Utopia realized with the stroke of a congressional pen. Holy crap!
“Struggling homeowners” who had no business buying something they couldn’t afford in the first place.
Gotta keep that bubble inflated.
so we should all quit paying our mortgages now so we can get these grants?
Why not just pass a law voiding all contracts? Contracts are too picky and mean anyway, they force people to make tradeoffs, and they presuppose that both parties are moral agents. These draconian conditions are getting in the way of things like free health care for everybody!
Corporate utopia. This is a move by the financers for a subsidy from the American public. They don’t want to foreclose and take the properties, for one, they allowed encouraged overvaluations in the first place. Also, why not get free money from the govt.? All one needs is a “crisis”.
Dang it! I knew I shoulda bought that 6000 sq ft house with the 50 acre horse farm even if it was waaaay over my head. Will they bail me out if I do something stooopid now? Surely I can find something I can’t afford.
Congress may not be able to stop foreclosures from rising, but they can damn well keep dreams from shattering. From this point forward, all dreams must be made of shatter-proof polycarbonate! Shards of shattered dreams are the leading cause of lacerations among obese children under the poverty line!
The scum in Congress probably figure that if they do this, it will prop up states’ proeprty taxes - thus delaying or deferring additional Federal taxes going to the states; allowing Congress more time to play with Federal dollars.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Ther just never seems to be enough welfare.
I’m OK with reasonable amending of FHA guidelines. The other stuff I’d toss.
And what relief do the responsible people get who paid higher interest rates than the “adjusters” by choosing a 30 year fixed?
Nada. As usual, the sober and responsible get shafted while the irresponsible and negligent get bailed out.
Would somebody please inform me in advance of the next huge bailout for idiots? I REALLY want to get in on one of these where I can waste a bunch of money while increasing my lifestyle at taxpayer expense. We need to put our minds together and tap into this trend. I’m game. What is the next scam going to be? I’m tired of actually working to pay my way for everything I own and then paying for the stupidity and greed of others on a regular basis.
Can I retroactively buy a house at a loss and have the taxpayers fund the difference while I spend the imaginary paper loss to get real good and services? I want in on that!
In case you didn't notice, HUD is DUH spelled backwards.
BUMP