Conservative rag says Obama's homeowner bailout is doing more harm than good.

[RadiomanATL]

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

 

[Baruch Menachem]

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

Can't be true, as Rush and Beck have been saying this all year.

One thing I didn't realize until I read the article was that using the program would result in a hit to your credit report. Which is going to make getting affordable rental housing into a really miserable process for those who are still going to need to go that way.

 

[Truthmatters]

He pointedly rejects the notion that government ought to get out of the way and let foreclosures work their way through the market, saying that course risks a surge of foreclosures and declining house prices that could pull the economy back into recession.

 

[Baruch Menachem]

Mr. Zandi is just one of the experts consulted on this. He gets the last word, it is true.

 

[Truthmatters]

and it says "some experts" think it has done harm.

You see there are always people on both sides of any idea.

Some people are even claiming FDR caused the GD.

 

[The Rabbi]

That's because it's true.

The NYTimes is now a "conservative rag"??

The whole program has been and will continue to be a disaster. In fairness, both Bush and McCain were in favor of it, one of the many reasons McCain lost. Letting the market clear the inventory would be more painful short term and more benficial long term. Now it's just more pain.

 

[RadiomanATL]

The NYTimes is now a "conservative rag"??

Woooooooshhhh....


....over yer head.

 

[random3434]

The NYTimes is now a "conservative rag"??

Woooooooshhhh....


....over yer head.

And this surprises you because.................

 

[jillian]

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

Can't be true, as Rush and Beck have been saying this all year.

One thing I didn't realize until I read the article was that using the program would result in a hit to your credit report. Which is going to make getting affordable rental housing into a really miserable process for those who are still going to need to go that way.

it seems to me that goodman's article bemoans the fact that the program doesn't go far enough to give permanent relief to people.

Rush/Beck complain that the program exists at all.

Seems that once again, they did the right thing if everybody's a little unhappy.

As for the credit report... any time you can't pay a debt as agreed, it impacts on your credit rating.

A foreclosure looks a lot worse on your record, though, yes?

 

[jillian]

The NYTimes is now a "conservative rag"??

Woooooooshhhh....


....over yer head.

it was too subtle for him.

 

[RadiomanATL]

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

Can't be true, as Rush and Beck have been saying this all year.

One thing I didn't realize until I read the article was that using the program would result in a hit to your credit report. Which is going to make getting affordable rental housing into a really miserable process for those who are still going to need to go that way.

it seems to me that goodman's article bemoans the fact that the program doesn't go far enough to give permanent relief to people.

Rush/Beck complain that the program exists at all.

Seems that once again, they did the right thing if everybody's a little unhappy.

As for the credit report... any time you can't pay a debt as agreed, it impacts on your credit rating.

A foreclosure looks a lot worse on your record, though, yes?

Nah, I read it as complaining that the government instituted the wrong kind of program.

 

[RadiomanATL]

The NYTimes is now a "conservative rag"??

Woooooooshhhh....


....over yer head.

it was too subtle for him.

I fergot that subtlety isn't a lot of posters' strong suit.

 

[jillian]

Nah, I read it as complaining that the government instituted the wrong kind of program.

The way I read it, and admittedly I read it quickly, was that the program in place is only a temporary fix for people who ultimately won't be able to get it together in the time alotted. And what they really want to see is relief for the people who are underwater... whose house is worth less now than the outstanding mortgage. That type of program would certainly be helpful, but then the right is really going to scream.

 

[RadiomanATL]

Nah, I read it as complaining that the government instituted the wrong kind of program.

The way I read it, and admittedly I read it quickly, was that the program in place is only a temporary fix for people who ultimately won't be able to get it together in the time alotted. And what they really want to see is relief for the people who are underwater... whose house is worth less now than the outstanding mortgage. That type of program would certainly be helpful, but then the right is really going to scream.

