how to make money with falling home prices
why is obama borrowing money to give home owners who should have never owned a home in the first place?
he specifically said he wants to curb foreclosures in order to stop home prices from falling. he wants to use taxpayer money to keep home prices artificially high.
I voted for Obama but I don’t agree with him on this. He’s basically rewarding irresponsible people for not paying their mortgage. I went to the white house’s website and read the information about the Homeowner Affordability and Stability Plan. Essentially the plan will help people who have an income, have a job, not people who have been laid off. The people being helped are the ones who purchased homes they couldn’t afford to begin with. They still have their job; they just can’t afford to pay their mortgage anymore. These people will get lower fixed interest rates (probably lower than the rates that most of us responsible home owners have), their principal may be lowered (they get to keep their large expensive homes while owing less for them) and they get, listen to this $1,000 a year for paying their mortgage. This is what the plan says “To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan. The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.” If that doesn’t make you mad I don’t know what could. I guess IT DOES PAY TO BE IRRESPONSIBLE.
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