US taxpayers bail out California homeowners, as banks fail to pay their share

SNM, you could have gotten up to $100k of Federal Taxpayer money if you stayed.

This is ripe for fraud.

(08-20-2012 02:32 PM)SumOfAllFears Wrote:  US taxpayers bail out California homeowners, as banks fail to pay their share

SNM, you could have gotten up to $100k of Federal Taxpayer money if you stayed.

This is ripe for fraud.

Quote:This is a far cry from this statement Obama made in April in 2009 in Phoenix: "So this part of the plan will require both buyers and lenders to step up and do their part and to take on some responsibility."

Just more 'pass the bill' to know whats in the bill...

But hey its only a few billion tax payer dollars right?

(08-20-2012 02:32 PM)SumOfAllFears Wrote:  US taxpayers bail out California homeowners, as banks fail to pay their share

SNM, you could have gotten up to $100k of Federal Taxpayer money if you stayed.

This is ripe for fraud.

Holy ****!!!! This is insanity. But $100k wouldn't have saved me and in the long run I'm better off financially being out of that ******* **** hole of a state. Giving me $100k wouldn't do dick because of all the other costs associated with being a California resident.

the bottom line is California politicians forget whose oney they're spending and this is just so *** **** irresponsible. And like the article said, renters get it up the pooper. California needs to drift off into the Pacific.

The problem is that nobody in the Federal Govt got the Banks to sign on to the deal before they passed the legislation. It's all voluntary.

The Banks don't have to participate. Why should they?

Well, their hearts are in the right place. I just wonder where the hell their brains ran off to.

Stop the subsidization of Cali! I need the prices to drop some more so I can buy. The value is still too high.

It's not MY fault that someone else is underwater on their loan. They assumed the risk when they took out their loan ... I shouldn't have to pay for their loss.

(08-20-2012 07:45 PM)UConn-SMU Wrote:  It's not MY fault that someone else is underwater on their loan. They assumed the risk when they took out their loan ... I shouldn't have to pay for their loss.

Obama says you not only should, you will.

If a loan is backed 100% by Fannie/Freddy why should any Lender participate in a Principal Reduction?

Let the homeowner default and walk. They Foreclose and still come out whole.

(08-20-2012 07:45 PM)UConn-SMU Wrote:  It's not MY fault that someone else is underwater on their loan. They assumed the risk when they took out their loan ... I shouldn't have to pay for their loss.

At least Obama is consistent..

If you're successful you did not make that happen... Someone else did that

If you were stupid enough to buy during the late stages of the boom you did not make that happen... Someone else did that

This is why millions are not paying their student loans. I'm not paying a dime to Sallie Mae until after November...

When Obama forgives the late student loans I'll be a goverment money lottery winner for the first time in my life. It's coming. Woohoo.

(08-21-2012 09:33 AM)OLD DIRTY Wrote:  This is why millions are not paying their student loans. I'm not paying a dime to Sallie Mae until after November...

When Obama forgives the late student loans I'll be a government money lottery winner for the first time in my life. It's coming. Woohoo.

You're just as bad as the progs begging for it then. I'm paying my student loans even though there is a good chance they will be forgiven. I am taking responsibility for myself and not going to let someone else's (or my) tax dollars to go pay off my education.