Homeowners Facing Foreclosure Just Want to be Heard

9 Comments so far

1. Leonardo on February 18, 2009 4:57 pm

   Finally something is being done about the Real Estate Market. I agree with President Obama that regardless of how one may feel about the so called “bail out program” we all are being affected negatively by the foreclosures. Doing nothing is not an option.

2. Jennifer on February 18, 2009 5:23 pm

   Hmm, a “Homeowner Affordability and Stability Plan” — an oxymoron if there ever was one. How can “stabilizing” home prices at 100-year highs increase “affordability”?

   This government meddling in markets will destroy what they are trying to protect.

   Comparable sales — “comps” — will no longer have meaning, because the sale price recorded at the local Town Hall will now be much higher than what the “owner” actually paid, thereby reducing affordability for new entrants into the market (e.g., first time home buyers).

   They are absolutely destroying the housing market to “save it.”

3. Florida Loan Modification on February 18, 2009 6:25 pm

   A lot of people were victimized by predatory lenders and need help to save their homes from foreclosure, and a lot of people bought into homes they couldn’t afford and are going to get a semi-bailout.

   But in reality these people getting loan modification bailouts should not be demonized, when in reality the Morgan Stanleys of the world got away with so much more money and demonizing these poor people is like adding insult to injury — a loan modification is no “million dollar bonus”.

4. Jennifer on February 18, 2009 11:27 pm

   And how about first time buyers waiting for “affordable” homes? They get neither a “million dollar bonus” nor a bailout.

   $8,000? That goes far when 1,200 square feet houses cost $600,000 and up in coastal areas (New York, Los Angeles, etc, etc).

5. Andrew Graham on February 26, 2009 9:07 am

   The government should have kept the $15,000 tax credit for home buyers in the intitial draft of the stimulus package. All of this mess started with the housing market. Imagine if they gave a one time 15K tax credit to anyone who bought a home this year! I believe that would be a major boost to the economy. The $8000 tax credit is nice for first time home buyers, but I think the they should have done more.

6. Prince William Homes on March 1, 2009 7:01 pm

   Can you really blame the homeowners? This is so distressing!

7. Boston Online Rentals on March 18, 2009 1:21 pm

   LOL, Is that so the Bailed out Bank Exec can see the Message when they fly over in their Jets?…lol

   True, this is effecting everyone, and thats not a joking matter..

   G.F

8. Loan Modification Zoom on May 6, 2009 2:59 pm

   Obama ran on a platform of change and having the people taking a more active role in government. Looks like this guy just might have gotten his message across. Out of curiosity, what ended up happening, was he/she foreclosed upon?

9. jim imbeault on July 28, 2009 2:23 pm

   been in the construction industry most of my life. unfortunately retail construction , as everybody knows crapped out two years ago. I bought my house three years ago. my mortgage was supposed to be a two year interest only. NOT!!!!!!! to make things even more complicated, i was laid off 24 months ago. my wife had an operation on her neck, now she cant help with the finances ! what i’m getting at is , now i have to do residential work which doesn’t pay nearly enough to live on never mind the mortgage !!!! somebody has to do something . I will lose this house. PLEASE!!!!!!!!!!!!!!!!!!!!!!