Obama Hits Brakes on a Bill That Could Speed Foreclosures

mayabelle ..... You have really pissed me off. Who the hell are you??? A person who works for the bank? I am not paying my mortgage yet I went to the county and paid my taxes. You have not a clue on what your talking about and you have no idea what is actually taking place. Property value did not go down just because someone got foreclosed on or just packed up and left on a over inflated home. Property value went down because of the banks and lenders. Do YOUR RESEARCH before putting your fingers on the key board.

Yea Wayne, the reason that you paid your property taxes is because the government subscribes to a different set of laws. You see, if you don't pay the bank the government supports you... if you don't pay the government they come and do whatever it takes to collect! This whole issue came about as the result of people who never had the ability to support the kind of debt that they were incurring being allowed to finance homes that they hadn't earned. Home ownership was deemed to be some right. Now conversely, I have been in my home for 20 years and have a great deal of equity (in spite of having lost a ton of aditional equity because of this failing market). In the event that I have some financial difficulty or lose my job, the bank won't extend any financing because I won't have the income to support it. In addition, because I have a lot of equity they won't work with me. Foreclosure would be post haste. You see... if you're upside down the banks will do whatever they need to do to assist. If you have positive equity then screw you.... we want the money. If they can force a sale and be guaranteed their prnciple back you're screwed. So..... doing the right thing and being fiscally responsible is penalized; while overextending yourself and defaulting in debt is rewarded. Where is this country going?

Well MrTaxattorney, that would depend on what shoes you happen to be wearing. Those of you that seem to be faring fairly well want to blame Obama for all this. Those that have themselves in a bind however are feeling a bit of pain right now. They unlike many didn't have the 20% to 30% to pay down on a home and all this creative finacing helped them to have one. Banks were deregulated and they went wild because these were Goverment Guranteed Loans. Obama did do finance reform to stop it but there were millions of these loans made. The Banks were making Loans on a signature, why not if they failed the Goverment got stuck with them. Was it abused by people , why of course it was. Many were trying to struggle to make Loan payments through a Fuel crisis that drove everything up, when their job's left here they had no equity and certainly even if they did with the property valued dropped to half of what it was when they bought no way could they get a loan an no job. You have to have regulation on the financial system at the same time we all don't make 15 to 20 dollars an hour and need some help. I believe Obama is tryin all he knows but this was really bad, I think if he had realised how bad he would have never run for President. But this is going to take time a lot of time and we need that money that Republicans want to give to Corporation who for the past 10 years have none nothing to create jobs and instead have invested in moving our job's over sea's. In my opinion invest here then you get a Tax Break but never a free ride on tax payers, the wealty worry about Tax breaks, while the people would like to have a job and be able once again to pay taxes.

Actually, Bush accomplished the near-destruction of America by letting the inmates run the jail (i.e., self-regulation under a "greed is good" standard), from which Obama is trying to bring about a recovery. Because the entire financial system nearly failed and remains in near-death mode, he has had to pump money in and tread very carefully to keep what small amount of confidence there is in the system.

Can you remember when someone said my administration will be known as the homeowner admin.?

Well your wrong there Obama is smart enough and using much the same Policy that has been used to bring this Country out of other recessions. What he doesn't have is money and a rather large recession with the addition of 2 War's that continue. To make bad matter worse the Republicans are dragging their feet and filabustering when they need to be working with The President and even Democrats have not supported as they sbould, why, because of their almighty seats in the house and senate

Thats no surprise you didn't get were we were headed when Bush was President either. Maybe if you had paid attention to waht was going on then we wouldn't be here now and thats a fact

You can't be a real person who pays attention to what's happening. You need to get your head out of your ______.

ilkee: You have no idea of whats going on and never have. Go watch TV because your comments provide nothing to the conversation and most likely your parents keep you up

White house was built for free, I'm sure it's paid for.