CNN

Is it fair??? No, it's not fair - but it's the RIGHT thing to do. Fairness is not the issue here. This is about stabilizing the economy which will benefit all of us. I know a few folks who are in foreclosure, and they are responsible, intelligent people. They didn't live beyond their means and didn't go into their mortgages blindly. Regardless, they are still experiencing serious economic issues that may result in foreclosure.

So personally, I am happy to have my tax $$ go to support others who are in need. Were some of these mortgage holders overambitious, yes, they probably were? Did some of them utilize poor judgment - yep, some of then probably did? But it is not my place to judge the misfortune of others - and blame certainly doesn't help. There an old saying "There but for the grace of God goes I". Experience has shown me that it's easy to complain, blame and be self-righteous when things are going well for me - but it's hurtful. Let's try a little forgiveness and support for folks that are suffering - you never know, you may need that same support yourself some day!

No, it's not fair. There is no allowance for people who were responsible to refinance our homes that are not under water and lower our payments. We're all in the same boat. All of our home values are down, yet we have to keep making payments and can't refinance because we're not underwater?

Secondly, this bailout won't solve the housing problems because it will falsely stabalize the market. It's this false home values that got us here in the first place. The idea that not only should everyone own a home even if they can't afford it, but they should go out and get huge 300K and 400K homes they can't afford artifically raised home values.

Now, not only do we have to pay for our own homes, we have to pay for the homes of those who have lived way beyond their means too, in houses they never should have had and that should never have been bought at the prices they bought them at in the first place.

It was probably really unfair to sellers to take advantage of everyone else and sell their property at the height of the real estate market too causing a huge bubble so everyone is to blame in this.

The people who bought homes they knew they couldn't afford them have long lost their homes.

The goal now is prevent people who CAN pay for their homes from walking away from them when the cost of ownership is more than the worth of the house.

I may seem unfair, but it is a necessary step to prevent further losses in the housing market.

Help stop the forclosures..Help our neighbors...So that home owners home values stop dropping......We all Win!!!! And our economy gets back on track.

why is everyone crying Bush and His GOP buddies didnt help no one. al least Obama is doing something for Americans so stop crying nothing gets solved fast give this man a little time.

Rob responsible Petes and pay reckless Pauls

I meant Obama and not the typo of Oboma.

Blame Barney Frank.

He said the republicans were playing chicken little the sky was falling

He said the market was just fine.

Look it up on You Tube. They have the entire Senate and Congressional hearings on there.

Facts are facts. Paulson, Snow, many others asked him to change it.

He said NO.

Stupid Plan. I hope it back fires.

Give EVERYONE a flat 4% interest rate. Bottom line. It would work.

It isn't fair–it's killing the hopes and dreams of many Americans. Why work your tail off for everybody else?
I'm sure Gibbs does not like all this disagreeing with the Democratic administration–he's already challenging some reporters and talk show hosts...

My wife and I have always made our Mortgage payment on time. We have paid EVERY bill on time. I lost a 6 figure job and we are still making all payments on time, because we lived below our means. Now we are penalized in that we won't get our interest rate reduced! Our Mortgage payment was only 13.2% of our combined salary! We qualified for a 31% loan, but chose not to do it.

Where is my rate reduction so we can pay our house off faster Oboma?

"Americans may not like the plan — but that doesn’t mean they think it’s a bad idea."
What kind of two faced statement is that?

This plan is terribly unfair to hard working people who lived within their means.

I watch every dollar that I spend, and now I'm on the hook with the rest of the taxpayers for people who bit off more than they can chew.

This is a bailout for deadbeats.

Next Obama will be giving illegal aliens citizenship and a big check.

Ok, maybe the illuminati are behind Obama, or maybe he is the antichrist, or maybe he does have a piece of the spear of destiny……

Or, maybe so many sheeple were just wanting to make history, or vote for him from misplaced guilt, or just voted for him because of the color of his skin.

Whatever the case, it is obvious to people that think for themselves that he is on his way to ruining this country, sending it the same way the Roman Empire went.

If we as a country want to survive as anything other than a 3rd world country, we need to elect people in 2010 that will block at least the most dangerous of his actions.

I'm extremely grateful that we have paid our mortgage and I wouldn't want to trade places with anyone who has gotten into difficulty. I want to see the country revive and if this is what it takes, then so be it.

WOW!!!! Why are people so selfish, it might be true some people over extended themselves on what they could afford to buy, but the majority of people got in trouble when they lost their jobs. If you remember this crisis didn't start until people started losing their jobs. I have a steady, well paid job, and I also have a mortgage that I pay on time every month, and it doesn't bother me that the president is offering help to those in need at this time. I have sister that owns a home and just lost her job of 20 years thru no fault of her own (company consolidated offices), always made and still makes her payments on time, and I hope that this program can help her..How come I don't read anybody complaining about the greedy builders charging exorbitant prices for poorly constructed homes, or the greedy banks getting all the money from Washington, just think, "there for the grace of God, go I". you might be the next ones losing your jobs.

My husband and I have a mortgage. We bought our house when we got married 3 years ago. We made a decent household income ($75,000) and could easily afford our $153,000 home with a payment of $875 a month. We had savings, paid down our student loans, and began to plan for retirement (we are now 29). Then, my husband's company closed, due to the onwer's extramarital affair and ensuing divorce (easier to close the company than fight over it in court, I guess). There went $50,000 a year – 2/3 of our income. I take home $1,200 a month as a Catholic school teacher. We also have $300 in student loans. My husband has been looking for a job- any job. Our savings will help us for a while, but not forever. We've done everything right, as far as contacting all our creditors and explaining the situation to them. Most are willing to work with us, but not all. We've never been late on a bill and are current on our mortgage, but are terrified how long we can go on like this. The irony is that even if we wanted to sell our house, it wouldn't help us since our home is only "worth" $125,000 in the current market. We'd still owe almost $25,000 if we sold it now. This is so sad. We NEVER spent beyond our means, and it is heartbreaking for people to think because we might lose our home that we were somehow irresponsible. Things happen. Not everyone with mortgage problems is to blame. I wouldn't wish this on anyone, but you do have to be in the situation to understand it.

As someone who played by the rules, has no debt other than a mortgage, and pays with cash, I hate the idea of using my tax dollars to bail out those who should have never taken out and home loan and up to their eyes in debt.

That said, my home has lost 30% of its worth in the past year. And that's not as bad as most. While repugnant, if some of my tax dollars go to stemming foreclosures that would seem to be my best bet for not losing more value in my home. A few hundred tax dollars–or even more–if it keeps my home from dropping to 50% of previous value is worth about $100,000 to me. That's a pretty darn good return on investment. Fair? No. Good for me in terms of my balance sheet? Yes.

It's ugly and nasty, and I don't like it, but I like the idea of my home's value dropping much less. It's not worth $100,000 for me to feel "I was responsible, they weren't, let them suffer the consequences". The consequences are too costly for me!

It's totally unfair, whether you've lost your job, have a medical condition or otherwise what's different now than has always been. Think about it, there are more than enough people in this country to buy the homes of those that lose them. You're only changing places, owners become renters and vice versa. What will happen is that the banks will be paid full price with new owners than a partial payment...AND LOST REVENUE...than those that lost the home. Also, those that can't afford the payment also can't afford the maintenance. Which means, they're bringing down the value of everyones home on more than one front.

Maybe the responsible ones should get an incentive check for being good?

The program stinks because it doesn't help those of us who pay on time to refinance. I bought my home two years and put 20% down. Now I want to refinance to a lower rate, but can't because my home value has dropped enough where I only have 10% equity and banks won't let you refinance unless you have 15-20% equity.

Leonard is right – it's robbery – this is not what I want my tax dollars spent on. We're breaking our backs to pay the mortgage. If you can't pay you're going to lose your house. It stinks but that's the way it is.

The government is also stealing my money to pay for abortions in other countries. It's theft. I did not elect anyone to do this with my money. Who did? Anyone?

What would you expect from a liberal community organizer ?

Personal responsibility........................R.I.P.

"Americans may not like the plan — but that doesn’t mean they think it’s a bad idea."

I think the real statement here should be "Americans may not like the plan- but what the hell can they do about it"?

It really isn't up to us because those in charge are going to do what they want. So much for being a law-abiding, tax paying, credit worthy American

In all that is done in this world. It's always going to be some people who benefit from it unjustly. Get over it. It could have easily been you.

Yes we pay taxes, but you and I have never had any control of what they do with the tax money. If we had control, congress would not be increasing their salary when they feel like it.

Lets move this country forward.

I am so relieved. I am also one of those individuals that pays all my bills and both my mortgages. Yes, I am stuck in two houses, I was never able to sell my first home after getting into my second, because of the housing market. So I have two mortgages.

What do you do? Let it go? NO!

We just don't have cable, maybe stop feeding my children soon. NOT!!

Work is talking about furloughs and layoffs. So if I stop paying my mortgage as soon as I am furloughed, then I qualify for the bailout.

We aren't done yet people. We are still spiraling downward. Maybe not as fast with the hope of a stimulus, but when it runs out and nothing is resolved, it will speed up fast.

first of all those who are saying obama is making our country worse better think again. he did not create this mess he walked into it . there are many people out there who payed their bills and by the way lost their jobs . if you can't find work you soon will not be able to pay bills if all of your savings are used up. i know i have been there done that.
no one will hire an older person . you have to be young so you can be trained the company's way . plus they feel older people will cost them more for medical. so don't blame people if they can not pay their bills .
yes some may have goten loans they shouldn't have but then blame the greedy lender who gave it to that person. our country is in a total mess . now we need to hope and pray we do get out of this mess that was made for 8yrs. do we want another 8 yrs of lies ? at least obama is trying give him that much or is it because people can't accept the fact that he is black ? he happens to be half white so he is not blaclk

So, who's allowed to own a plasma TV and a car?? Quit bellyaching and believing that every single person who is losing their home or unable to pay their mortgage is a DEAD BEAT. You don't know what caused their circumstance. It could be the fault of unscrupulous banks and finance companies. It could be anything that you don't have a clue about. Some of you act as if only DEAD BEATS have plasma TVs and cars. Some of you are whining and complaining about how unfair Obama's plan is......but it is also unfair for you to lump everyone together into one big DEAD BEAT status.

Ok. I see where those "responsible" tax payers may have some heartburn over this. But just because someone is in dire straits today doesn't mean they were not responsible to begin with. I have a home that fit within my family budget. It was (unfortunately) purchased at a high point in the Florida market. Florida is always going to stay high, right? Wrong. They took one of the biggest tumbles. Now I am being relocated by my job (military) and I can only dream of selling my house and taking a 25% loss on. One option is to keep it and hope to rent it (again at a significant loss). I am stuck! I have to move! I have never been late on a payment, but now I have to maintain a house in Florida while obtaining shelter for my family in the D.C. area (expensive!). So where do I fall in the eyes of those high-n-mighty naysayers? I am one of many people that are being put in this position while serving to protect the tax payers. With no way to get around this dilemma.

I am interested in Loan Modification of my current mortgage. Who to see, call,? Which entity will be the one to contact? Thanks.

Florence Samuel

If you are old enough to have a mortgage, then you are old enough to have learned life is not fair.

So, quit whining. None of us with mortgages not in default like it, but we care for the economic future of America more.

I'd like to see the breakdown of the defaulters race from our new Administration of Transparency.

In keeping with Affirmative Action, if one race be represented too strongly by the bailout, then institute a 'Cap and Trade'...just like Herr Hitl...I mean Obama wants to do with Energy.

It is, after all, my tax dollars that are paying for it, so I have every right to know.

Watching CNN and other channels covering this whole mess it seems to me they think "rent" is a 4 letter word. Given that home costs have departed from costs to rent the same places, people that would lose their home would get to move to a rental that's probably as nice or nicer than the place they lost for less more a month! And on the other side, these efforts slow the inevitable correction which hurts existing renters that have been been patient that would like to buy a home some day.

