Resentment Grows Over Paying for Others' Foreclosure Misery

[mia]

Michelle Fry is a suburban Atlanta homeowner who has seen the value of her modest one-family home drop by more than half in the past year. She now sees a national mortgage bailout plan that appears to reward people who bought more house than they could afford and can't pay their bills. And she has a simple question for President Obama:

"Why am I paying for them?"

...That kind of frustration is being expressed at dinner tables throughout the country. Middle class homeowners who worked hard, played by the rules and paid their mortgage bills and taxes on time are wondering out loud whether the government is interested in helping them, too....

The president took pains to defend his plan against critics who say it bails out irresponsible buyers who spent more than they could afford.

"The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly," Obama said. "It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans. And it will not reward folks who bought homes they knew from the beginning they would never be able to afford."



http://www.foxnews.com/story/0,2933,497707,00.html

I agree with the sentiments expressed in this article. I fall among those who are stuggling not to go into forclosure. Fox news isn't wrong all of the time.

[Taverner]

1. Why are you paying for them??? So their foreclosure doesn't drive down you property value, fuckwad!

Christfuck - its all "memememememememe"

This is a fucking depression

Would that person be mad that they had to pay for food, but those homeless folks get all that free stuff at the soup kitchen???

[BrklynLiberal]

9. EXACTLY!!!! These must be the same middle class people who want tax cuts for the rich because

they think some day they will be millionaires!!!


What the hell ever happened to "There but for the grace of (insert your own supreme being) go I."

Anyone of those moronic complainers could be in the same position some day.

This type of complaint sickens me.

[pnwmom]

34. And you have to toss insults at mia because???

I think we should give other DUers credit for having their hearts in the right place, and not insult them with nasty answers.

I agree with the gist of your reply, but I think the tone of your response was uncalled for.

[Taverner]

35. I'm not calling the DUer a fuckwad, but the person in the article

If said DUer agrees with fuckwad, that doesn't make them a fuckwad

Just selfish

[pnwmom]

40. Even with those people, I think we'll get farther by acknowledging their

legitimate frustration than by calling them names.

For example, if your Rethug neighbor were to voice such a complaint, you could say: "I hear you. I know it must be frustrating, after all these years of paying down your mortgage. But all these foreclosures are lowering the value of your home, too. Your own equity is dropping. Obama's plan -- by reducing the number of foreclosures -- is going to help all homeowners."

[Kittycat]

54. What's frustrating, is people too singularly focused, too ignorant, or arrogant

to think beyond their own box of reality. They refuse to open the door to what is really going on, so excuse us for tearing it down and calling it out for what it is. What about me... WAHHHH. I have 5 houses for rent on my singular block right now, another for sale, and two have been foreclosed on (in a two block distance). The singular block behind me has had three homes foreclosed on, and two more for sale. I can't count the number that have been foreclosed on within that entire street within the neighborhood. At least 6, and no idea how many others that have been put up for sale and sold. And all this within the course of a single year. That's two streets, in a neighborhood with 700 single family homes, plus condos. Do the math.

Our construction market has collapsed, CAT is laying off, schools aren't hiring/cutting back - heck, we have two brand new schools sitting completely empty because we can't afford the teachers - so the classrooms are getting crowded. Local businesses are shuttering, as are major chain stores. With every closure - there's job loss. With every company that downsizes, another neighbor will eventually lose their home. There aren't enough jobs, there isn't enough demand - and everything is in the crapper.

So when people bitch about having to help those out that are caught up in this mess - fuck them. Because if we don't do something - tomorrow they could be the ones facing what those already are - and they might need a hand, too.

[pnwmom]

56. And without a plan like Obama's for housing, more and more people

who might invest will instead sit out on the sidelines.

For example, my sister has been transferred and has to move. First she has to sell her current house -- she'll price low, but even then who knows how long it will take. So she'll have to rent in the new state. But when her first house sells, I hope she's not in a hurry to buy in the new location. Her new city has many foreclosures sitting on the market, dragging all the prices down. On a financial basis, it would make sense for her to wait to buy until the market has regained some stability. Hopefully, Obama's plan will work, and people like my sister will feel relatively safe in buying homes again.

[Iris]

111. I doubt that would help. It'd be you against Rush, Hannity, Beck, and the like.

You'd get to say your 3 or 4 sentences nicely once. Then, off the neighbor would go to listen to more talk radio, watch more Glen Beck and whatever you said and however nicely you said it would just be squelched.

I'm just sayin'.... :shrug:

[DBoon]

42. so you don't have an abandoned house next door to you

with crack dealers setting up shop.

Do you thing someone else's bankruptcy doesn't affect you?

