Feb 19, 2009

Obama's Foreclosure Bailout Plan

President Obama's $75 billion foreclosure prevention program will go a long way to helping millions of distressed borrowers, experts said. But CNN is reporting the plan didn't satisfy everyone. "The plan may not be aggressive enough," said John Taylor, head of the National Community Reinvestment Coalition.

My Comments:
1) Why are we bailing out homeowners who probably shouldn't have qualified for a loan in the first place?
2) WTF - the government is just now realizing they gave big banks and mortgage companies bailout money with no strings or conditions, and they're trying to fix it!
3) What does this say, about the millions of homeowners such as myself, who pay their mortgage on time and shouldn't be baling others out of there damn problems?
4) As I said, get 20% or more of your total cash converted to GOLD, because the dollar won't be worth much soon.

1 comment:

pissed off middle class taxpayer said...

It is estimated that 80% of this money will benefit blacks, hispanics, and investors (people who own rental properties)....

all of whom should have never gotten a mortgage in the first place!