It is inherently unfair. What is the incentive to be responsible if you end up paying for the irresponsibility of others? People need to take responsibility for their bad decisions. This is more of the same private profit, public cost. The areas that are experiening the most foreclosures ( California, Florida, Arizona, New Mexico) also experienced more of an economic boom in the previous years. those people made out better than the rest of us in the boom times and now they want us to pick up the tab during the bust. THey should have saved some of the extra during the boom to pay their bills during hard times. Oh, but that would be responsible, wouldn't it. I have made mistakes in my life and have paid a price for every one of them. But hey, if 9 million people are going to be feeding from the public trough, then maybe I should just join the feeding frenzy.

To Obama supporter:

I know a little of the struggle you are going through and wish you the best. Life can be so complicated, at times, and I pray you have the emotional and spiritual support that you need as well as financial. I hope I didn't sound judgmental in my previous post. I just want people to understand the impact of not having healthcare is as significant as losing your home. Unfortunately, there are a lot of cold hearted people out there who make rash judgements about people who have problems. I just hold on to what the Bible says, "Judge not that ye be not judged. " I wish that more Christian people were truly "godly". God bless you.

Now the Illlegals are setting on top of the world.

Obama has got a job for each and everyone. Those that need a home , Obama will provide you with one , an a good paying job , more and likely over Union Scale . All you have to do is , vote Democratic . Any futher help , Barrack will get it for you, drivers lic. Need a New Birthcertificate , he will provide that to the illegals also .. For futher information , you can contact Pelosi all hours of the day .

THIS IS YOUR CHANGE < NO WONDER ALL HE KNEW WAS PRESENT < WHEN HE WAS IN THE SENATE.

NEVER LET A CRISIS GO TO WASTE , OBAMA NOMICS

Wow, I am so relieved.

For all those we believe keeping people in homes they can't afford will somehow prop up the market are naive. It is only a temporary delay on the inevitable. These same people will default in large numbers eventually. It does nothing for all the new, unsold inventory. It prevents the reallocation of people into lower cost segments of the market (lower cost homes or rentals) and the decline in prices required to bring in new buyers who can absorb the inventory. In the end, the only thing that will set home prices on an upward course is an increase in demand or a decrease in supply. Construction must stop – it is inevitable. Inventory must be absorbed as painful as that may be – and the only avenue to increase demand is to allow prices to fall and liquify the lending markets. Let the market work. Obama believes he can manage macroeconomic issues I suspect he does not even fully understand as a lawyer. As he is doing is squeezing the balloon.

"While nearly two-thirds think the plan is unfair to those who follow the rules, 57 percent say they approve of the package,"

I'm having a hard time wrapping my head around that.

So 24% of Americans support a plan they think is unfair? Unlikely.

Somebody didn't phrase their poll questions well. That is the only possible reason for these conflicting results.

If your foot gets cut off, will you be able to move around properly?

If part of our economy fails, the whole thing fails. People being out of work and out of homes effect all Americans.

People simply do not look at the big picture, I pay my mortgage, and live within my means, however, because people are losing their jobs, they are also losing their homes, which means my property values go down. It went down in value $7,000.00 last year, if the housing crisis isn't fixed, then the economy continues to tank, more and more homes will be empty and dragging the neighbors values down even further. So, some people bit off more then they could chew, however, if you read the plan those people must meet some pretty stiff requirements in order to get any help. I want this economy to turn around, it's not going to happen unless the housing problems get fixed people. Think about it, and READ THE PLAN!

Mortgage plan is unfair. Stimulus bill is a waste of money. Budget is out of control. Can't find Cabinet members who aren't tax cheats. Wall Street hates his economic decisions. Want to raise taxes. IS IT 2012 YET????

Fair? There's nothing fair about any of this.

You want to know about "Fair?" Call George Bush and ask him why he did this to the American people.

He really is a stupid and ignorant man, so don't expect much in the way of an answer.

Half of America sat back and watched while the Supreme Court selected him over Gore, only to vote for Bush again giving him A SECOND TERM!

Fair? Just getting around to worrying about FAIR, are you?

You're a little too late.....

For all of you who use the word "socialism" that the Republicans keep throwing around – do you even know what it means????

If you hate socialism – then when are you going to sign up to end your Social Security checks and stop receiving Medicare benefits?

Did you know all the "Socialist" Republicans in Congress get an unbelievably excellent healthcare plan from the government for FREE and they have never complained about that??

You should investigate the healthcare plan members of Congress get for FREE. You couldn't even buy this level of coverage if you could afford it! No deductibles – no disease not covered – no worry about pre-existing conditions!! NO members of Congress can dare deny healthcare coverage for Americans when they have the most incredibly excellent healthcare coverage for FREE and oooooh for all you "socialist" fear-mongers, it comes from the government straight to members of Congress!!!! If they have it, then we aren't entitled to what they have ???? I'd love to hear their backtracking on defending their own "socialist" healthcare plan!!

It's not unfair...I pay my mortgage on time but I have an option ARM loan that defers the interest and every month the balance on my mortgage goes up. I'm not able to refinance because I'm under water and the value is noway near what I currently owe. It's about time that someone is stepping up to help me and other Americans in the same predicament and not just themselves.

Unfair? Obamanation does NOT care, he has told us so. Afterall he has croonies to pay back!!!
The Market trashes, he says is my way or the highway. Talks about being bi_partisan – as long as you agree with him.......

Let Barney Frank the Banking Queen bail them out. His boy friend toke millions from Fannie May.

Spare me the speeches. In the past if you couldn't afford your home or you loose your job, you file bankruptcy, regroup and start over. You dont depend on someone to pay your mortgage. You cut the cable, sell one of the cars and sell the flat screens.

My house lost $145k in value, but I still have to pay on the original loan. Because someone went over their head and their house value dumped, they get to rework their principle or get a lower rate. I'm stuck with my principle and I don't see a plan to help me recover what I lost in equity on my home. I did refinance, but I'm still stuck with what I borrowed. You want to do something fair? Extend the loan out to 40 or 50 years to lower the payments, but make the borrower still responsible for the loan amount they accepted.

Welcome to the era of entitlement. The Democrats pushed for loose lending because everyone should have a house...no matter what...everyone is entitled. Now Obama leads the charge to rescue those who should not have been given mortgages to begin with.

This is a terrible precendent to set. Once again, personal responsibility is replaced with government intervention. Nobody likes to hear this, but not everyone should be a homeowner. Those that save up for a downpayment and have the income to make the payments are the ONLY people who should be homeowners.

Now those that made wise decsions are having to bailout irresponsible people. Oh..and don't tell me those stories about the evil broker who was out to get you....those are VERY isolated cases. The majority of people who are in foreclosure fell behind becase they didn't have the income to make the payments.

Leonard: Congratulations on owning your home , that is a wonderful accomplishment. BUT PLEASE, do not be so judgemental. I decided to build a new home and in the middle of construction the sale on my old home fell apart. Now with the way the market is nobody is even looking at my old home , so I'm also trying to sell my new home. I'm paying 100% of my household income to mortgage payments. I'm willing to take a loss, but the market is so bad nobody is even looking. Whether you agree or not, our whole economy has been predicated on the housing market for about 15 years. With that falling apart, so does EVERYTHING else.

Not that I have ever been there, or personally known someone who has, but I do empathize with those that are in the dumps do to catastrophic medical care/bills. I even empathize with those that have lost their jobs.
That said I have to say, the majority of our citizens have zero idea what it means to be accountable for their actions. You no longer need to be rich to have a silver spoon shoved in your mouth, just tell people you didn’t know, you weren’t educated, it’s not your fault, you come from a broken family or you were abused as a child.
If you didn’t learn in kindergarten that “Life is NOT Fair”, you never will. If one lesson can be gleamed from this financial crisis I hope it is: While you may be able to get by not playing by the rules and using your head, when you don’t play by the rules it affects EVERYONE around you.
God bless this country and its people, even as a large percentage of parasites have infected our economy with their leaching, grubbing hands!

Welcome to the era of entitlement. The Democrats pushed for loose lending because everyone should have a house...no matter what...everyone is entitled. Now Obama leads the charge to rescue those who should not have been given mortgages to begin with.

This is a terrible precendent to set. Once again, personal responsibility is replaced with government intervention. Nobody likes to hear this, but not everyone should be a homeowner. Those that save up for a downpayment and have the income to make the payments are the ONLY people who should be homeowners.

Now those that made wise decsions are having to bailout irresponsible people. Oh..and don't tell me those stories about the evil broker who was out to get you....those are VERY isolated cases. The majority of people who are in foreclosure fell behind becase they didn't have the income to make the payments.

I agree with the vast majority of Americans who want nothing to do with the Morgage bail out plan. Is crazy for those of us who have paid our morgages on time for years to support home prices in California and elsewhere. Homes in some states are way overvalued. Rewarding failure is not the way forward.

K. Kelley

I pay my mortgage on time and can afford it. I would love for more people to get help any way they can! I can't refinance because of short sales and forclosures, that is whats unfair. If the government can help you get a lower payment so you can actually afford to live in your home and not ruin my chances of selling or refinancing, so be it.
Whats unfair is people walking away from their homes they knew they couldn't afford and ruining it for us that can. We should all hope our neighbors can refi, maybe their places will be kept up and neighborhoods won't look run down and ruin it for the millions of us that actually do pay on time!

To me the question is not is it fair, it is will it work. If it will work we should do it because it will fix the problem. If it will not work then the point is mute. But what if we don't do it because it is not fair even if it will work. Does that mean the housing market as well as the rest of the economy should not be fixed because to do so is unfair?

These are rough times. I hear people talk about how they did everything right and are now being punished. Sometimes little things add up like being stuck in a house that you can't sell and having to drive 250 miles round trip to work at $4/gallon or watching your grocery bill double for no good reason and having to feed hungry teenagers, or watching your utility bill skyrocket to over $800 (some people's mortgage payment) after you turned the heat down to save money. All of this while having a household income that is double the national average.

I did everything right and had to use credit cards for food and gas(to get to work), I emptied all of my savings in order to keep from going under. That is what is truly unfair

I am glad that President Obama is doing something. This is a whole lot more than what President Bush did during his 8 year takeover. We won't know for years whether it will work or not. but for every Rush Limbaugh fan who wants the President of the United States to fail, there are thousands who wish him all of the success that he can get.

We used our savings (big drop in income) to pay mortgage on time and keep high FICO score. When asked Bank of America to give us line of credit – they refused (base on income). We have huge equity in the house (live there long time). So, we get NOTHING from this BIG PLan, only will pay more in all kind of taxes for SOMEBODY ELSE, who were NOT GOOD (irresponsible)!

Things like this wouldn't be necessary if people simply lived within their means.

Recessions/depressions/economic downturns happen once every decade or so. If you want to live it up when times are good, prepare to come crashing down to earth when times are bad.

I lost my job 3 months ago, yet somehow I can afford to live without a change in lifestyle for the next 8 months and by revising my budget slightly, the next year. I just graduated college in May, so if I can manage to save up enough over 6 months of working, it's possible for almost everyone else.

Why should money the government doesn't have (my generation is going to be paying off the interest and principle) be spent to prop up people who decided to stretch their money to live lives they couldn't afford to.

In America, you don't "deserve" anything. If you want something, you work for it. Not everyone deserves to own a house or a nice car.

Why should everyone else fund the lifestyles of others?

dohdoh:

I may disagree with your logic, but I applaud you on one thing:

A HOME IS NOT AN INVESTMENT! It's a place to live. People who buy homes thinking they are going to make a profit from them should be shunned and branded. They have RUINED the housing market in the US for a generation.

Rethuglican haters out in full force again, eh? Your like the lost dog that nobody wants. Go crawl back in your hole

Stop whining. Those of you who voted for Obama knew what you were getting, or, did you?

People who are complaining about this should have paid more attention during the election. Income redistribution affects everyone not just rich people. If you don't like it, stop voting for people who come out and tell you they're going to do it.

most if not all the people in trouble are black. Remember, little Bill Clinton and the ever intelligent Barney Frank went to Fannie and Freddie and "told" them to make more loans to "those who wouldn't oridnarily qualify". They were out to obtain votes and money from a program that had failure written all over it. Now , as usual, those who could qualify, lived responsibly, sacrificed other things to make that monthly mortgage, have to pay the cost to help those "not so bright". Do we see a pattern here Yet?