Do you think everyone else around you can be driven to poverty and you will be unscathed?

Oh yes, that's right, you are a republican. Of course you think that.

[IGotAName]

70. Yeah- AND so that banks will start lending people money again. nt

[zombiezneedluv2]

98. You know, you may have a point there, Dearheart, but do you have to be so

damn rude? Can you not express your opinion without calling others names?!

(And about your analogy? I don't buy it. Most people consider homeless to be those who never had much of a chance. We are talking middle-class people whose eyes were bigger than their wallets.)

[Retired AF Dem]

106. I don't give a shit

if someone else receives govt money. My problem is I'm barely hanging on as it is. If my taxes go up to support this I might not be able to afford my house.

[nc4bo]

2. I wonder why people are starting to feel this way...

could it be that the right-wing media has been whoring the class wars non-stop since the plan was announced? Naw, that couldn't possibly be it, could it?

On second thought - Fox and other Mediawhorse are looking for and finding the handful of people that feel this way, stick a microphone in front of their lips and say "Go for it".

Now the mediawhores can screech that a "majority" of the minority of Americans feel resentful.

ugh.

[BrklynLiberal]

12. You are right. The media whores are playing this for all it's worth.

That nutjob, Santelli who was screaming at the Chicago Board of Trade yesterday was on Hardball. Chris Matthews asked him who he voted for...Guess what? He voted for McSame. Anyone surprised?
It absolutely is an attempt to promote and encourage class warfare.

[GinaMaria]

64. here's more info on Santelli

His stunt may have been in the works for a while
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5102005

[ProfessorGAC]

79. And, He Knows Nothing

Look at his own track record. He's been wrong about every prediction he's made on CNBC about the markets, the economy, the election, . . .

And, he was supposedly a trader at one point, and therefore an expert, but there is no record of him having success beyond the standard valuation of the market.

This means he's CNBC's Joe the Plumber.
GAC

[GinaMaria]

85. CNBC's Joe the Plumber!!!!!! LOL

:rofl: good one!

[Raksha]

44. I think you're right.

Re On second thought - Fox and other Mediawhorse are looking for and finding the handful of people that feel this way, stick a microphone in front of their lips and say "Go for it".

Now the mediawhores can screech that a "majority" of the minority of Americans feel resentful.

And then they present these self-centered fuckwads as "typical Americans" or "real Americans" and convince the uninformed who may never have thought along those lines that they "should" feel that way--even if they don't.

It's brainwashing, and it's been going on for years. I think the right-wing media has been eroding America's soul, making us a more self-centered nation than we ever were before.

[burythehatchet]

77. GENBC leading the charge with Santelli. KO issued a token protest. nt

[stillcool]

3. No one likes to see anyone..

get something they don't. It's the where's mine, what's in it for me, American mantra. People loathe to see someone less fortunate than they get a leg up.

[annabanana]

26. I reject that. There ARE people in the world who are capable of

enjoying another's good fortune, or at least a bit of a break. . .

[stillcool]

33. People in the world...sure!

people in the United States...not so much. That is what the opposition to the bail-out bill is all about, no? The wrong people getting help?

[annabanana]

36. Yes, even here... but THEIR voices aren't trumpeted by the

mean spirited RW wurlitzer...

[Doremus]

89. Boy, ain't THAT the truth.

It's self-centeredness run amok, stoked by the 24/7 class warfare on the boob tube.

Even intelligent progressives are falling for it. It's nauseating.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5097455

[philk17088]

101. Bullshit!

Who were the fuckwads getting a leg up buying their McMansions on ARm mortgages with no possible way of ever paying for it unless the value went above what they owed. The same fuckwads who borrowed out every last bit of equity for their vacations and toys.
Now you have the balls to tell me that I have to help them out of the hole they dug with a steam shovel?
No thanks.

You know why? These turds will get out of it and when the get their nostrils just above water again, they will do the same fucking thing over again.

[Missy Vixen]

104. Hey, I could call you a name, too

Would you feel better?

We bought our home in 2000. We live in this home. We bought what we could afford. We have never had an adjustable-rate mortgage on this house. We do not have a second home. We did not borrow "every bit of equity for vacations and toys". There is not a stainless-steel appliance or granite countertop in our home, either. To read some of the bullshit on this site, you'd think that everyone living in anything over 1,000 sq ft has spent the GNP of a small nation on upgrades.

My husband lost his job in November. He looks DAILY for another. We are making our payments, but if we cannot find work soon, we may not be able to. After the house payment, we have $300 a month to live on with unemployment, for instance. The mortgage company is even now running ads on Seattle radio stations to encourage people like us to come forward before it's too late.

