[L98Fiero]

“And in Ohio, New York, Massachusetts, Maryland and other states, distressed mortgage holders are clamoring for whatever aide is available.”

In other words, people who can’t handle their own money are begging for other people’s money. Pathetic.

[glorgau]

> $1 billion in rescue money

Woohooo! Free money!

[Freedom4US]

Counseling almost by definition is something that works best before borrowing, not after! If I’m gonna lose my home the last thing I want is a lecture. Not to pick on anyone, but where was the Center For Responsible Use Of Excessive Capitalized Non-Governmental Organizations? How about congress, aren’t they supposed to set legislation?

[Mariner]

30yr fixed at 5.75%...no points or closing costs.

How do I get one of THOSE loans?

[JimRed]

You never hear from the MSM that the subprime loan defaulters comprise less than one half of 1% of all mortgagees.

Agenda, anyone?

[MamaTexan]

An announcement in April that the Neighborhood Assistance Corporation of America would be offering $1 billion in rescue money to beleaguered borrowers

So now our money goes through a third party called the Neighborhood Assistance Corporation of America and is no longer 'taxpayer money' but RESCUE money!

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I can't speak for other FReepers, but I'm sick and tired of government taking a chunk of what our family earns every year and then hiding the theft behind feel-good catchphrases.

Why should we have to rescue people from their own bad decisions?

[BlazingArizona]

Real estate is not going to collapse, precisely because it is the most politically well-connected form of investment. The field already enjoys massive tax advantages, bailouts, plus subsidies that even farmers would envy. Now that the Democrats are coming in, this crisis will spawn more special breaks. By 2010, we may all be required to invest in real estate.

[Dems_R_Losers]

The HOPE hotline (888-995-HOPE) does not offer bailouts, but does offer objective third party counseling. Over half of all borrowers who fall behind on their mortgages never even call their lender to try to work something out. The HOPE counselors have dedicated contact people at all the major loan servicing shops and can get people to face up to their problems sooner and work them out with the servicer. It is a really good program.