Whoops ... better make that "understand". My fingers slipped

Franco Tirado you should be able to refinance. Check with another bank. At this point you should be able to get that nice 5%. Try a credit union or contact Freddie directly.

Where did you take that poll? In a red State perhaps? 99 out of a 100 Republicans do not understnad the Housing Plan and Obama should dumb it down to their level and release it again.

When my husband died, thirteen years ago, I knew it would be difficult for me to keep up payments on a house so I opted for a mobil home which I share with an imperfect roommate. Unfortunately, due to poor health, I have not always been able to work and am glad I made that decision even though there are times when it is frightening to live here (storms). I like Obama but now I am seeing those, who didn't plan ahead, getting a bail out for their expensive mortgages while I have been waiting for almost twenty years for an affordable healthcare plan. Many of my financial problems have been the result of poor healthcare. I'm sixty years old and in poor health - my time is running out.

If the government rewards those who can't pay their bills on time, it doesn't take a genious to realize that maybe they need to get a couple payments behind to get some breaks. If the government rewards those who DO pay their bills on time it will promote everyone to make sure to make their payments, and on time. If they offer lower interest rates and thus a lower payment, it WILL stimulate the economy because people will have more spare cash to be putting into the economy. This means more cars, appliances, repairs, and everything else that makes the "economy go round". Rewarding those who AREN'T financially responsible will PROMOTE IRRESPONSIBLITY and get us even in a WORSE situation than we are in. Use common logic people! This isn't rocket science!!

We took out an ARM years back, knowing full well when it would adjust, what the possible max would be, and knowing we could afford it. When it adjusted it, our salaries were higher, and we refinanced into a fixed. Now, i don't even want to know how far underwater we are on our loan, and I'd love to have a lower interest rate, but we obviously can't refinance now. But when that makes me grumpy, I just figure – we have a home, we can afford it, and I think of it as a home, not an investment. That's just what it'll be for years, and I'm not going to begrudge anyone the opportunity to keep their home.

For the last 20 years people have looked down on my family for living within our means, buying second hand furniture and used cars, living in a modest home. Now those same people who held themselves up as better than us because they "owned" better things want to put their hands in my pocket to pay for them. This is more than an insult – it is an outrage! The only thing many of these people "own" is huge debt. Why should we have to bail them out? Now I can finally afford to get nice things, but much of our disposable income is being taxed out of us. It does not seem fair that those of us who earned the dream are now bailing out those who borrowed it.

My goodness don't be so judgmental............everyone is not a DEAD BEAT.

Well its the Democratic plan to have a bunch of lazy welfare sucking parasites depending on them for everything and then that guarenties they vote Democratic everytime. If you are hard working and play by the rules well Obama just gave you the middle finger and said shove it.

i really had to think on this. i pay all my bills on time, save what i can, so i understand the feeling of not fair. however, i also know that i am smart enought to keep my head above water so the people that arent smart enough can have the help. i am ok with it.

As a realtor and homeowner I applaud this plan. I, too, have always paid my mortgage on time, never refinanced and lived within my means. However, the equity in my home is slowly decreasing with each week that goes by. The average person doesn't realize how many jobs are supported by people that buy homes and people who own homes. Everything from the company that makes nails, curtains, furniture, paint,, lawn care products and more exist because of the homeowner. The downfall of the housing market is over 50% responsible for our economy downturn and until the market is stabilized, our economy will not get better. This plan should have been the first to put in place, ahead of bailing out the banks that won't give credit anyway. And...for the person that said they won't be able to deduct as much of their interest now. That is only true if you make over $250,000 a year, which the average homeowner doesn't.

People, people, people. You haven't begun to see unfair from this clueless, fricking administration! They have only begun to re-distribute the wealth. Wait'll Cap and Trade comes next. That's about $1.50/gal increase immediately onto the price of gasoline, which will jack up the price of everything in this country. Think food prices are high now? Just wait!

You losers who voted for this moron are gonna watch this gang of thugs destroy this country within 2 years.

"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." – Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948

Not fair? Barack NEVER said he was going to be fair. He will take care of his own, like every other failed politician. He does not represent change in any definition of the word.

I too am upset since I have been paying my mortgage regularly, although I could do with some help. However, on second thoughts, I feel that I should get away from the "me only" syndrome, and think of the whole picture. If there are others who could be stabilized with a little bit of help, and can keep up with their payments, this would of course help stabilize the markets and the economy, and this in turn, would help me in the long run. My investments and 401 would probably regain part of its value. So I will accept the for the long term effect. For where would all of us be if there is a total financial collapse. Perhaps it is not fair for now, but we have to help others in order to help ourselves, and can only pray that things will work out even as Limbaugh is praying to his 'god' for us all to fail.

Barack Obama himself is unfair. What can we expect form him. He is brought up on the back streets of South side of Chicago as a community adviser. We have to live with it as we all made a wrong choice. All of us and our children/grandchildren will suffer because of our mistake.

More socialistic BS from Barry. Just another scheme to redistribute wealth. God help the USA!!

I've lost my job and have not missed any payments because we SAVED (yes a foreign concept) money in case we experienced a job loss in our household. While I understand others have been put in bad situations, I don't feel like they should get a free bailout. Maybe they should have higher taxes later to compensate for what they receive from the government now?

For the ones who can pay their homes on time, we should be thankful. hose who can't we should band togetherand help them out!

We are Americans and an example to the world as our founding fathers would wanted it.

The poor will always be with us!

You know, it's not fair to people who pay their bills on time and did not buy a bigger house than they could possibly afford, and did not get "tricked" (I still don't understand how that happens) into an impossible loan with a crazy interest rate. However–for those of us still in our homes, still paying our mortgages–your property value has plummeted. It will continue to fall unless something is done. More people will lose their jobs unless something is done. We will start to see families in homeless encampments unless something is done. So, for all of you God-fearing people who are angry because your money is going to help someone else–Help a brother, will you? Helping others will really help you out in the end, too. Nobody is delighted about it. But this country is circling the rim of the toilet, my friends, and unless you all want to go down in the last flush, stop with the righteousness. If you help one, you help a thousand. And you end up helping yourselves, too.

Ryanna March 4th, 2009 2:13 pm ET

Is fair to bail out the banks and the big cats ? So why not help those who really need it ?
*****************************************
They should have not bailed anyone out. Have these people done everything possible to keep this from happening like took on another job, cut back on their spending, quit going to McDs, stop drinking, quit smoking, sell their car, sell their jewlery, sell their tv, get rid of their cell phones, cut out internet, cable, and etc. Are they getting by on just the bear neccessities? Do they have kids that could do babysitting, clean yards, clean houses, etc? After they do this then and only then would I think about supporting this.

We don't want to reward someone who is irresponsible BUT we do want to ensure that our economy and housing market are strong. If it appears that a person is in over their head then the Feds should let the foreclosure continue but help those who have a reasonable chance of success.

We need to support our president!

Me thinks the Repubs protest too much. Do you think they are trying to take the attention off themselves and put the blame on Obama...let's look for George!!!

The plan should help ALL homeowners. The ones that are playing & paying by the rules would have some extra "mad" money to dump back into the economy. Let's see with some extra money, buy a new American, GM, Ford, or Chrysler, vehicle.

Also, they could cover their insurance, since they don't get all the free benefits like the illegals do. I'm still confused why Congress and that hag Pelosi want to help them. Hello, they are not supposed to be here in the first place.

If people don't get help, we will see a dramatic increase in homeless people, which will also be a burden on the tax paying public, and thus on all the homebuyers who by good fortune or good job choice, have not found themselves without a job nor means to support their families and keep a roof over their heads. It is okay for folks to get some help, especially since the banks bear a HUGE burden in all of this, giving loans to folks who had neither the income to afford such nor the forethought to read the "fine print". Banks should have to eat nearly all of their losses on these bad loans. I live in Las Vegas, the foreclosure capital of this country, and I was formerly a real estate closing agent for an attorney back east, so I know of what I speak regarding bad banks, bad loans, etc. People with no homes have trouble keeping a job, thus more unemployment, guess who pays for that? The wheel goes round and round and if extending some help to folks in danger of foreclosure means that more people get to keep their homes and their jobs and keep spending, then I'm all for it.

I am so sick of people trying to make other people pay for their mistakes. What are we teaching our children? We are teaching them that you can go out, buy a house you cannot afford, run up credit card debts, never pay them. Somebody else will pay it for you. If all else fails, scream bankrupcy and start over. This makes me angry. People, start taking responsibility for your actions. The bank did not twist the arms of anyone to sign for a loan they could not afford. When things started going bad, those same people who loved the banks are blaming them. No one is responsible for your actions except you...why am I paying for people to be on welfare and to keep their homes? This is crazy, we have grown to expect the government to take care of us. They cannot take care of the country, let alone us. If you loose your job, get another one, disconnect the cable, phones, cell phones, internet. Most people still have those things, they are a luxury not a "need".

I called my lender (Countrywide) today and after being transfered numerous times I was told that they won't do anything for me. I have a high interest rate do to a stated income loan. My credit score is in the mid 700's, but after a job loss last year I had to take a much lower paying job and have spent most of my saving to keep up. Since I pay my bills they won't help me! Who is this money really helping? People who didn't make their payments anyway?

Why wouldn't accept a simpler plan:
1. If you are on unemployment you can get a mortgage holiday until you'll get the job
2. Do not count medical bills toward debt or in credit reports – hospitals 10x overcharge for all needed and unnecessary procedures
3. Void any prepayment penalties so people can refinance for a fixed rate

It's not fair.

"but because these people lied to get their loans"

Who lied to get a loan? I've never read one piece of literature on this mortgage crisis that suggests it was caused by "lying" to get a loan.

Maybe lying by the banks to tell you you can afford it, or you spreading lies...but credit checks are real and they exist. You can't "lie" your way into $500,000 home, sorry.

Basically the only people who are getting helped are the ones who are missing payments. If you have made all your payments and you are upside down because of the market (I'm down 32% since I bought in 2007), then forget even calling. We are stuck with our rates.

I understand that we shouldn't expect any help but if they are giving it out, they should give it to the right folks. If you give help to someone who has already missed payments, giving them another chance might not help as much as giving the help to proactive people who have done everything 100% correct and just want a lower rate but can't because the people who have fore-closed have cause our values to drop. <- does anyone see the problem with that...

Bankruptcy for an individual who took a loan well above his/her means of paying – deserved.

Bankruptcy for an institution who gave a loan to that individual, knowing they couldn't pay it, and then stacking a high rate to get as much as possible out of them, deserved.

Criminal charges against companies who targeted lower income individuals to give loans at ridiculious interest rates, desired but not feasible.

Taxing hard working people who have lived within their means and paid their bills, to bail out people in groups 1 & 2 above. (self censored response)

Don't they realize that the more houses that go into default and come on to the market at reduced prices the more the value of their own home goes down? I suspect that's not fair either.

Yes, you guys, it's unfair, a person lost their job, foreclose. Watch your neighborhood fall apart, your home price drop. Think only of yourself.

Take a look at some of the areas that have high foreclosures and you'll see blight, criminals moving in, houses stripped. If that's what you want, continue to think only of yourself and let's spend another trillion dollars helping Iraq's rebuild their inferstructure, not ours.

Yes, you guys, it's unfair, a person lost their job, foreclose. Watch your neighborhood fall apart, your home price drop. Think only of yourself.

Take a look at some of the areas that have high foreclosures and you'll see blight, criminals moving in, houses stripped. If that's what you want, continue to think only for yourself and let's spend another trillion dollars helping Iraq's rebuild their inferstructure, not ours.

America is a Christian nation is it not?

Doesn't Christianity say to help those less fortunate?

So if you are a Christian and are against this program..well you have some explaining to do to your creator.

We have to do something!!! or else these foreclosures are never going to end!!! lets quit the whinning people and move forward!!! someone call a waabulance!!!!!!!!!!!!!!!