This plan helps out people like US, brainiac. If you think our house in foreclosure helps out any of the neighbors, you've lost your mind. We're not looking for a handout. We'd like to work with everyone involved to STAY in our house.

If you can't see that it's better to keep property values in positive numbers for everyone in the neighborhood, not to mention keeping families in their homes, you've lost it.

[stillcool]

108. I don't know who they are...

has Fox news told you?

[xchrom]

4. so let it all go to hell in a hand basket.

then w'll see what's left.

[nadinbrzezinski]

5. If I could get off this history repeat itself ride... free fucking clue

we did the same during the Great Depression, and people back then screamed the same bullshit

Free fucking clue....

You want your property values to keep going down? Then lets not do this.

Many of you wanted New Deal Policies... well guess what this is New Deal policies II.

Can I get off this damn ride? Really.

[BrklynLiberal]

16. I feel the same way about those who complain that they do not have children, or

their children no longer attend local schools, so why should they be forced to pay school tax. Excuse me, do want to have good property values in your area? Well, one of the major factors in determining that value is the quality of the schools in your area....

[nadinbrzezinski]

27. Don't have kids, and I don't mind

but people have been propagandized to the point that they don't realize


TAXES ARE THE PRICE OF ADMISSION TO LIVE IN CIVILIZED SOCIETY.

Ahem loud voice meant for the don't tax me crowd

[BrklynLiberal]

52. Well said.

[truebrit71]

73. Amen! I simply don't understand the disconnect between one and the other...

...that seems to infect the right-wingers...

[GinaMaria]

65. I've been saying the same thing. The schools in my neighborhood

are so good, people were climbing over each other trying to buy homes in district. Drove property values way high. My place is still worth way more than I paid for it and it's because of those schools and other nice neighborhood touches that come from property taxes. I may grumble about 10% sales tax but I'm happy to pay property taxes.

[treestar]

92. And do they want to live in the midst of uneducated people

And that could bring their fortunes down. These people must isolate themselves so much that they don't realize that even though they don't spend much time with other people, they are only able to live in a nice cozy isolated house because of their job that produces something that there must be someone else to purchase or pay for!

[jody]

6. Lots of blue-collar workers ask why they should pay for debts incurred by others who gambled. nt

[thunder rising]

7. Hate, jealousy, fear ... it's for Godly Republicans ya'know

Give a billionaire an extra million and who cares ... give a beggar a dime and that's socialism

[swag]

8. That's funny - I'm still a million times more resentful over paying for others' derivatives,

collateralized debt obligations, credit default swaps, and other such wonders of financial engineering that brought us to this point. To blame small-time mortgage holders for this massive derivatives fraud is to be expected, of course. Look over there!

Rick Santelli can stick it straight up his delusional, faux populist, trading-floor profiteer's ass. He is the fucking major malfunction.

[BrklynLiberal]

18. Well said.

:applause: :applause: :applause: :applause: :applause:

[TahitiNut]

20. Amen.

:thumbsup:

[DeepBlueC]

45. yee-haw!!!

:toast:

[demodonkey]

10. Me, me, meeeeeeeeee! Mine, mine, miiiiiiinnnnnnnnne! (Screw everybody else.)

Enjoy your paid-for home when every one else on your street is a boarded up, rotting abandoned eyesore that the banks can't sell.

[BrklynLiberal]

21. Isn't that a basic tenet of the repuke philosophy?

[philk17088]

103. Why didn't they pay it off?

They could have done the same thing.

[tularetom]

11. Okay she resents paying a few bucks for her neighbor's irresponsibility

But she doesn't mind paying a few thousand bucks for her bank's irresponsibility?

Go figure. Personally I'm a lot more pissed off at the banks than I am at any homeowners who may have overextended themselves. But that's just me.

[vi5]

13. Let me give an example......

My family has (for now) no financial issues. Myself and my family, my parents, my brother and his family....all did this so called "playing by the rules" and have lived well but also well within our means.

My grandmother is in a nursing home and unfortunately my family held out hope longer than we should have that she wouldn't need that, so now we're in a position of having to sell her house. All realtors have told us that we won't get near for it what we would have even a very short time ago.

The reason is because there are so many houses on the market and many of them foreclosures which the banks are willing to unload at deep discounts.

So yeah, this issue has tentacles that reach all of us even those who aren't having financial trouble. It's not just a matter of I'm not in danger of losing my house why should I pay for someone else.

To say nothing of the obvious point that a lot of other people in this thread mentioned, which is just that we should not want to see anyone lose their home.

