Housing aid bill faces veto by President Bush

[hometowngrl53]

Either way this goes it dose not look good for anyone i mean it might be a quick fix to the porblem now but how do we keep this form happenin g again and again we need to get to the bottom of why this happened in the frist place

Housing aid bill faces veto by President Bush
AP
Posted: 2008-05-09 03:56:26
WASHINGTON (AP) - Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the backing of many congressional Republicans.

Opponents of the plan say more prudent homebuyers and renters shouldn't be called upon to bail out borrowers who gambled on ever-rising housing prices
and lost.

more here

my only fear is that by the time my grandchildren get to the point of being able to buy their first home the market will be such either a big mess or dare i dream that it will be better then it is now and all the mistakes have been worked out and now not a problem any more

[flippinout]

Opponents of the plan say more prudent homebuyers and renters shouldn't be called upon to bail out borrowers who gambled on ever-rising housing prices
and lost.

My question to this is: Why werent there already security measures in place to quell the lenders that didnt explain the whole procedure, or to make sure that the facts that the borrowers gave on the applications were indeed factual.

And who is supposed to help these people out? Is everyone just supposed to close their eyes to the fact that so many families are being displaced?

[flip_it_fast]

I am tired of paying taxes on this and that to cover for people who don't want to work or who commit fraud by receiving state or federal benefits for illnesses when there is actually nothing wrong with them. On the other hand I know how hard it is to make a living right now, things that you could afford a few years ago we no longer can. I am sure a lot of these cases of foreclosures are families whose main income source has been taken away and thats why they are in default. What do we do, do we let innocent children live in the streets because there aren't any jobs for their parents? I don't think I could sit by and do nothing. Lets have more strict inforcements of welfare and disability so that funds will be there to help these people. I have nothing against welfare or disability benefits going to those who really do need them. I am saying that if we stopped the people who receive these fraudulently then the money would be available for these people. We wouldn't have to pay more taxes and they wouldn't have to wonder where they are going to spend their next night or how they will keep their children warm.

[missmanors]

I think President Bush needs to listen to those in the know on this one. We are all going to be in trouble if the government doesn't help those people in foreclosure. I'm sure a lot of those people didn't know that the price of everything was going to go up as high as it has when they signed on the dotted line for their loans. Not only does a foreclosure displace a family from their home, but drops the value of the homes surrounding it, means less taxes in the area for improvements, and is a target for vandals and criminals. We need the government to do something about this problem and we need them to do it fast.