I bet most of the people complaining don't have a clue what the rules are for this. It won't help those who bit off more than they can chew.
And for those who complain they shouldn't help those in trouble, then I hope when you need help, like with a house fire, or flood or tornado or whatever it may be, that you don't ask for help from anyone. Why should anyone help you, when you are so unwilling to help others?
I don't have a mortgage, but the housing crisis affects me through the economy, less stable neighborhood, declining home prices. It makes sense to help those who can be helped. I would rather give the money to these people than to the rich and Exxon Oil.

So the solution was to force banks into giving money to people who couldn't afford to repay it, out of some warped sense of social responsibility. And now that those who we knew couldn't repay their loans will not repay their loans, we give them a mortgage break out of some warped sense of social responsiblity.

I they have learned there lesson how?

The next thing coming will be to wipe out the credit card debts of all of those who have bought large screen TV's, home entertainment centers, and game consoles.

The current administration is stealing my money, I hold them personally responsible. They better hope they don't meet me in the streets.

This equates to welfare – take from me so that someone irresponsible (yes if you failed to plan for unemployment you are irresponsible) can continue to own a house they could not afford. Oh, and by the way I am unemployed and still making my mortgage payment.

All the poll shows is that a majority of people have no understanding of who is going to be helped by this program.

Shocker there.

I am one of those who bought a home within my price range, am not behind in my payments, still have a good job and receive a paycheck every 2 weeks. BUT, the price of food and other commodities is becoming hard to pay for. Since I have been married (23+ yrs) our bills get paid first then food then the "nicities" of life. What do we get? How is this billions of dollars helping us, the ones who pay their bills but still find it hard for the "nicities" like food?

Thank you, I can finally afford to buy a house.

Thank you for not pays your bills, because of you behavior the rest of the county finally wake up.
I’ve spend years saving for my house and yet I couldn’t afford it, yet you’ve saved nothing and were given the house of your dream. I don’t expect you to do better in the future, but since were bailing out bad behavior you are entitling to your cut.

Instead of giving these corrupt bankers and auto execs, among others, over two trillion dolars of "our" money to pay for their "waste and mismanagement", the government should have given taxpayers that money. It would have been spent on servicing the bad credit that we just bought from the banks, and they would have bought products and services which would have supported the entire economy. As it is the top one percent of the elite are hoarding that cash for their own use there by starving the larger economy. Good work Mr. President et al, I must say even though they are happy to see him fail, I must agree with the reptilians when they slam these actions by the admin. Once again, I am an independant so the whole thing is a huge joke to me anyway, good luck everyone!

If we as a nation are going to pay the downside for these bad mortgages, we ought to stand to gain when they appreciate again. The public policy is not about making people whole; it's about avoiding even more financial and economic meltdown. There's plenty of pain to go around, but it ought to be clear that we'll help those who are overextended but still treat people who were careful in a fair way.

This virtually stinks! My wife and I have paid off our mortgage, yes, that's right, paid it off! We have lived within our means and did not go out and get drowned in a 'jumbo loan' or an ARM. We lived within our means. It's about time Americans stop living beyond their means and be content with the necessities and not their wants! taxes being used to fund this are basically "robbery" from those of us who act and live responsibly! Amen!

I don't have a house. So why should I pay for someone else to own one?

It's not fair that:
people can't find affordable homes,
people were given home loans they couldn't afford,
people are unable to rent an apartment , get a job or obtain a loan because a foreclosure ruined their credit.,
people lost their home because they lost their job because the economy collapsed.
No it's not fair. So stop making your mortgage payments and face the consequences. I guarantee that you will know you're being treated unfairly.

Gosh I read all of this and think what have we come to. I think the people that this should help should be those who have lost their homes or are about to because they lost their jobs or have had major medical debt and had always paid their bills on time prior to that but have come to a situation where they just cant any longer because of these two things. The people who went out knowing their income couldn't support the house they were buying shouldn't get help on this.

I know that home values have declined but they were so OVER inflated to begin with it was scary. Thankfully when we bought our home we were smart about it and didn't do what so many other americans did.

Shame on them for that!

PS – to Obama supporter below

You've had a tough go of it lately. I hope things look up for you and your family and I hope that this program helps you. But you are the atypical case. Most people in this country who get into financial trouble due to mortgage, credit cards or even medical bills are people who live way above their means. If everyone worked 45 hours/week, only had children if they could afford it, lived on 85% of their salary and saved 15% of their salary and did community service things would be different. If people paid off credit cards every month and bought homes no more than 2X their salaries, most bankruptcies wouldn't happen. People would live more modestly but then wouldn't get into trouble when something unexpected happens.

I pay my mortage on time never been late in 12 yrs. Yet since I am self employed on papers I dont show that I make what is required. My interest is 7% and I would love to bring it to 5% or lower if possible.
MY bank, Washington Mutual, said that I dont qualify still they get my payment each month for lots of $$.

So you would think that they also know that if I am able to pay on time then FOR SURE, I will more than pay my bill with a MUCH LOwer MONTHLY PAYMENTS which also will save be over 7K

Now with the new Obama plan will I be able to refinance at a lower rates with a lower interest?
Any help out there??

Who cares the people that really need the help will never get it from the goverment anyway. I say thow all the bumbs out!

I lost my job in May 2008 and I also receive no help on my COBRA insurance eother. The government does not believe anybody loss their h=job before September 1, 2008 anyway.

I believe if we do not do anything that moves this country forward, we are going to be drastically in a worst crisis. I am a contractor and the housing market is worst then you think. I believe 25% of the population loss jobs when the housing market came to a crunch; this would involve mortgage brokers, remodelors ( like me), developers, realtors, investors, bankers, sub-contractors (like plumbers, hvac companies, excavation, ect.). The economics in the housing market is finally leaching into the all of the economy. The answer is create jobs!

Look I pay my bills on time before buying food.. so I am not one who will be asking... but what I do know what is happened with the housing market has made us loose the value of our home because others can not afford to pay .. my mortgage is lower than the value.. but others aren't and what happens to them hurts us who are paying. i don't mind them getting help... in the long run it will help me.

People have to open their eyes and stop worrying that someone has more ice cream than they do.. We are in this together... what hurts one will eventually hurt us all so stop begrudging people getting help... that does not mean the guys who are taking a bonus for screwing up..

There will never be a plan that fits all, serves all and fixes all. As long as the plan does not hurt the ones that think it is not fair and helps a good many, I see no problem. If this plan helps to get our country, Republicans, Democrats or others, back on a course that moves the country forward it must be considered a successful plan.
What the congress needs is less idealists and more realists and a genuine desire on the part of all representatives and senators to move our country forward, not just parts of our country, but the country as a whole.
All will not be fixed in a few months. Give things a little time to work and foget polls. They really do not tell the real truth much of the time.

who cares what the value of the home lowers to. a home is to live in, not an investment.
just like your car, you use it, it loses value.

who cares, my house could be worth a dollar i could care less. don't put all your money into a home. this bailout is the dumbest thing to slap in the face of the ones who are actually responsible and smart enough to live within their means.

I agree on the unfairness about the mortgage adjustments Obama is planning to make for those who are about to lose their homes, however the real impact to those of us who have and continue to pay our mortgages on time the real unfairness is that there are no adjustments made to our mortgages to help us and on top of that he plans to reduce the amount of mortgage interest that we will be allowed when we file our income tax. This is a real gouge on those of us on fixed incomes, retired or disabled.

For anyone who thinks they are not being helped by this plan because they paid their bills on time and didn't overextend themselves financially, consider this: if you have neighbors who did not borrow responsibly, and they lose their house in a forclosure, the value of YOUR home will also be affected. Abandoned houses on your street or your neighborhood will lower the value of your house.

if i don't make my house payment anymore can i get free gov't money
so i can?

Is it me or are people really as stupid as I am seeing? My husband and I have a mortgage and have comfortably paid it for the past 10 years. But in less than 6 months, due to cutbacks on his job, my husband's overtime reduced his take home pay to half. I didn't get an anticipated raise last year, but we were still making it. I have a chronic disease that I have to undergone chemotherapy for in 2007 and will have to do it again August of this year. My out-of-pocket medications were running more than $800 a month two years ago.

On Christmas Eve last year, we were caught in an ice storm on our way to visit relatives for the holidays. We slid off the highway and flipped over a couple of times into a ditch. I had a broken collarbone but my husband was relatively unscathed. Three weeks ago, my husband was diagnosed with Stage 3B lung cancer. Because of all of this, we will have to let our house go because we can no longer afford it. We have repairs that need to be made that we are not able to get funds for. And guess what? Our payments are still current.

I don't fault anyone for what they may or may not have to do, but people need to stop being so judgmental. If you are able to pay everything on time and you have the money to do it, God bless you and I hope you don't lose your job or get sick. As it turns out, we tried to get a modification before the stimulus, but they weren't doing it then. I'm tired of fighting. I would just as soon go cheaper by renting a house that we can better afford. By this summer, that's exactly what we're going to do.

boston irish: actually obama didn't support it.

You guys and gals that couldn't wait to get out vote for someone with the Senate record he had will now live with what he has proposed...and with what our 'distinguished' representatives have rubber stamped. (Hold them accountable next election......!!)
A lot of people are complaining now.....but he told you that he would spread the wealth. What did you think that meant??? Come on!! Use your brains before you cast your vote for anyone. Do research. Don't just vote without having a clue what is coming. He told us. "Spread the wealth.....spread the wealth." You know as well as I do what that means.
I didn't vote for him. I saw through him from the beginning.

I think the housing plan is a good idea, but there has to be limits. I think the interest rate should be lowered only to current rates not as low as 2 percent... and the banks should extend the loan for more then 40 yrs. Reduce the rate to a fixed 5% and extend the loan as much as they need to do so the bowwers are paying 31% of their monthy income on the mortgage payment. This way the borrowers are still paying back all the principle.

No! life is not fair! But do we have to have our noses rubbed in it... I pay my bills on time and taxes and everything else on time not because I like too, but because I am responsible for my debt.
Those people that purchased a $150,000.00 house on minim wage and now are complaining that life and the bankers are not fair. that is ridiculous to me.
Be responsible for yourself and stop the "I want it now " Attitude that you have. The "Messiah Obama's" policy will not work ,and will likely take our country down a path that will make our fore fathers spin in their graves like a chicken on a barbecue rotisserie. He is a socialist you know the kind that will say "Lets spread the wealth" not unlike the former soviet union communist parties edict. Our brave men and women who fought for this country and paid for it with their lives in current and past wars only to have democracy replaced by a socialist government have died for what?
I believe that equal opportunity is the way, not equal share of something you didn't earn. Just my two cents....

Looks like all the Messiah's apostles are on this blog. Not too representative of "the majority" apparently. Jonestown...

I paid my mortgage on time since day one, but I am not getting $1000 per year for doing so. How in any way is paying somebody to do what they were supposed to be doing in the first place fare? WHERE'S MY $5000 FOR DOING IT RIGHT???:

When you have an economy with so many offenders and everything is interconnected, you are bound to help the bad along with the good to help the overall mission. There's really no other way to do it, because, whether some of you like it or not, our lives are interconnected, and, as the President put it, we rise and fall together as a nation.

I see a lot of responses on here blaming the government for the situation we are in now. Well I would just like to remind everyone that we are the ones that sat idle while this was done to our country. Why worry about real issues when you can watch American Galidators and The Bachelor every night. If all of the people posting comments want to find someone to blame you simply need to turn the finger around and point it at yourself or just look into a mirror. The fact of the matter is these things have been happening for a long time and we did nothing to stop it. Don't blame Obama, don't blame Bush, blame yourself for not taking action against a government that has done nothing but take both civil liberty and finance away from you.

It boggles my mind the way Republicans think. "Tax and spend, tax and spend", that's all they say. Some day, perhaps wishful thinking, they will realize that the true problems come when we spend WITHOUT taxing which in reality is where the problems have come from.
Where the heck do they think the money is coming from. Seems like the grand plan there is to spend up the ying yang and then wait for Dems to gain the power and then point out the taxing part.
So answer me this, who are the real deadbeats not paying their bills?
To "taking responsibility" this is directed to you.....you say that

If Obama and his Democratically controlled congress want to push their Socialist agenda, they should do it on their own nickel; not cover up their intentions in rhetoric aimed at scaring everyone into submission.