[The Velveteen Ocelot]

14. Should hospitals refuse to treat people who got hurt doing something careless?

Should a fire department let a house burn down unless they can establish that the owner wasn't at fault? I think there is some confusion about moral "fault" such as fraud or greed (i.e., Wall Street bankers) and ignorance or poor judgment. Some homeowners took out mortgages they couldn't afford, but not because of moral fault on their part. Many were duped by unscrupulous lenders. Many were unsophisticated, low-income first-time buyers who didn't understand what they were getting into. Many others were people who were able to make their house payments at the time they bought their houses but have since lost their jobs. I doubt there were very many who took out mortgages they actually knew they couldn't afford.

But that's not really the point... I don't feel any resentment for not getting a bail-out on my mortgage because I don't need one. If my neighbors lose their homes to foreclosure, however, the value of my home decreases. My neighborhood is less desirable. There will be empty houses with boarded-up windows; thieves break in to steal copper; the lawns won't get mowed; the city collects less taxes for schools and streets and the whole area deteriorates. It's like wanting the fire department to put out a fire at my neighbor's house even if he accidentally started the fire himself, because I don't want that fire to spread to my house and I don't want an ugly burnt-out mess next door.

And it's not my neighbor's kids' fault if he took out a mortgage he couldn't afford. I don't want there to be more homeless kids.

As a dyed-in-the-wool, museum-quality liberal, I do consider myself to be my brother's keeper.

[BrklynLiberal]

22. In repuke eyes, feeling that you are your brother's keeper is one of the mortal sins.

One of the others of course, is a desire for universal health care.

[hisownpetard]

28. Really excellent points raised in this post. Thanks!

[SemiCharmedQuark]

30. I bet they feel that people who don't have insurance shouldn't be treated by hospitals at all.

[Wilber_Stool]

15. Hate your neighbor.

The republican PR machine is good. Draw every ones attention away from those that really caused the problem and direct it to someone you can reach out and touch, your neighbor. This may cause some real problems in the future.

[FrenchieCat]

17. You are kidding, right?

I certainly hope so.

When you go underwater because of foreclosures bringing the value of your home down, what then? Guess, if it was up to you, you wouldn't get any help either hey? :shrug:

[mia]

29. I'm underwater through no one's fault but my own.

I bought my first home when the prices were high and am paying the mortgage with extra jobs and 3 student roommates sharing a 2 bedroom condo. I sleep downstairs in the living room.

I don't expect that the value of this home will be regained in my lifetime.
I don't begrudge others getting a helping hand, but I'm tired of working all the time and not having any privacy. I'd like a break too. I'm not kidding.

[Taverner]

39. It is NOT your fault

Look - none of us have crystal balls

[nadinbrzezinski]

51. You don't control the market, it is NOT your fault

now you are underwater, you MIGHT qualify for this program

In fact, you may be their prime candidate

[OhioBlue]

60. I totally understand what you are saying Mia.

We all feel like that sometimes. I know that I personally look at some of my family and friends that have had their pregnancies/births of their children covered by medicaid while I had private insurance and look at the debt that I am still paying off 1 1/2 years later and think, damn... Also - since they were under Medicaid, they automatically qualified for WIC. I was just over qualifying when they considered my SO's Gross Income. I tried to reason with them that his Gross was not a true reflection of income since he was self-employed and had massive business costs plus the extra self-employment portion of Social Security, which if it had been subtracted - we would have qualified. I've been there - thought the same things...... on a different subject....

But.... we have so far made it through with the medical bills and the formula purchases (I tried to BF but it didn't go well and the baby was losing weight... then I had to go back to work - so we HAD to formula feed.) I am still paying down the Discover card with the ridiculous APR that I used during that time.

I only tell you this to let you know that I understand the feelings of frustration when you feel like you are doing everything that you should but see others that in some way seem to make out better than you when they don't seem to be struggling as much.

However.... I would NEVER want the friends and family that I mentioned to have medicaid or WIC withheld from them. They were in a position that they needed it. We kinda needed a little help with formula that we couldn't qualify for which frustrated me, but we did and will get through. Would they have gotten through? Maybe, maybe not. Definitely not without the medical help. They would have been in massive debt. I'm glad mine was only a couple thousand. If WIC coupons helped them out - then good for them. Those family and friends have helped me out in many other ways with hand-me-downs and baby stuff. So, I think it all comes around in our lower circles of income.

Perhaps that neighbor that right now your feeling a little jealous of or frustrated with will be the one that jump starts your car when the battery went dead or helps you with a tree that feel during a storm.

[EFerrari]

61. I'm sorry you're going through this, mia. My family is in similar shape.

Maybe there'll be a way to renegotiate the loan you're paying. It sure sounds like you'd qualify.

