[JimPrevor]

This piece looks at the source and veracity of administration claims that people who pay their mortgages will benefit financially by preventing others from going through foreclosures. The comeuppance: Not much evidence behind these assertions.

[Lorianne]

Even if it were true, it still wouldn’t make sense. If a home goes into foreclosure there is a good chance there is someone on the sidelines who has been patiently saving his/her money and would like a chance to buy the home at a lower price.

So, while the home is sold for a lower rate, thereby theoretically lowering your ‘comps’ for the next few years, you’ll still get a buyer who can afford the house + maintenance ect, rather than a person barely holding on by their fingernails who cannot afford maintenance because they can barely afford their mortgage payment and food.

[stevem]

Why don’t they just buy our houses from the mortgage companies and give them to us?

[Brad from Tennessee]

If Obama wanted to help ALL mortgagees he could have included in this scheme something as simple as a one-time 100 percent tax deduction for all expenses associated with refinancing a home mortgage. That would be democratic, but it wouldn't be Democratic because it would benefit Republican households too.

[GeronL]

let housing prices drop. thats good for people who want to buy a house.

[Paleo Conservative]

His staff probably hashed them out over bong hits and lines of coke.