This is EXACTLY what I mean! "Covering up their intentions in rhetoric aimed at scaring people into submission"???

Where have you been the last 8 years?!!!!! SERIOUSLY!! WHERE HAVE YOU BEEN?!! NO NO NO, SERIOUSLY!!!!!!!!!!!!!!!!!!! WHERE HAVE YOU BEEN?!!!

Turn off Rush, put down the oxys, and join the world.

I just don't understand how so many Americans seem to be able to go through life with blinders on. Wake up people! If the economy keeps going down and down and down, we ALL go down! Why can't you people who are complaining and spewing such hate understand that?? Even IF you still have your job, even IF you still have your home, even IF you still have your retirement . . . the country will be going through another depression if we don't take huge steps to stop this. It's NOT about socialism, it's NOT about rewarding "bad" behavior, it IS ALL ABOUT SAVING OUR ECONOMY AND THEREFORE OUR COUNTRY!

I love Obama, but yeah, the mortgage plan is unfair. I did everything right, my condo has dropped in value by an unbelievable amount but there is nothing I can do about it. I should have bought a huge place, at least I wouldn't be living in 600 sql ft.

This is the whole problem with our country, too many greedy people. It's all about "me, me, and me. What about us. We should all be willing to help each other. I am 62 yrs old , work 2 jobs, and barely make ends meet. I am running about 2 weeks behind on my mortgage and can't get caught up. I am charged around $30 extra for my lateness. I had surgery and had to go without pay for 2 weeks and this got me behind. I'm sure this plan want help me. Let it help people that need it more. . I am not complaning like the rest of you. Having a home means everything to me. If this plan can help people stay in their homes or help them out with their mortgage so they can get caught up., I say "Praise God". Greedy people don't have a clue what it means to do without. Don't judge until you walk a mile in some one else's shoes. God will be pleased that we help each other. Some people have lost their jobs, does that mean they are "DEAD BEATS". Rethink that quote, you may be in the same situation some day.

We should all appreciate what our President is doing for us.
He is doing his best to save this country. There are fortunate
people that can pay mortgages on time and a lot of people
that can't. What is wrong if we help people that are in need.
We are all Americans and should stand for each other.

President Obama you are the best President and please
continue on your mission for America. We appreciate everything
you do for us.

Gene /Connie Garvin

This comment is for "melrose" We did! YOU Lost!

To the comment below "To the critics of Obama: what the hell is your plan and why didn't you run for president?" The point is, Obama is President and he hasn't done anything, in my opinion, that is going to hasten the recovery of the economy. The market needs to make it's own corrections. This has been true since the market began. Spending money we don't have and printing money that makes our savings worth less is "truly" NOT the way to go about helping the economy.

The companies like GM or AIG that are failing, should be made to fail; break them up, IPO the pieces worth saving and be done with it. Credit? Who's kidding whom. Nothing is going to stimulate the banks into lending money until that can wipe the garbage off their balance sheets and begin anew. Let the banks declare the losses and move on. We'll save our selves and our children "gagillions" of dollars in this stimulus package BS. If Obama and his Democratically controlled congress want to push their Socialist agenda, they should do it on their own nickel; not cover up their intentions in rhetoric aimed at scaring everyone into submission. I am in my mid fifties and have been around long enough to know that the only thing going on here is that my retirement pension and 401K is going to be worth a lot less than what it should have been and that's not fair.

I worked my whole life and paid into the system. I and other like me, should not have to bare the burden for the crooks in the mortgage business and wall street who bilked the system. Send them to jail, I say.

Last thoughts: Green renewable energy and health care for all is something this country should be working on job 1. Take a system that has worked, such as England's Health care system, model ours after it and be done with it. The US doesn't have to reinvent the wheel all the time. It's OK to do something that works.

Take Responsibility People. Stop Whining!!!!

Just like the witches' chanting "Fair is foul and foul is fair" in Act 1 of Macbeth;
Change has truly come.

No of you mustnot be watching the markets today. Once the news was released that borrowers can start getting relief today, the markets responded positively. The plan may be unfortunate, but it is necessary.

Well I guess your answer is to do the same thing we have been doing for the last 8 years - which by the way is what got us in this mess in the first place. The GOP has no answers– they just want to whine– they have no plan– their plan is just do more of the same– more of the same things that put us into debt.– The GOP just just wants to spend the money on what they want to spend it on– the war– they sure have no problem spending billions of dollars a month on that–but they sure don't want to spend it on their own country– the hell with us– just fix up all of the other countries and make all of their wealthy friends wealthier– like Halliburton.
They are a disgrace– they just act like a bunch of babies– and Limbaugh being the biggest baby of them all– he needs a big pacifier to go with his big mouth.

To had it: I thought that I could not either but it happened last year. So do not be discouarged. Miracles happen everyday, it did for me. We are all have an opinion about the bail outs. We hard working americans are always at the mercy of the greedy, Including Bank of America. I could tell you about them but it would only discourage you. Hopefully writing my senator will help.

Hung in there, it will get better.

Our President is making a bad situation 100 times worse. Yes things were bad at the end of the last administration. But that is because the Dems were in congress his last two years. We were warned of the housing crisis years ago. McCain and others pointed out the problems with Fannie and Freddie and the Dems in Congress ignored it. Now we are rewarding people for not paying their bills. We are tripling the national debt and spending out of control. The market has completely tanked since Obama took over because investors have not trust in the way he is handling the economy and adding all this spending. Nothing he has done will fix the stock market. It will not get better until he stops using our tax money and leaving major debt to our children.
He really does not have a clue.

Yes "Really", that is it exactly. No one else has even a clue on where to begin to fix this mess. SHame on those who criticize every move on someone who is trying, why anyone would have wanted to inherit this mess is mind-boggling anyway.

We are, personally, one of the lucky families. Kids grown up (more or less) with no help from tax credits that started too late for our family. Our house is paid. It's small, humble and needs work. But, it's paid for, otherwise we'd be in a mess too since spouse was laid off with 2 weeks notice.

I don't want to see more people lose their houses. Yes, I do hate seeing those who lived beyond their means getting help. But, every new foreclosure brings with it a lot of trickle down effect.

It doesn’t matter what Obama does. Housing prices have to come back in line with income. Until that happens housing values will continue to drop. Your houses are a long term investment. You should not care what your house is worth until you are thinking about selling it. It is a home not your bank account! The Obama plan may help some people today but it will just create a bubble. The market has to fail for it to grow back other wise we are just creating another bubble.

To everyone who is calling for help. If your home has lost value just keep living in your home its value will come back. It is a home not a bank account.

To everyone who can't afford their payment. You saw this coming but yet took the risk. Any of these mortgages that were not fixed you knew the cost would go up.

The Obama plan does not help anyone who lost their job or got there salaries cut. You have to prove your income and that it will cover the adjusted mortgage. Please read the plan!

Add another to the poll... I believe this is unfair too. We are preached to by the government to live within our means, to make good choices and decisions. By doing so we get the small stick. Cost of living increases, inflation... but still we preservere. Not as much can be said for them... why can they not govern within there means?

I feel that the rewards of this stimulus should be equally distributed, to each American and to each American business. Not just the ones that are in trouble or whom why believe need it the most. We could all use something.. but lets be fair about it.

We pay our mortgage on time, so yes the plan is a bit bias. There should
be a provision for those who are not in foreclosure, but I did vote for
change, so I can't sit around and cry about it. We'll just keep doing what
we are doing and hope for the best down the road. Everyone needs to
look at the big picture.

Jero- I, along with many Americans may not get the things in life that we always want. BUT....we still all get to decide who we vote for. No one can change that.

Here's another first for you liberal pukes....Obama will be the very FIRST Bi-RACIAL President to serve one term in office. Just counting down the days...we've had enough of amateur hour...

The diabolical, dudgeoned, and darin' diatribe against BHO's mortgage plan bein' unfair, is, forsooth, quite palpable. We feel that the plan may need more people-friendly proddin' and pokin' by a panel of professional personalities, so it can appeal to all. Look people! We realize it ain't easy to satisfy all, but the ire instigated by economic instability, a strong force to reckon with, needs to be kept in mind, and a compromise has to happen to harvest happiness.

This is bullcrap and not about what about me its my money paying for people who couldn't afford the house that they bought and not about people who lost their job its about people who had a job and keep spending and spending and spending not thinking about tomorrow.
So I don't have a house but i am going to pay for someone who does and can't afford it. and i understand that alot of these foreclosures are house flippers who got greedy and bought up houses and can't resell them so we are going to pay for them too. And I am not going to think about what is best for this country because i already pay enough out of my paycheck for people on welfare and food stamps. So where is my break Obama-oh i forgot i am white and i don't get a break. And i am not a racist but because of what Obama is doing its going to make me one real fast.

Some people need to learn how to read...if you want to get into the program you need to provide information to prove that you can make the payments, as well as your overall monthly budget. This is going to ask people to examine their finances and make hard choices, but the goal is to stablize the housing market.

It would be one thing if President Obama were in power when this mess started ... then we could say perhaps he is to blame. BUT .... he stepped into the presidency trying to undo the damage that was caused by the past 8 years of non-leadership and soft-shoe politics. I wish people would step back and let President Obama do his job .... he is doing the best that anyone can in this situation and trying to help get America back on track. If the non-Obama supporters want to point the blame at someone, direct it to George W. Bush .... who fell asleep at the wheel with no driver's license to boot!

Rudy, I still have a job not because of Obama but because of the education I invested in a the career that I went into. Obama's union plan on the other hand will cut my pay and may make me lose my job. Obama is as good of a President as Zaphod Beeblebrox.

The media's bias in the election was unfair! No watch the economy really tumble!

St. Mathews 25:40 reads And the King shall answer and say unto them. Verily I say unto you insomuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.

The wealthy people who are true Christians are not complaining about helping others. Some of us do reach back to help others who are less fortunate than ourselves and do not complain...even if it's in the form of more taxes for we know that we are blessed to have more.

God bless America and have mercy on her people.

thats what its all about..making us all dependent on the government

Reatte Beaumont, Texas,
You are the an ignorant!!! Who started the crazy mess I think it was BUSH and GREED....You idiot!!!!

Who in the right minds would want to be in the situation to ask anyone for help on saving their home for what ever reason they are losing it. Repugs = TREASON
Bush took American tax dollars, funded a war that's was a lied and help build Iraq, a people that hate America guts and you are mad that Obama wants to help OUR American people, to stay in their homes and help your property value HA, you got to be kidding me....idiot!!!!
God ain't blessing the old greed America!!!!!!!!

I know 3 different people who are about to lose their homes due to unemployment. They are not lazy, irresponsible people. Their mortgages have low, fixed rates. You all need to chill out and see if this works. Nothing in life is fair. The sooner you realize this, the less stressful your life will be.

It's Replican'ts who think Obama's the
"Messiah".

Less than 2 months in office is long enough to bring an economy back from the dead?

Not even they're leader Rush Limbaugh could do that.

Just a reminder that a big piece of this program is NOT intended to somehow reward the poor judgment of people who bought homes they couldn't afford. My wife and I pay our mortgage on time and are both, thankfully, still employed.

Currently, mortgage rates are significantly lower than they were when we purchased our home so we'd love to refinance. The problem is that the market value of our house has plunged so dramatically that our lender will not refinance our mortgage to allow us to take advantage of the lower interest rates because we've lost nearly all the equity we had in our home and our loan-to-value ratio is now too high.

The program rooled out today is meant, in large part to provide funds to the banks (not borrowers directly) so that responsible homeowners who've seen their home equity evaporate can take advantage of lower rates, maybe knock a couple hundred dollars off their monthly payment, and start pumping money back into the economy again.

Folks need to stop with the knee-jerk GOP response that every government program is a handout for deadbeats and scofflaws. Learn about the program and what it does before ranting (and making a fool of yourself) online.

at least the help has begun, maybe it won't help me, but it will help America.

I make my mortgage payments. But I still worry about the market value of my house, and if my neighbor's house goes into foreclosure, it will hurt the value worse. How is it unfair to me if my neighbor gets help? I haven't been wronged by that in any way. Nothing has changed for me, except that my house value has potentially been helped.