[FrenchieCat]

68. If you are underwater, than you are a candidate for assistance......

So you could be one of the ones getting help.

Do you know how the program will work, because I kind of do.

[treestar]

94. Yeah, because when that happens, it will be a sign she did not

"obey the rules." :sarcasm:

If you lose your job, it causes you to fail to pay your mortgage, which is not playing by the rules, the virtuous person still in the job is still doing. If you lose your job in a tanking economy, it must be due to a failure to "play by the rules." :sarcasm:

Sheesh, the effin' idiots!

[flvegan]

19. Jesus Christ. Just set the fucking rates on the notes for the love of God.

Won't cost us a fucking dime.

Were I the president, I'd say "Look, lenders, here's the deal. All your loans on residential homestead real estate are now maxxed out at 5.25% APR. Every loan that is currently in danger of default, now is not. All the arrears are to be kicked to the back of the loan. If you have defaulted, you have 90 days to clear it up. You may NOT take title nor possession of this property. I just hit the Restart button, now quit fucking around. Judges, you may not file a Final Summary Judgment and in non-judicial states there will be no doorstep sales. Not until the lenders have done what I've decreed."

There, 70% of the problem is now solved.

[BrklynLiberal]

23. Certainlly makes sense to me.

[Waiting For Everyman]

59. You're so right.

That's what law IS. It's setting the rules, which have been absolutely mangled to allow this in the first place. And you're right, zero cost.

I'd do exactly the same. It's long overdue.

[zagging]

84. There's a problem with that

Suppose that YOU loaned someone money for 10%, and have calculated your future based on the income from that 10%. The calculation might include needs like education, transportation, lawn service, utilities, etc. If your income is cut in half by decree you're in trouble.

Now, multiply that by a couple hundred million mortgages, derivitaves, bond placements, etc. It's just not so simple. A lot of that debt is held by the Chinese and other foreign interests, and they're already quite angry with us. Somebody is going to get left holding the bag under your plan, and I'm pretty sure it won't be the Chinese, and if it is, look out below. If they start dumping our bonds on the world market, we will truly see a bottom closer to zero than anyone would wish.

This is just as much a foreign policy issue as it is a domestic issue.

[Marrah_G]

97. Seems reasonable to me

But I am no financial whiz...

[Cerridwen]

24. Is it resentment?

Or is it feeling foolish and fearful?

Are people resenting the fact that others are getting a hand when they need it? Or do people feel foolish that they've played by the rigged "rules," in a rigged "game," and now it's gradually dawning on them that they've been played a sucker and they're looking for someone, anyone to blame rather than wonder why they never questioned the rules or the system in the first place?

I wonder how many of those feeling "resentment" have looked at the situations of others in the past and thought themselves smarter, more respectable, more industrious, or more deserving than their "inferior" friends. Now they're about to come face to face with their own worst fears.

It had nothing to do with smart, industrious, respectable, or any of the other good old American "values." The system was rigged. And they followed unquestioningly - right to the oncoming slaughter. They helped prop up the very system that is turning on them. They had moderate success in a toxic system.

What kind of people succeed in a toxic system?

[liberalmuse]

25. People like this piss me off.

Selfish fucks. You're goddamned lucky you have a job and can pay for your house. "Waaaaah!!!! What's in it for ME, ME, ME???!!!". How about not having to see your neighbors and their kids suffer homelessness? Isn't that enough for you assholes? This reminds me of those people who bitch about how prisoners have it so good. Yeah, constant fear of getting raped and knifed is a drag, but hey, they get free health care. "WAAAAAAAAAAAHHHHHHHHHH!!!!!!!". I truly can't stand people like this. Self-absorbed pricks. They actually think if they let their fellow Americans sink that it will not drag them down as well. Like it or not, we're all in this together. I'm rather stunned at how people are behaving. I'm so fucking sick of all the conservative WHINING.

[Roy]

74. You must stop sugar coating like this......

And tell us what you really think.....

By the way....

Thank you for speaking for me.

[burythehatchet]

76. The name Rick Santelli holds special meaning for me now. nt

[Thickasabrick]

31. I bet Michelle listens to Rush everyday......

[spanone]

32. geez these people are heartless....i guess god told them 'piss on they neighbor'

bu$h* was the one behind everyone should own a home bullshit

[greblc]

37. Resent the banks...

some became wealthy off bad mortgages. Hate your investment banker, not your neighbor. I worked(pasts tense due to a lay off) in an office park and the investment bankers would laugh about client money being lost. I made me f'n sick.