You read the same thing I did. Except insert this (my edit in bold):

...was that the program in place is only a temporary fix for people who ultimately won't be able to get it together in the time alotted, and this program should not have been put in place to begin with. Instead...what they really want to see is relief for the people who are underwater... whose house is worth less now than the outstanding mortgage. That type of program would certainly be helpful.

 

[The Rabbi]

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

Can't be true, as Rush and Beck have been saying this all year.

One thing I didn't realize until I read the article was that using the program would result in a hit to your credit report. Which is going to make getting affordable rental housing into a really miserable process for those who are still going to need to go that way.

it seems to me that goodman's article bemoans the fact that the program doesn't go far enough to give permanent relief to people.

Rush/Beck complain that the program exists at all.

Seems that once again, they did the right thing if everybody's a little unhappy.

Then you'll really thrill to Obama's plummeting approval ratings. Only in your mind can a program that is so obviously wrong on so many levels be good because people disapprove of it.
Really among the dumbest things I've seen you post. But it's still the beginning of the year.

 

[WillowTree]

So, are we supposed to pay for every dUMMie out there to own a home? Is that it?

 

[jillian]

Can't be true, as Rush and Beck have been saying this all year.

One thing I didn't realize until I read the article was that using the program would result in a hit to your credit report. Which is going to make getting affordable rental housing into a really miserable process for those who are still going to need to go that way.

it seems to me that goodman's article bemoans the fact that the program doesn't go far enough to give permanent relief to people.

Rush/Beck complain that the program exists at all.

Seems that once again, they did the right thing if everybody's a little unhappy.

Then you'll really thrill to Obama's plummeting approval ratings. Only in your mind can a program that is so obviously wrong on so many levels be good because people disapprove of it.
Really among the dumbest things I've seen you post. But it's still the beginning of the year.

you know, that might actually bother me if it came from someone who has a brain.

go back to making jews look bad. economic policy doesn't suit you.

 

[saveliberty]

Why the solution is crap:

1. It confirmed for many people, that walking away was the best choice. This additional amount of homes on the market helped prices fall even further.

2. If a voucher program had been used, that kept more people in their homes, with a smaller mortgage, less homes would have been on the market. The money could have helped homeowners and the banks with the same money. Double your return.

3. The vast number of foreclosures meant the banks didn't keep the properties up, which made them even cheaper.

 

[The Rabbi]

it seems to me that goodman's article bemoans the fact that the program doesn't go far enough to give permanent relief to people.

Rush/Beck complain that the program exists at all.

Seems that once again, they did the right thing if everybody's a little unhappy.

Then you'll really thrill to Obama's plummeting approval ratings. Only in your mind can a program that is so obviously wrong on so many levels be good because people disapprove of it.
Really among the dumbest things I've seen you post. But it's still the beginning of the year.

you know, that might actually bother me if it came from someone who has a brain.

go back to making jews look bad. economic policy doesn't suit you.

It's certainly easier to diss me than address the issue.
When you get done worshipping Obama's phallus and can talk reasonably, get back to me. I won't be holding my breath though.

 

[Baruch Menachem]

Nah, I read it as complaining that the government instituted the wrong kind of program.

The way I read it, and admittedly I read it quickly, was that the program in place is only a temporary fix for people who ultimately won't be able to get it together in the time alotted. And what they really want to see is relief for the people who are underwater... whose house is worth less now than the outstanding mortgage. That type of program would certainly be helpful, but then the right is really going to scream.

I am feeling a bit stupid because I didn't see the second page.

All I saw was arguments why the whole concept is a bad idea: the banks are stuck with bad loans and the customers can't get the relief that they need, and customers who would be able to qualify loose out because the system is so illiquid. The first page shows us the Gordian knot, the second page argues that we could untie it if we added enough rope.

Second page really is the argument of an alcoholic explaining why a hair of the dog is a better remedy than swearing off the sauce.

I would think that after reading the first page the remedy would be clear: Clean up the mess, and put safeguards in place so we don't repeat the problem in the future.