Of course it's unfair and favors a free handout. This is Obama we're talking about!

Nothing I want more than to pay my mortage and someone else's. I don't care why someone is losing their house. To put it on the taxpayer tab is wrong any way you look at it.

it's VERY UNFAIR! The only people who like it are those looking for a free handout OR the poor folks who don't really understand it, but merely say they like it because it comes from Obama not Bush. As witih most of Obama's initiatives, it hurts those for working hard and trying to prosper. Sounds like Chavez in Venezuala.

Rudy @ 2:53

You are right, life isn't fair. So why do i have to pay for someone else who bought above their means, took lavish vacations, and has a new 52' flatscreen tv?

I am not an Obama hater, instead an Obama voter. But this bill is crap. I am doing everything right, but because these people lied to get their loans, my property value has sunk, and I can't refinance and take advantage of the new lower rates because I am upside down.

Which means....Rudy is either really rich, or he is one of the 9 million who this will benefit. Either way, the majority of Americans are getting the shaft with this plan.

People, do not confuse this bill as a crutch for people who lost their jobs. This is not designed for that, or else it would specifically say that this is only an option for those who have become unemployed within the last year.

This is a crappy spending bill, plain and simple.

I've stated it before .. But I don't see a problem with helping homeowners that have been stiffed by provable, VERIFIABLE, predatory lending practices by sellers or mortgage lenders.

As for those who simply got into too much house ... Uh .. NO! Not one DIME of my hard-earned money should help them out! What's next in "helping" out these irresponsible people?? A bailout for their credit cards or their auto loans??

Sheesh!

Public housing was created to help people in a time of need. Some people have made it a way of life for multiple generations. Throw welfare into the equation and finally now the icing of the cake. ...bailouts from OBAILYA to a part of society that
a. doesn't deserve help (they aren't trying to better themselves)
b. somehow got houses that they couldn't or can't afford (conveniently blaming the banks for giving them the money)
c. people that 100% were buying houses on a speculative market (hoping to hit it big)
d. has contributed nothing to this country

The bottom line is this "PLAN" is garbage. I worked hard my whole life. Paid my bills. Went without alot of luxuries (funny how many "unemployed" have cell phones, cable....whos paying for that? And now you think its right to reward people for fiscal irresponsibility. I don't get it. My mother recently lost her benefits through GM cost cutting...yet the stinking unions (there was a time and place for them but not now) still think they are owed for alot of jobs that monkeys or robots could do. Unions add 33% to the price of anything they are involved in (fact). You could save all of us $ by eliminating the unions. I also prepared for this day when a marxist/socialist would fool people (especially younger ones claiming we need change) by saving and not spending everything and taking on debt. As for this "PLAN" creating 3.5 million new jobs is laughable. Take February stats: 700,000 jobs lost ...but 60 were created yesterday. woo hoo. Lets see we gained 60 but lost 699,940 jobs. Its working like a charm OBAILYA. Keep up the great work ...moron.

He can't help everyone especially those whodon't want "help". A lot of idiots went out there knowing they cant afford these houses and got them anyway. It is going to help those who truly need the help

I have a home, I have always paid for everything i have bought and for my credit cards. I have a great credit score and I do not make alot of money. PEOPLE, STOP COMPLAINING BECAUSE SOMEONE IS TRYING TO FIX THE ECONOMY. IF EVERYONE AROUND YOU FAILS TO PAY THEIR MORTGAGE, YOUR HOUSE WILL NOT BE WORTH VERY MUCH. STOP THINKING ABOUT YOU, AND THINK ABOUT THE GOOD THAT WILL COME OUT OF THE SOLUTION BEING PRESENTED FOR THE MESS WE ARE IN. 'YES' MANY PEOPLE WERE GREEDY AND STILL ARE, MANY PEOPLE BOUGHT THINGS THAT THEY COULD NOT AFFORD AND THE LENDING INSTITUTIONS WERE AND ARE HORRIBLE. BUT, WHAT ARE WE GOING TO DO - ADD INSULT TO INJURY AND LET EVERYTHING SLIDE EVEN MORE BECAUSE IT IS NOT FAIR. WELL, IT IS NOT FAIR BUT IT HAS TO BE DONE. STOP COMPLAINING – YOU SOUND LIKE THE REPUBLICANS THAT ARE ALWAYS COMPLAINING BUT DO NOT OFFER A SOLUTION. JUST SIT TIGHT AND WAIT FOR THE COUNTRY TO RECOVER BECAUSE I REALLY, REALLY HOPE, FOR THE GOOD OF ALL OF US, THAT IT DOES.

This is a revamped plan of the Hope for Homeowners program the Bush administration came up with last year. That program which had good intentions was flawed. As is this program. The original plan set out to help 400,000.00 homeowners avoid foreclosure and only 25 people benefited with 451 getting through the inital application process. The "new" plan which has very weak benefits to servicers and lenders will flood the call centers, overwhelm the underwriters, and eventually fall flat because although " guidelines" were released today they are filled with holes. The lenders and servicers have not been informed or have had time to review the pricing impacts or lender requirements for sale to Fannie or Freddie. This is another case of an administration shooting first and aiming later.

Proud Army Navy Mom,

First I doubt you are. Many claims on this sight and I doubt them.

Second, THE WAR WAS NOT ILLEGAL.

The House and Senate both voted and said yes. NOT ILLEGAL.

Finally, The information that was available to the President, The Senate Intelligence Committee, and to the House was all the same.

President Clinton agreed with the Action and had the SAME information.

The information may have been bad, may have changed, or may have been misread, But in fact it was the same information and Everyone
that mattered came to the same conclusion.

Get your facts and statements correct before you speak.
By the way, GET A JOB AND PAY YOUR TAXES.

All of you who are against the President for helping the homeowners keep their homes. Please keep your jobs and don't get sick. Because these situation can happen to you. If any of you whose against this, you can lose your job today or get sick and then you won't have any income. Please tell me how will you keep your home?

Some seem to have forgotten that there is a foreclosure crisis and economic crisis to solve – thanks to eight years under the former president. Also, since when have mortgages ever been fair? Look at the rates and fees the banks charge for these home loans and then complain about what is and isn't fair.

If you can not afford your house sell it and move into an appartment. Don not make the rest of the country pay for your mistakes. I am sorry but not reading the fine print is not my fault or the banks fault its the person who did not pay attention and/or gambled that the economy will stay strong fault. Take ownership of your mistake and move in with relatives.

It would be easier to lower interest rate to 4.5 apr 5.0 for everyone who own a home. But a lot of homes are over vauled buy a house for $100.000 five years later property tax man say it's worth $130.000 now you taxes and insurence is set $130.000 alone with 321 buy down so your payment goes up.

@proud army navy mom – Funny, I didn't hear that sentiment when the republicans sends our kids to fight an illegal war.

They weren't forced to go. They VOLUNTEERED to join knowing the odds were that's where they would end up. Everytime something happens in the Obama camp that people aren't really happy about, the Iraq war is brought up. Just remember, the majority of congress backed Bush including OBAMA. When it became an unpopular war, then all the supporters changed their minds. Sounds like they want it both ways – Popular, I'm for it, Unpopular, Oh I'm against it.

Well get use to things not being fair for the next four years. Obama is a Socialist. So if you work hard and plan ahead things aren't in your favor.

I thought this was freedom of speech. To the person telling other to shut up with the crap!!!! I say he needs to let other voice their opinion whether it to his or her liking.!!!!!!

I am a home owner and bought a home last year. I bought a home I could afford. For those that those they could have it all easily, you need to be right where you are now. Learn a lesson hopefully.

Bank of America is the worst when it comes to be fair on their bank credit card. They upped a payment amount and I did not realize it. charged me for a 9.00 dollar oversight of 39.00 and lower my credit limit of 7,000 to 2,100. And I had previously a year ago paid them off in full 5,000 plus dollars. That is not fair.

A pox on both their houses, Democrat and Republicans alike. Election after election, we are presented with nothing but poor choices. Before his "greening," Al Gore looked to me like a "guy who wanted to be President." No particular reason, he just wanted to be. The American people thought so too, and we got stuck with Dubya. Think about it, Democrats – if you weren't so dead set on putting a screaming Liberal into the White House, we might have had a candidate more "normal" people would have supported, and Dubya would be a footnote. The lesson wasn't learned 4 years later, for sure, because the Democrats once again trotted out a tedious idealogue in Kerry, and, despite a failing economy and and unpopular war, Dubya kept his job.

The last time around, the shoe was on the other foot. The Republicans nominated the tired Conservative, and added the Ultimate Right Wing (super-conservative, Christian and hockey mom) to the ticket just to make it really unbalanced. So, America chose goofy Liberal over goofy Conservative.

When I fly on an airplane, I sit as close as I can to the middle of the plane. I like it when the pilot does about the same. Having things run alternately from the far right and far left wingtips, by far right and far left wingnuts, is no way to run a country.

All of the banks who accept the economic stimulus money should lower interest rates (about 2%) on all their home mortgage and home equity loans. If they don’t comply, they should not be given billions of dollars. One good bailout (given to the banks) deserves another (given to the borrowers) bailout.
This would save time, paper, stress, and money while helping the economy.

Waah! I'm behind on my $740,000 mortgage! I only make $18,000 per year as a greeter at Walmart, but I told the mortgage company I made $300,000 per year!

Wait, all I have to do is sign an affidavit and I get to stay in "my" house? No problem – I lied to the mortgage company – I have no problem lying under oath.

well...if someone gets a decent home and lose job, thus potentially lose home. I don'tmind to help them. But the majority poeple lose home due to excessive life style,: big house you cannot afford to, cerdit card you cannot pay off. An I live my life frugally and becasue of that I have to pay more.
Even so, if you loose your home, it is not the end of the world. Move to aprtment, build your life back up. Learn to be sufficient rather than asking for help ALL the time

The administration should stay out of this and allow the markets to cleanse themselves. The program is utterly unfair. Take someone who, with very modest means, responsibly purchased a home that he/she could afford (whose principal began at less than 31% of his/her income) and applied 20% of their own savings as a downpayment to finance the mortgage. That person did not take an abnormal risk hoping for an abnormal return. That person recognized the abuses of Americans, during the past several years, who took more risk than they should have... and bet that if he/she did the right thing... he/she would win in the long run. This program makes that responsible individual a loser. This is absolutely unbelievable. I lose, not because I did the right thing, but because the government takes my money to bail out those who did the wrong thing. To the argument that my property value will be supported - I would rather my neighbor be the person who wisely waited for value than the person who unwisely chases the Joneses and was bailed out. Unbelievable, absolutely unbelievable.

Who is John Galt?

The poll is probably still a bit off when you take into consideration those that want to give the President the benefit of the doubt this early in his administration.
Some of us could see the writing on the wall and sold. Others hoped for the best and watched their homes value dissapear and others just outright lost thier homes becuase of bad governance. and for those who are lucky enought to not be victims of the economy of the coprorate world, they will now become victims of the government.
Sounds to me like all but 9 million Americans will lose on this deal and that's not 28% that said they approve.

Reading this article made me sick! 57% believe this to be a good idea, BULL-CRAP! This just follows along with CNN's liberal roots on printing garbage like this and hoping that Americans actually belive it. Not only are us honest, hard working, tax paying, morgage paying, Americans paying for the bail out of the auto industry, the banking groups, but now will be paying for un-educated freeladers because they can even make their house payment on a house they should not even be in in the first place. what's next ,will be required to put their 6 to 12 kids though collage too, because it is not fair that only the privilaged get a higher education...un-believable!!!!

Pissed Off In Texas!

Life is just not fair, and it never has been. A lot of people can come up with that analysis. I am a single person, no children, I don't own a home, and I work with people who are economically disadavantaged sometimes because of the choices they make, and sometimes because of the world they are born into.

In addition, I have been paying my share of taxes without very many breaks all my adult life (20+ years). I don't have time to whine about fairness. I do what I do for the good of humanity, and I sleep well a night for it. In the next year or so if I can see the wheels of our economy moving again I will be pleased to know that someone out there deserving benefited from the sacrafice, and as long as I am breathing there is still a chance for me to have a little piece of the pie as well...and that is my point; I just want the pie to be there, so I can have a little.