[w4rma]

38. Fuck your sentiments expressed in Rupert Murdoch's article. (nt)

[Skip Intro]

41. As someone who might be helped by Obama's plan, let me share a couple of thoughts

I took a no-doc, interest-only loan, which was packaged with second mortgage. I put no money down on my home. I had no money to put down on my home, but like many who look up waiting for "their" turn, I bought the house because I thought it was my chance, and I wasn't sure I'd have another.

I made my payments on time. Until last month, anyway.

See, unlike so many, I haven't been fired or laid-off. I still have a job. I work in sales. Sales, as you might imagine, is not what it was, the industry irrelevant. Pay, based on sales, is affected accordingly. I didn't plan on my income being so different three years after buying my home. At the moment, I think I will be able to pay my mortgages and keep my house without threat of foreclosure. So I think I am on the side of Obama's plan that might not see a big benefit, other than preventing home values from falling further. However, I also think I am so close to that line that I just may wind up being a beneficiary of his plan. And if that be the case, I would accept such aid proudly.

I once heard Hillary Clinton say, in reference to what I don't know, that "there but for the grace of God go I." You know, I doubt you can be 100% sure of your situation. Life comes fast and there are plenty of curve balls. So before you ride off into the sunset on that high horse, nose in the air to those your tax money might help a little, you might want to leave a door open so that help can get to you, just in case things don't work out like you planned.

One more thought - I'd much rather help a neighbor from going homeless than support a production line of bombs for wars of conquest.

[DBoon]

43. The wealthy have opened the first shots of the new class war.

They should remember that they have not always won those wars, and should not be so eager to start them:

[muntrv]

46. Michelle, your home value is dropping like a tire iron in a swimming pool

as long as your neighbors are in foreclosure.

[DeepBlueC]

47. Financiers want Obama to BUY THE TOXIC SECURITIES!

At full value and MAKE THEM RICHER!!! They don't want to see homeowners helped; no, they want trading desks to get bailed out. Again. :grr:

[muntrv]

48. Why, Fry? To prevent your neighborhood from being blighted with abandoned homes.

[undeterred]

49. My resentment is growing toward people who don't give a shit

about anyone except themselves. Its a genetic defect.

[live love laugh]

50. ONE WOMAN'S resentment represents how many others? The backwash is still trying to come up.

When will they learn? They LOST!

[Waiting For Everyman]

53. Uhh... because millions of foreclosures are sort of a problem. DUH!

Like for instance, causing millions of people in related industries to lose their jobs... which in turn tanks the stock market...

Where has this idiot been for the last year? In some cave? Just how dense and utterly stupid ARE these people who "don't get it"?

This woman can still get her own low rate just like before (if she's so worthy to, as she seems to think). She isn't missing anything. She's just pissed off that other people who are being gounged into extinction are getting a chance at a lower rate and payment finally, just to survive.

If she isn't hurt, she needs to be grateful for that and get her big greedy snout out of the way.

If these people like her were behind a big wreck on the Interstate, they'd probably interfere with the emergency workers to get advice about their next liposuction.

THEY are the problem! They are why nothing was done about this for a year. And if her property value dropped, she can look in the mirror for who did it. They can all go to hell.

[Urban Prairie]

55. I presume that these people

Are also angry at the government for providing foreign aid from US taxpayer dollars in the form of medicine, food, education, ect, as well as the billions of dollars spent on undeclared wars and occupations, the billions spent on bailouts of financial institutions, the leaky and loophole-riddled US tax code that permits 2/3 of domestic and foreign businesses to pay little or no federal taxes, the Bush tax cuts that benefited primarily the ultra-wealthy, and yet they scream the loudest when their middle-class neighbor might get help??

Spare me!!

Pathetic!!!

[treestar]

96. They probably don't mind paying for weapons and bombs

to kill people in Iraq and Afghanistan!

It reminds me of that article on DU last week about an Indian guy saying we should let tons of Indians come over and buy the houses, because they will work 80 hours weeks and pay the mortgages! I bet these judgmental jerks would like that a lot! NOT! If they can pay the mortgage, thereby obeying the rules, why not? Hmmmm, I wonder.

[babylonsister]

57. "For them"? There but for the grace of someone go I. You don't even

understand that?

[Kat45]

58. It's the Republican way: Every man for himself

I've got mine, f' you. We need to get back to the Democratic way: We're all in this together. One for all and all for one. Community. And we need this now more than ever.

[Ichingcarpenter]

62. Our own NanceGreggs replies to this woman..... Killer retort

Not For Nuthin', Michelle Fry, But WTF Have You Been?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x8214820

[Undercurrent]

63. What a stupidly shortsighted idiot.

Pathetic.

The “your end of the boat is sinking” attitude ends up with everyone on the bottom of the pond.

