well its the hitting the prime now. banks are the cause of all this. first they lend to anyone, now even the ones with top credit are feeling the crunch. banks are getting on my nerves. i still think of the elderly couple who killed themselves and their two dogs because they thought they were going to lose their home.  i will always think of them, i hope their family sued the socks off of that mortgage company.

The predatory lenders need to be held accountable for getting people into this mess!  I had to qualify for my mortgage and I had to put a nice chunk of my own money into the place as a down payment.  I didn’t rush out and refinance the place when the rates were all over the place and I did not sell my place and get something I couldn’t afford.  I religiously paid my mortgage note each and every month and paid the place off early.  Now the money that was going into that house every month goes into the bank and earns me interest instead of the other way around.
. Getting the government mixed up in this will cost us all before it is all said and done.  Just like them taxing me to death, then giving me a small portion of my money back as a rebate while they give even more of my money to people that have not paid a dime in taxes.  Grrrrrrrrrrrrr

What’s the difference between bailing someone out of a mortgage and welfare.  “oh I lives on welfares because I cants feeds my childrens.” Well to be honest with you I got a house with conventional 6% loan after Katrina and lived happily ever after.  My brother had no roof over his head and I was socially pressured to sign a 10% home loan so he would have a place to live.  A 10% home loan is akin to a loan shark.  Every not I pay is interest, not insurance no taxes, interest.  But, They gave me that loan because I had 10,000 down and they knew what they were getting into.  I didn’t have a choice my neice was homeless. Do the math it dont add up.  They are loan sharks and the government knows this is illegal.  I signed for that house under duress.  If he had section eight I wouldn’t be posting right now…...

Granted, there are a few extenuating circumstances in some of these foreclosures. But the vast majority are people trying to live beyond their means. Really, can anyone who makes $50,000 a year afford a $300,000-400,000 home? NO!!!! Look at all the property at the beach being foreclosed-trying to live the high life and can’t afford it. And peopl not using common sense by agreeing to go with an ARM so they can get more, not what they can afford. Stupidity-and I am glad this is not a 100% bail-out, that it will have to be re-paid. I’m sure if the Democrats would have gotten their way, we would have just handed the homes over and let the government pay for them. I don’t always agree with MeAmerican, but this I 100% do-your problem, not mine. Plan better and live within your means-it’s really not that hard to do.

MeAmerican, thank you for those kind words of wisdom, but like i said not all these people are guilty of not using their brains.

No one should be bailed out. If they had used the brain in the first place, they wouldn’t be in a crisis situation. Credit counseling good! A lack of planning on someone elses part should NOT create a crisis on my or any other tax payers part! Drive on past the starbucks and fast food places. Stop smoking and drinking. And most importantly, quit being so concerned with your image and work on character. This bleeding heart crap has got to stop. Compassion is one thing. Stupidity can’t be fixed, helped, or redirected to my wallet.

mburgha256, i sure hope you never help. not all these people bought homes they could not afford. no one should lose their home. if we can afford all these hand outs abroad we can afford to help americans from losing their homes.

I’m not sure I understand that comment either.

I was wondering if mburgha was mad b/c someone needed help w/ their mortgage .. or did i read your comment wrong…

There you go, another porson who DID NOT have enough to get the job done. And the lending institution. Did anybody check that they had the income to afford that house? Get the mortgage and then sell it to a bank or private financial house.
Now with this bill passed and signed into law, ALL of us are gonna pay.