,000, and now my home is worth $277,000
    My question is would this plan help me out, I am pying my mortgage on time?

    February 18, 2009 at 10:20 pm |
  40. Koko

    So glad to see Anderson back!

    From the very beginning I know I will not get anything from this stimulus plan. Not that I don't like President Obama, but every time, really every time, it's hard working, honest and responsible people paying for those who don't know how to plan their own lives.

    I like it you have new experts on the show tonight, experts on mortgages, that's what we need to hear about. More talk about our daily life please. I do want to know what will be a good time to do a refinance.

    February 18, 2009 at 10:20 pm |
  41. Don

    The biggest concern I have is the provision that lets someone collect $1000 a year if they make their payments on time. I have been paying on time for 25 years, why should anyone get $1000?

    February 18, 2009 at 10:20 pm |
  42. John Endert

    How does home value get determined by the lenders when the prices are dropping? Do the Banks not lend against this value?

    February 18, 2009 at 10:20 pm |
  43. Matthew Petchel

    Obama's explanation for how this bailout helps all of us makes sense if you live the kind of neighborhood where people lived beyond their means and there are many foreclosures. But in my middle class neighborhood, there are zero foreclosures. So, now tell me O – how does this help me?

    February 18, 2009 at 10:20 pm |
  44. Bill

    One of those working two jobs to pay for existing mortgage, equity loan for college. However, given the current crisis, my 401K has dropped about 50%. Since it's directly related to the real estate crisis and real estate is an un-secured investment, how do I get back or cover my losses in my 401K, that as I approach retirement age, will never support my requirements at this point in time?

    Bill

    February 18, 2009 at 10:20 pm |
  45. Carolyn

    I am 61, a widow of 4 years, my husband and worked hard all our lives to buy a house and save for retirement. My retirement is about gone due to stock market and I am sick of bailing the dead beats and cheats of the world out with my tax money. Everyone will play dumb but people knew what they were doing with this mortgage mess. I am just sick to death of this.

    February 18, 2009 at 10:20 pm |
  46. Anna

    This is so unfair to blame people for buying more house then they could afford. We do not blame those mortgage companies that approved those people to buy those houses. Also they talked people into refinencing and taking equity out of their home. I know I was getting calls from mortgage companies to refinance my home almost every day.

    February 18, 2009 at 10:20 pm |
  47. Conway Andersen, Jr

    Do homeowners who are upsidedown due to refinances (took vacations, boats boats, cars, etc) qualify for government help?

    February 18, 2009 at 10:20 pm |
  48. Anita

    My comment: In order to refinance at a lower rate, there are closing closts beyond belief, and it will take more time to pay the mortage.
    Banks are not giving the homeowners who pay their mortage on time any benefits to lower their interest rates. Trust me, my son went to his bank and they wanted close to $6,000 in closing cost to reduce his mtg. 200.00. No one talks about this.

    February 18, 2009 at 10:20 pm |
  49. Vamsi

    Hi,

    We recently bought a home and wanted to know what it merans that only those who come under Fannie Mae and Freddie Mac will be eligible for Refinancing.

    We have taken an FHA loan.

    WIll i be eligible for Refinancing?

    Looking forward for your response.

    February 18, 2009 at 10:20 pm |
  50. Jay Logan

    Obama's plan will extend the problems in residential real estate. All residential RE is rented or owned. Owners of rental real estate stopped buying when rents left parity with prices. ie. you could not make a real return because prices are too high or rents are too low. The presidents plan keeps renters from the market by extending thier painful slow realization that they were not meant to be home owners. When prices and rents come into parity the inventory will be sucked up like a vacuum cleaner went on. A plan could include incentives for rental property owners or shared price appreciation for LT renters.

    February 18, 2009 at 10:20 pm |
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