[OmahaBlueDog]

66. So the rescue squad shouldn't pull you out of a wreck if it's your fault?

If you were the idiot wo left the space heater on, the fire department should just let your house burn?

No. First, we should, as a society, care enough to promote common good -- even among those who share some blame for their situation. Second, it's not just bad behavior or irresponsibility at this point - it's an inventory issue. If the rate of available housing inventory isn't brought under control, the chances for people with good credit to get mortgages and buy homes decreases because banks can't gauge how much these assets will continue to depreciate.

..and believe me, we can literally bail out 10s of thousands of families for what it cost to bail out one investment bank. Maybe it's just me, but I'll vote to save the families, and let those on Wall Street fend for themselves.

[blogslut]

67. Heads turn where the spotlight shines

Fox likes to manufacture controversy. I would think you would have figured this out by now.

[shugah]

69. Mia - you are teh awesome!

you should so not have to "pay for them."

never mind all the falsehoods of that same old meme we've been hearing since way back in mourning in america. if it weren't for those damn <insert whatever people are taking away from you - "welfare queen" "affirmative action applicant" "pathetic, can't pay mortgage" "union worker making $70+/hr" >

baby, i got mine! w00t.

good for you. some of us bought homes when we had 2 incomes, and now have none. were we supposed to know that we would not have jobs 10 years later? huh? huh? huh?

despite the fact that i understand your (stoopid) resentment, i will still have only sympathy for you when "the current economy" hits you. it's a hard hit, Mia. but i'm sure you deserve to own your home much more than the rest of us. :toast:

[Binka]

71. I've NEVER Seen You On DU Before And I Never Will Again BYE BYE Mia

Peddle it elsewhere. PLONK.

[truebrit71]

72. Sorry but this type of class-warfare bullshit is why FauxSpews should NEVER be used as a source...

...

Rule #1) Fux Noizze is wrong 100% of the time
Rule #2) When you think that Fux Noizze isn't wrong all of the time see rule #1

Now..onto the meat of your post....Why should "you" pay for "them"??...the same reason I pay for YOUR police force, YOUR schools, YOUR firemen, YOUR roads etc etc etc...WE are all in this together, and it is encumbent upon those of us that can, to do what we can for those of us that can't...Because if we want to live in a society together we ALL have to pitch in to help EVERYONE, not just those that the rich, right-wing elites tell us deserve it...

If you really don't want to pay for "them", may I suggest you go live on an island by yourself...that way I don't have to pay for you, you don't have to pay for me, and we'll all be happier...

[burythehatchet]

75. I think cosmic justice would arraneg it so that people who feel this way starve to death in front of

their loved ones. Slowly.

[TWiley]

78. Maybe you approve of a "Faith Based" housing plan?

people gotta live somewhere dude. It is not extraordinarily difficult to figure out how this plan can work fairly. If you can refinance your home at 4.5% from 6%, wouldn't that be helpful to you?

[NNN0LHI]

80. Anyone who agrees with this tripe can go fuck themselves

[TWiley]

81. "tripe" is precisely what it is.

If I refinance my home at 4.5% instead of 6%, then I will save tens of thousands of dollars on my mortgage, and have more money each month for savings.

The republicans have mounted a massive anti-Obama campaign. I even saw a political TV ad (and it is not an election year) encouraging republiturds to contatct their congressmen to bitch about the stimulus.

It is time to wake up to the fact that we won the election by a landslide. We should be slapping the republicans around, and not validating their reasoning by pressing for bi-partisanship.

They got us into this mess, and why should we give a royal shit what their opinion is?

[mia]

82. Thanks to all for taking the time to respond to this thread.

Each post provided me with insight.

[YvonneCa]

90. Good luck with your situation. This economy...

...is not the fault of good people who bought at the wrong time and ended up underwater because of it. PLEASE turn off Fox, though...they are just in the business of dividing people.;)

[spanone]

83. yeah, fuck those people...let em eat shit and die

:sarcasm:


and faux is wrong ALL THE TIME

[JackRiddler]

86. Question: Are you 10 times angrier about the TARP?

Because the home foreclosure assistance is currently priced at $70 billion, and a lot of that is just so the banks won't have to back off their incredible extortionate deals. People were stupid to accept negative amortization and variable ARM, but those who offered them knowing defaults would happen were not stupid: they were guilty.

Anyway, the TARP - taxpayer money given straight to the richest motherfuckers on earth with no strings, supposedly so they'll use it to save the world - is $700 billion. So, for a start, are you 10 times angrier about that? Are you willing to go on the barricades for that?

