I,ll never understand how THEY thought this had a chance in hell of working . I found a few things interesting in this article as well as a few of the comments . Seems like not much money has been spent out of the 75B , Nor has what has been spent helped very many people & only putting off the forclosure longer IMO .
I also have read in several articles that a fairlly large # of homes in forclosure or close to it are in the 5 million dollar + range , I doubt very many of those people had much of a downpayment either
I,m not sure if this comment reflects how it was designed to work or not , But seems the typical banking practices that more then likelly caused the problem in the first place . any thoughts ?
BTW I dont need to here its Bushes fault , that shits getting really old
" The more than 100 participating mortgage companies get [COLOR=#366388 !important][COLOR=#366388 !important]taxpayer [COLOR=#366388 !important]incentives[/COLOR][/COLOR][/COLOR] to reduce payments. As of mid-June only $490 million had been spent out of a potential $75 billion the government has made available to help stem the wave of foreclosures. "
COMMENT
" Did you try getting one of BOs mortgages? I did. Was told that I needed $7,000.00 to $10,000.00 upfront to get the loan. If I had that much money I wouldn't need the loan. The man needs to go back to the community and organize more block parties and leave the working class people alone. Tax and spend, tax and spend. I guess that is what you learn when you are a community orgainzer. "
http://news.yahoo.com/s/ap/20100821/ap_on_bi_ge/us_mortgage_aid
I also have read in several articles that a fairlly large # of homes in forclosure or close to it are in the 5 million dollar + range , I doubt very many of those people had much of a downpayment either
I,m not sure if this comment reflects how it was designed to work or not , But seems the typical banking practices that more then likelly caused the problem in the first place . any thoughts ?
BTW I dont need to here its Bushes fault , that shits getting really old
" The more than 100 participating mortgage companies get [COLOR=#366388 !important][COLOR=#366388 !important]taxpayer [COLOR=#366388 !important]incentives[/COLOR][/COLOR][/COLOR] to reduce payments. As of mid-June only $490 million had been spent out of a potential $75 billion the government has made available to help stem the wave of foreclosures. "
COMMENT
" Did you try getting one of BOs mortgages? I did. Was told that I needed $7,000.00 to $10,000.00 upfront to get the loan. If I had that much money I wouldn't need the loan. The man needs to go back to the community and organize more block parties and leave the working class people alone. Tax and spend, tax and spend. I guess that is what you learn when you are a community orgainzer. "
http://news.yahoo.com/s/ap/20100821/ap_on_bi_ge/us_mortgage_aid
