Married Man on 14Feb2010
Join Date: Jul 2001
Location: Fort Worth, Texas (North Side)
Posts: 14,140
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Housing rescue plan passes key Senate test
Quote:
The mortgage aid plan would let the Federal Housing Administration back $300 billion in new, cheaper home loans for an estimated 400,000 distressed borrowers
$300 billion divided by 400,000 homes is $750,000 for each home. Are we bailing out millionaires?
The 25th edition of Forbes magazine interviewed the 400 richest people. The Forbes 400 was asked in a recent survey. "What is the most important key to building wealth?" And 75% said becoming and staying debt free is the #1 key to building wealth.
Do as poor people do and become poor. Do as rich people do and become rich.
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Lifer
Join Date: Nov 2001
Location: Ellis County
Posts: 18,368
You're right, and that's why Bush will veto it.
CHL holder and Conservative...AKA "Domestic Terrorist"
Time Served
Join Date: Nov 2006
Location: tail end of where the hell are we road
Posts: 807
somebody tell me why a 750k loan needs to be fed backed? screw them. they caused all this shit in the first place. 
" dont mess with the porchdog........ he bites "
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Dyno Racing King!!!
Join Date: May 2005
Location: 2V-ville
Posts: 3,675
I like this guy:
"They expect the federal government to turn their backs on responsible lenders and borrowers and renters waiting - waiting - to become first-time homeowners, and support those groups that have pushed our housing market into decline with bad loans and bad investments," said Sen. Mike Enzi, R-Wyo. "This bill is a federal government bailout."
Responsibility FTW!!! If we bail all these idiots out that bought a $350K+ while holding 2 car leases (on expensive cars) with a combined income of $50-60K a year, then we're just contributing to the problem. It pisses me off when people continue to blame the lenders for creating this mess. C'mon, if you make combined income of $50-60K, you know you can't afford a $400K house, so why take it? Jeez!
My company works in the housing industry and needs housing starts to grow/recover to where we were before this mess started. They have sent e-mails to us asking us to back this and contact our representatives/senators. Sorry, I can't do it. It's just another example of the responsible Americans having to foot the bill for everyone else. What reward do we get for living within our means and being responsible -- their bills.
"They expect the federal government to turn their backs on responsible lenders and borrowers and renters waiting - waiting - to become first-time homeowners, and support those groups that have pushed our housing market into decline with bad loans and bad investments," said Sen. Mike Enzi, R-Wyo. "This bill is a federal government bailout."
Responsibility FTW!!! If we bail all these idiots out that bought a $350K+ while holding 2 car leases (on expensive cars) with a combined income of $50-60K a year, then we're just contributing to the problem. It pisses me off when people continue to blame the lenders for creating this mess. C'mon, if you make combined income of $50-60K, you know you can't afford a $400K house, so why take it? Jeez!
My company works in the housing industry and needs housing starts to grow/recover to where we were before this mess started. They have sent e-mails to us asking us to back this and contact our representatives/senators. Sorry, I can't do it. It's just another example of the responsible Americans having to foot the bill for everyone else. What reward do we get for living within our means and being responsible -- their bills.
Juiceweezl
Dallas, TX
2000 Black GT
2V with a fuel pump and some other goodies
Touched by the hand of a tuning god -- Mr. Wilson
duh...duh....duh
Join Date: Aug 2004
Location: ES BEER
Posts: 9,543
Yeah, fuck those of us who planned for a worst case scenario and surviving a few months if things turn bad.
I knew I should've bought the 400K house down the street, the governement would've bailed me out.
hmmm....there is a 1.6 mill house about 3 miles from here. Maybe I'll put up my Mustang for collateral and move in there. All I know, is I damned well better get a government check when I can't afford the electric bill on that place.
Just jacking around - those who plan don't have worries. Still sucks that people are getting handheld again. No one was forced into buying a place they obviously could not afford under less than perfect conditions.
Take care,
I knew I should've bought the 400K house down the street, the governement would've bailed me out.
hmmm....there is a 1.6 mill house about 3 miles from here. Maybe I'll put up my Mustang for collateral and move in there. All I know, is I damned well better get a government check when I can't afford the electric bill on that place.
Just jacking around - those who plan don't have worries. Still sucks that people are getting handheld again. No one was forced into buying a place they obviously could not afford under less than perfect conditions.
Take care,
My '03 Sold.
No Cerveza... No Trabajo
Join Date: Jun 2002
Location: Where's my beer?
Posts: 21,924
This will be the next mess and Texas is one of the worst
My 401K is now a 400K (was 301K)
Worship me
Join Date: Mar 2000
Posts: 34,345
What a bunch of horseshit.
Meeeeooowww
Join Date: Mar 2000
Location: the MCO airport
Posts: 20,309
Guess I should just stop making the house payment. 
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