Whining and complaining has never accomplished anything; it doesn't make life any more fairer for any of us, whether we deserve or not.

I think we should blame the whole financial crisis on gay marriage.

I am writting on behalf of my daughter. She was paying her mortgage and all was fine until her mortgage bank said they maid a mistake and she owed $6000.00 more on her mortgage nand to pay up or the would start forclosingn procedures on her house which she has lived in for 6 years.
Does any one think that this is fair doesn't she deserve some help? especially when the bank she got her mortgage from is getting alot more help than she is asking for.
Her name is Michele Gilespie and she lives in Neptune City NJ.

I am writting on behalf of my daughter. She was paying her mortgage and all was fine until her mortgage bank said they maid a mistake and she owed $6000.00 more on her mortgage nand to pay up or the would start forclosingn procedures on her house which she has lived in for 6 years.
Does any one think that this is fair doesn't she deserve some help? especially when the bank she got her mortgage from is getting alot more help than she is asking for.
Her name is Michele Gilespie and she lives in Neptune City NJ.

Tommorow I'm going to buy a house I can't afford, move out of the projetcs, then quit my job (if I even have one, other than pimping or drug dealing), take advantage of all the government give aways, whine and complain about how I'm being discriminated against because I want to have 10 kids while not being married with 10 different people soI can have the government support me because I wasn't responsible for making the mistakes I made. Don't you just love big government???

My house is worth twice what I owe on it and I want it to stay that way. Bail out those folks who knew they could not afford it. Then when the market returns make them sell and split the proceeds with the taxpayer.

Gee, Democrats really are a disgusting bunch, are they not? Can we just have a civil war and be done with them already?

Most of the people requiring new loans were screwed by the predatory lending practices that were being waged due to DEREGULATION, i.e., REGANOMICS. Conservatives are such pigs. It is only welfare until you, yourself need help. This is America. We help each other. I would rather my tax dollars or future deficits go toward helping people who were screwed in this country than rebuild a school in Iraq. Come on people!

We have three types of buyers.

Buyer #1 Purchases a house he can afford, makes his payments and can stay afloat if life changes
Buyer #2 Has money to purchase a house he can afford but the banks offer him a sweet deal on a bigger more expensive house that will come to haunt him once the time period runs out or there are life's changes.
Buyer #3 Can't afford a house but the banks offer him a deal to get him into one anyway.
All but Buyer #1 gets bailed out.The Government uses Buyer #1taxes for Buyer #2 & #3.
The Slick Willy's at the banks get bailed out too!
Why not close down the Banks, let the mortgages fail, and give anything that might be left to Buyer #1. He seems to be the only intelligent one that can get it all together. Help them if they need it due to this economic mess that #2 & #3 put us in. I agree that we are punishing the prudent and rewarding the greedy and stupid!
Isn't this like "Taxation without representation?" Who is representing Buyer #1, the one who is bailing everyone else out?
I've gone down to the HRO and claimed 10 kids, No more taxes from me. I need it to pay MY mortgage so I don't become a welfare home owner like some we are bailing out.

Look, I pay my mortgage on time and I think this plan sucks.

That being said I say this because it directly gives me nothing; indirectly if the irresponsible people who didn't read the fine print or bought a house they couldn't afford get help it might stabilize the prices I I might recoup the 30% value that my house has lost.

Still I am a firm believer (and I hate sounding elitist) that not everyone can own a house in the US. That's the dream not the reality.

Stop the whining, already!

If they go under, we all go with them.

Get a clue.....

There is a reason for bankruptcy and foreclosure laws, USE THEM.

How do you answer this girl?

She lost her father 4 years ago, 20's, living at home with Mom, working a full time job and going to college full-time. Completed her tax return for 2008 where she paid $4,873 in federal / state employment and income taxes on $22,000 of wages and received a $21 refund.

Her best friend who is unemployed, unmarried with a new baby living in a apartment alone on food stamps and other public support just received an income tax refund of over $6,000.

She asked me "What am I doing wrong?"

Somehow my reply to be patient, that she's doing everything RIGHT, seemed to just echo in the silence afterwards.

No Andi – this is legalized theft. It's not a question of getting caught. People bought homes and, for whatever reason, are now unable to afford them. So what happens? Money is taken from me and others like me and given to them. In some cases the banks are told that they MUST negotiate new loans for less than what is still owed. Again, this costs those of us who bought what we could afford and and pay our bills.

people who made terrible and greedy decisions--if you've done the right thing, you get NOTHING. So suffer-you elected him.

All you selfish whiners moaning that it is "unfair" to you because you have been able to pay your mortgage on time, must have missed this bit of the plan:

"Homeowners who HAVEN'T missed a payment can refinance into lower-cost loans even if they have little or no equity. This is expected to help up to 5 million homeowners."

There is something in the plan to help just about every struggling homeowner provided they NEED it. Whether they have been making payments on time or not. You people must just really love to complain.

It's not selfish and greedy to feel punished for paying your mortgage on time. The "less fortunate" were in fact not "victimized" by their race, gender, physical disability, sexual orientation, etc. They were "victimized" by their own greed. This is a plan that in fact rewards selfishness and greed – it's bailing them out for being stupid, while those who were more restrained are forced to endure the insult by underwriting it.

This is nothing but a political attempt to enable some dysfunctional part of society so they can make them dependent on a caretaker government. Genuinely underprivileged is one thing: enabling greed is an entirely different one.

The New Ponzi, What do you call a fraudulent loan ? An Obama.

Jump for joy all you want you idiots, this plan just stinks.

I am fed up with all the bailouts! I want a bail out for doing all the right things and still being screwed by banks, CC companies and the housing mkt. It is totally unfair how those that pay timely cannot get a break just like the dead beats.

Rudy,

How do I still have a job because Obama acted fast? The stock market has tanked ever since. Check your facts and come back.

Here's what I consider to be appropriate punishment for those convicted of unethical and criminal behavior that resulted in the worldwide financial crisis we are currently experiencing, which necessitates the bank and mortgage bailouts:

1. Those convicted must work the rest of their life. No retirement; they work until the day they die.

2. They must work the highest-paying jobs possible.

3. Of their salary, they are given $2000/month to live on – for the rest of their life.

4. The remaining amount above $2000/month goes towards repaying the taxpayers who bailed them out.

The only way these people will "get it" is to send a very clear message that this kind of selfish, calculated greedy behavior will not be tolerated.

We need to hit these greedy SOBs where they live: make them suffer financially, in the harshest terms possible.

I still have a job because of Obama? Did I read that right? Obama, he hasn't had to do or did anything for my company. Its called good business practices. Mabye that is something that the rest of you should learn.

Its not fair that my husband lost his 100k+ job and is now making 28k.
We love our home and we worked hard to get it. I hope this plan can help us just until we can get back to where we were 5 months ago. I would never ask for help if WE didnt need it. We signed the mortgage paper and we planned on keeping to the terms but with my husband making so much less WHAT CAN WE DO?

If I call my Mortgage co, and tell them I'm not going to make the next 2 payments will they let me refinance and reduce my loan? Maybe we should all do that and everyone can qualify in the USA. what an Idea.

I also think that the president's mortgage paln is a bit unfair especially when it rescues people who were thoughtless about their abilities to afford a house. However, to put an end to the mortgage banking crisis and get out of the financial disaster that the country is in now, it seems to be the right thing to do and I support him for taking this bold unpopular step.

It's absolutely unfair to everyone that lived within their budget and paid their bills and it's wrong. It's a bad plan... to reward greed and irresponsibility...

It's rather amusing the number of comments by "responsible" home owners who say they will just stop paying their bills so they can have a hand out too. I don't see that as responsible. I've never been a something for nothing kind of gal. Why not reward those of us who have ALWAYS done right and then hit a little bump in the road (usually not our fault)? Ohh, I see it's because we're too busy giving money to AIG and other corporations. I get it, I get it!

The biggest frustration to me is how financial "geniuses" on Wall Street who came up with these bogus investment "instruments" have so totally wrecked our and the world's economy – and how they haven't paid any consequences (yet).

Talk about an entitlement attitude! The Wall Street bozos wanted deregulation so they could make money hand over fist – and when all their schemes inevitably failed, they come crying to the government to bail them out. And, because of the devastating consequences of letting them fail would be catastrophic, we have to do it!

We need to re-regulate the financial industry and prosecute to the fullest extent of the law all those responsible for creating this mess!

have you seen the piece on CNN on Saturday about the guy who has 200K house, refinanced it with fraud statements, got 340K, spent the money on something, he doesn't know exactly on what, and now he has chutzpa to ask (and will get!) more help to stay in the house! Would you give him money if he asks you?He already has his house for free and you will be paying him more! So fair!

What ever happened to being accountable for your own actions? These people took out loans they could not afford, and they should be held accountable. The banks who made these loans should also suffer the consequences. End of story.

I guess that all I need to do is get deeply into debt and then stop making my payments. The government will bail me out. Gee – I wish that I had known this a long time ago. I could have had a lot more fun.

YOU guys voted for this idiot, now live with it and stop complaining. The worse is yet to come.

REVOLUTION!

Unbelievable:

I'm sure you mean well, but please explain how you have personally seen Obama's plan "in ACTION." The mortgage relief plan was only formally unveiled this morning, 3/4/2009, and parts of it will require approval by Congress before taking effect. It will be some time before the first homeowner will receive any aid from this proposal.

Stop asking the man on the street his opinion of complicated, weakly reported pieces of legislation.
50% of americans can't identify the 3 branches of government and you're asking them if a complicated, economic program is equitable ?

Enough with the polls.

I think it would be fair to all if those who gets bailout on personal mortgage now are paying back when his or her condition is better and able to pay back all or pay back some potion of bailout. Getting bailout on my tax dollar is not equal getting free load.

i am a renter, this bill is a slap in the face. to all the dembots...what part of lower house prices = affordable housing dont you get? apparently, you think that the generations that follow you should pay more for housing? if there was no mortgage interest deduction, housing would be even cheaper. high home prices are good for landowners and bankers, think about it, the rich getting richer. if we pay less for housing, we have more money for the rest of the economy and create jobs. i am sorry some people paid two or three times what a house is worth. education is expensive...walk away and start over. i am willing to help people who bought houses at 3-4x income with a standard loan and have 6 months of living expenses saved in a cd, and little other debt. if you cant live on unemployment and savings for many, many months, you are reckless and deserve whatever happens. unfortunately, not many out there i would help.

May not like some getting special treatment.... but I don't like the recession worse!

All you complainers, please be quiet or direct your outrage where it truly belongs, at Bush and his mess up. I don't need any help, but I know plenty of people who do and want them to get it.

I don't like seeing people get special treatment, but I think I'd like a complete economic collapse even worse. At least they aren't sitting on their hands crying like publicans.

Stop complaining about this not being fair.

It may not be fair, but we learned life is not always fair.

It is the bank's fault, the default swapper's fault, the home buyer's fault, investor's fault, Bush's fault, Clinton's fault.... and the list goes on and on. Who's fault it is makes no bit of difference now.

Now we have to stop the problem.

This carefully crafted bailout apparently spreads the wealth from "nobody" to the needy. This is a disguise. It funnels even more of YOUR money to wealthy bank execs.

For those who believe this is not a long-term problem or one that happened overnight – it is difficult to realize now that gas prices are lower than last summer, how that devastating surge of prices in gas, diesel and natural gas impacted consumers. Some people had to use credit to pay for gas – to get to and from work and school, to work their second or third part-time job. They ran up credit card debt because maybe their city didn't have good public transportation, or maybe they worked at night and public transportation was unsafe. Then, when the economy started sliding they lost one or two of their 3 jobs, and couldn't make a payment. So what does the bank do? Let's see, he can't make a payment at 9%, so let's jack his rate to 30%, that ought to make it easier on him. Then when he defaults, we'll ask Uncle Sam to bail us out for screwing him so bad he couldn't take it anymore." Then the same thing happened with his mortgage.