The idea is to take $70 billion out of TARP and actually use it to help someone, instead of rescuing corrupt bankers who were both guilty and stupid, as well as greedy. And in helping these someones, even if they're not deserving in your view, one actually eases the crisis up the chain.

[northernlights]

87. Here is how the bankruptcy bailout helps you directly

1. You (and the woman in the article) are 1 job layoff or serious illness away from being in the same dire straights many people are in now... So this week the mortgage bailout helps "them." Next week, *you* could be "them."

2. You (and the woman in the article) are watching your home values collapse due to the housing crash. Put a bottom under that crash, and it supports *all* home values...including yours.

3. Houses sitting empty are prime targets for crack houses and other criminals to take over. That could be the house next door to you, where "they" didn't get the help.

4. Houses sitting empty aren't maintained, dropping their resale value lower. That impacts the resale value of *your* home too.

5. The housing crash reduces property tax revenues, which kills the state budget. That means teachers, firemen and cops losing jobs. That means slower -- or no -- response by cops when the drug dealers across the street get into a gun battle. And a slower -- or no -- response by the fire department when the crack house next door blows up...and sets *your* house on fire.

6. The housing crash means more layoffs for home construction people, appliance manufacturers and sales people, home materials suppliers (Lowes, Home Depot) etc. The reduced state revenues mean more layoffs for state employees. Those layoffs lead to layoffs in other industries (say, auto or computer) and more home foreclosures, which lead to more crimes (potentially against you) by people driven to desperation, lower home values (including your home) and a viscious downward spiral without a bottom.

7. There are probably other parts of the stimulus plan that help you directly, but don't directly help the homeless. Be grateful for them.

In fact, had the actions Obama is taking now been taken 12-18 months ago, this mess wouldn't have happened. And you wouldn't be struggling so hard to make ends meet and your home value wouldn't have collapsed.

But, as the husband in the article said, maybe you should just cut and run. Go ahead. Good luck getting an apartment with ruined credit. Good luck keeping your jobs with your car as your current home address.

It sucks, but it's where we are at. This is my 2nd time through a housing crash. My 1st time was when St. Reagan engineered the condo crash. My condo was worth less than half the mortgage I owed on it. Some people handed their keys back to the bank; I rode it out even through 18 months unemployment and kept my life, health and credit rating as stable as possible. We didn't get *any* help back then...but I'm still in favor of help today. As bad as it was back then, this situation is far, far worse.

The bottom line is we are all in this sinking boat together. If we don't get the part under water out from under water, the whole thing goes down. Including the part you're currently standing on.

[mia]

88. Yes, life could be a whole lot worse.

Thanks for your reality check.

[treestar]

93. Exactly, these stupid pricks are not only MEMEMEMEM but they

don't even realize what is good for MEMEMEMEME!!

:banghead:

[treestar]

91. Do they pay attention to the news?

And the number of job losses? Do they realize their jobs could be next?

Do they want the banks to own all their neighbors houses?

What effing rules did they obey that others did not and that is revealed by the simple fact of losing the ability to pay the mortgage?

[Marrah_G]

95. I have been hearing the same thing from people here in Mass

Even people who never talk politics were pissed and talking this morning.


Whether I agree with them or not, the point is that the Obama administration has GOT to change the tone and attitude towards this.

[Retrograde]

99. Life ain't fair

and if Ms Fry just noticed this she's been very lucky so far.

I'm paying for it too. I've saved, paid off my mortgage, voted correctly and now my taxes are going to help those who haven't. I don't resent bailing out homeowners as much as I do Wall St., but I don't want the remaining value of my investments to go down with the wreck so I put up with it.

I still reserve the right to complain, though.

[Zomby Woof]

100. Actually, you are wrong

Fox News is wrong all of the time. The first paragraph alone is fraught with a can't-see-the-forest-for-the-trees kind of cognitively dissonant disconnect that infects conserva-dumb America. Makes them pure vessels for falling for the insidious propaganda of Fox and their media cohorts.

[anonymous171]

102. The Corporate media is doing their best to redirect the anger of the masses.

The last thing they want is for the people to be angry at the wall street parasite who actually got us all into this mess. SO they turn us against each other.

[Marr]

105. I knew that would turn out to be a Fox News headline before I even opened the thread.

They're sowing division, as usual. Keep the serfs fighting each other and they'll never lop the king's head off.

[Fleshdancer]

107. I'm not a homeowner and I have no problem helping others with their mortgage. Where's my article?

Heaven forbid America acts like a society again.

[mia]

109. Here's a start.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5108303

[NNN0LHI]

110. Yea, I would much rather see the money go to Halliburton, KBR, Blackwater and other wealthy scum

And that is exactly where the money will go if we don't give it back to our citizens in some form.

Don