This happened. It happened not once, but hundreds, or thousands of times in the last 6 months. It happened in large part because of corporate greed and the oil company profiteering led by you know who. And now that Crawford's village idiot and Darth Sidius are out of Washington, the mess is dumped in Obama's lap.

Helping someone else isn't a punishment just because you might not be in as desparate straights as they are. How many Christians really believe good God-fearing Christian Americans who have been victimized by this system don't deserve some help?

On the issue of fairness: EVERYONE with a mortgage below a certain amount (I think around $725,000) is eligible for the plan. Regardless to whether or not you have been paying on time, you can still get your loan modified. The entire point of the plan is to keep people in their homes by saving them money. Even if you paid on time in the past, paying less can help. This plan IS NOT designed solely for delinquent borrowers. Please read the CNNmoney.com article on this.

Not fair = "what's in it for me" I will not receive direct benefit but rather indirect benefit from home price stabilization. I still don't see the changes in the mortgage lending process though. I receive those same stupid BS offers in the mail that are at the root of the problem.

I didn't see one post on this...

HOUSING IS IN THE MIDDLE OF A CRASHING BUBBLE FOLKS!!!!

The whole point of a bubble bursting in an economy is for it to lose all the air underneath it. The average median price of a house more that doubled over the last decade to well over what it has been for the past 100 years (relative to inflation).

We have a bubble in housing, and it's bursting. You cannot prop up home prices. We will simply make things much worse.

PS... if we are getting a housing bailout, then what is stopping the American people from demanding a stock market bailout. There is no difference here.

YOU TAKE A CHANCE AND INVEST; EVEN IN A HOME. If you lose, suck it up, learn, and try again.

I have NEVER missed a payment. My credit card company just advised me they are raising my interest rate. This at a time when interest rates are down. I suppose they are taking money from me to compensate for those , including individuals, that the government is bailing out.

"From those according to ability. To those according to need".
Carl Marx

"Spread the wealth around".
Barack Obama

So why the misleading headline CNN. It doesnt reflect the story content

We can thank the Clinton administration for the su prime fiasco. Just surprised it took this long to manifest itself. While it's a great idea that everyone can own a home, the truth of the matter is that some peopole aren't willing to put in the work it requires to make a mortgage payment every month. Others were told they could afford a lot more house than they needed and really could afford . This bailout takes away the idea that individuals need to be responsible for the actions. There's a large segment of the population who will now think that if anything goes wrong, Obama will take care of it.

Idaho guy~your a LOSER!!! Just a complete LOSER!!!!!!!!!!

The problem is that this foreclosure situation is not only affecting those who couldn't afford those homes and took those loans irresponsibly, but it is taking down homeowners that at one point in time were paying their bills in time with no problem -but because a family member has lost their jobs due to the economy tumbling down, they are now forced to foreclose for the mistakes of others.

Barack is a joke for a leader.

The clown has no idea what he is doing.

Even better is his PRESS SECRETARY GIBBS:

That clown calls out people every day at his press conference. In the last 2 weeks he has called out: Jim Cramer. Rush Limbaugh. Rick Santelli.

SOUNDS like poor little barack cant take the heat when people question him and its not just Limbaugh. Santelli of CNBC called him out. Now JIM CRAMER of MSNBC and Money fame said "the WORST detraction of wealth by any President" What this means for you little people that dont understand is that as President little boy blue obama is ruining the national economy BEYOND what President Bush or anyone else has caused.

He is ruining the economy by not letting it make its own market corrections.

Stay out of our lives barack, you are only screwing things up worse.

By the way GIBBS is a whiner and cant take the heat.

You only realize the value of your home when you sell it and if you use the value to borrow more for luxury items that depreciate like a corpse decays, you are a stupid fool and should lose your home.

I for one can see both sides, however I am also one of the lucky ones who has a secure job, and own my own home. Not everyone took mortgages larger than they could afford. Many lost jobs and the inability to pay. Americans are suffering right now, and heaven help us that we should not have empathy for those that are. It should make you aware of how each of you with the turn events could find your self jobless and homeless.

To the critics of Obama: what the hell is your plan and why didn't you run for president?

All I hear is boo hoo those horrible people that just lost their homes because they couldn't make their payments. So sorry but how am I responsible for that? When did personal responsibility die? My landlord decided to pocket my rent money and not pay their mortage. Guess what? She's getting money from this crap while I have to move my entire family on a moments notice. So don't give me this boo hoo crap. Some of these people are messing up other people's lives because they're selfish.

It's unfair. $729,500 is the cut off point. It is patently unfair to those who live in a much smaller house and are in no danger of foreclosure.
How's everybody else coping with the "Change"?

I'd LOVE a mortgage but can't get one due to a recent job loss. Can I cut my rent bill by over 60% and only pay $500 a month?

I'd definitely say that this bill is unfair. They get a bailout cause they borrow irresponsibly? Oh well better than the banks getting it I guess. Oh wait, the banks are askin' for even more bailout money ... Oh well.

Whatever happened to personal responsibility? I agree with Limbaugh, and I don't even listen to him. If Obama's goal is to create a socialist country, which clearly his decisions and policies are pointing him to, then I hope his plan fails as well... Our country is built on free-enterprise, that is what has made us great... not politicians, the constitution and our freedoms. And don't give me that, how dare you say that about Obama attitude. Tell me the Democrats and liberals weren't rooting for failure in Iraq!!! And that was lives they were playing politics with!!! Hypocrites!

Stop asking 'What do I get?' and 'Where's mine?'

We are trying to help the country as a whole. It's sad if you judge every decision by what you 'get' out of it. That's the same ideology that thinks it's ok to steal if you don't get caught.

This affects all of us. I pay my taxes and while this plan will not directly benefit me I am still not opposed to it. If there is a chance it will help my fellow Americans who are struggling with the current housing crisis, fine. I'll get on board. I would much rather invest my hard earned dollars in this sense than squandering it away on an ill-advised war or on tax cuts for the filthy rich who don't need them anyways.

Where's the accountability for your actions! What a mess! Not fair for those of us who are accountable.

BO got elected by those who are on welfare and want to continue! Most of those who respond in favor of BO, can't spell, let alone put a sentence together.

This will be his first and only term!

There needs to be transparency on who is getting this for there is surely going to be misuse and abuse.

Give me a break. The recession itself is unfair to those that paid their mortgages, didn't bite off more than they could chew and in general made good financial choices. But there isn't anyway to make the recession only affect those that made bad choices.

I regret my Obama vote, Why in the world did we americans send a boy to do a mans job!!! His policy on mortgage is just another reason that Obama will fell this country. Last real president this country has was Bill Clinton. Started to believe that Hillary Clinton is and was the real choice american had.. Only wish we could go back in time...

11.6 million unemployed people and 9 million borrowers will be helped. 67.8% home ownership ratio. So this would mean 7.9 million of those 11.6 million would have homes. It is comforting to know that the home ownership ratio among those laid off is higher than the average...

Obama haters! you just don't get it!

What's in it for you? You still have a job because of Obama's fast act. Be greatful!

Life is not fair. deal with it.

CRY ME A RIVER! WHA WHA WHA!!! GEEZ people this is AMERICA!!! When people are hurting and losing thier homes they should GET HELP!!! If you can afford your home God bless ya, if you cant, then there is help. For God sakes, lets spend BILLIONS AND BILLIONS to give Iraqis the right to vote, but screw our fellow Americans! This is a sad country, and I am ashamed of every single REPUKE and thier hollier than thou whining crap! SHUT UP!!!!!!!!!!!!!!!!!!!!!!!!! You whine when the neighbor forecloses and hurts your value, you WHINE when the government helps them, your pathetic!!!!!!!!!!

Remember too that the banks were getting these people into homes with no money down, then raising the interest rates on them over night. Its not just the people's fault- the banks helped.

I still do not see any benefits to the Stimulus Plan. I still wish he would have sent me a bailout and let me start my spring and summer breath takingly free..

Oh mighty liberals please share your incredible intelligence with this simple conservative. I have lived a life based on my own hard work. I am starting to see the error of my ways, so please use your wisdom to teach me how to be a victim. Teach me to understand that by the mere act of saying you will do something it is the same as real action. I now understand that when Our Personal Savior Obama says HE will start a program to give ( INSERT VICTIM GROUP HERE ) Heavenly printing presses magically print money. Teach me how to get "MY FAIR SHARE " of other peoples work. Thank you liberal America for once again allowing me to believe in Peter Pan. Your keen grasp of how to improve your life with other peoples money and possessions has become my shining beacon in the distance. Thank you so much for all you have done for America

I would rather my house value go up because my neighbor's house is no longer in foreclosure.

My house value has dropped to $30K less than what I owe on it because of foreclosures.

I did not buy a house I could not afford, my house was fair market when I bought it. I did all the right things, so it is not fair that my house is worth less because of foreclosures, but I am glad someone has a plan to stop the bleeding. In the long run it helps us all.

Now maybe I will be able to eventually sell my house for what I owe.

Fair? Show me examples where government programs have been fair, so I have something to compare it to.

I'd rather help out fellow Americans than Haliburton and all the GOP cronies. Do you really think the rich white guys in Congress care about you? They want your vote, so they can get back in power – they won't do anything for fellow Americans.

Is it fair to bail out Wall Street and the Auto Industry? Is it fair to send soldiers to the Middle East without proper equipment for a war no one wanted but Haliburton and Bush? Where was the cry of 'unfair' for the past 8 years? It's only unfair because some talking head told you the President is going to take your money away and give it to someone else? Give me a break. Think for yourselves.

I have a client who is 85 years old, always taken the "offer" from Wells Fargo on "extra money equity" and now owes $120K on a house worth $80K with an interest rate at 12.25% and doesn't understand how she got there.

Wells Fargo tells us that she's "good and performing" on the mortgage so they can not help out anywhere - and the agent's suggestion was to "default" three payments so she'll be in default and then they can at least get the rate back down to under 6%!

This seems to be the new mantra for Obama - do wrong and be rewarded, do right and suffer........

well maybe these responents would change their mind if their next door neighbors house went into forclosure thus lowering the value of the home of the person paying on time. It would be nice if we could get in a time machine and go back 6 or 7 years and do this all over the right way, but since we cannot, we have to do the best we can now.........and as someone who has been paying on time and whose biggest investment is their home, I sure as hell hope someone(the govt or whomever) would step in and keep my neighbors from going into foreclosure, if they have to.

This is so typiclly us, and by us I mean., U.S. and not in a bad way. I might not be fair but it it's going to fix the problem, we have to deal with it. I think that shows that we're a can do kind of people and will do whatever it takes.

The plan only help those who are paying their mortages. You have to be up to date in your payments. The media are not doing their job.

If you have to be current on your mortgage to get help, why do you need help?

Owww, your whole life isn't fair, you don't get the girl you wanted, you will never be king etc. STOP WHINING! AND LET THE MAN DO HIS JOB!

i am so tired of people moaning and groaning about the unfairness of it all. Funny, I didn't hear that sentiment when the republicans sends our kids to fight an illegal war.

This plan is for the betterment of all Americans, suck it up and live with it or move to another country.

Can you imagine the far-worse nightmare we'd be in right now if McCain had won the election?

McCain, the guy who said the fundamentals of our economy are strong? My gosh, the unemployment rate would be far worse, foreclosures would probably be tripled by now, more banks would have closed - I really glad Obama's in the Oval Office. At least he understood from the very beginning that our economy isn't sound.

Obama knew we were in trouble, McCain didn't, and in the immortal words of the G.I. Joe cartoon - knowing is half the battle.

Don't make the perfect be the enemy of the good. Better a few scammers, liars and people who were just irresponsible or stupid benefit, even if unjustly, than that the innocent and conscientious people who were lied to, overcharged or laid off suffer.

Besides, everyone (except me) benefits from this because it will stabilize home prices. I've been hunting for a first home for the last few months but prices in my city still aren't down to something I can afford.

To Gene: You are wrong. Convservatives don't want to spend money rebuilding other countries, policitians do.

To sky: It is very hard for me to buy the notion that, in the home buying process, the lender's were able to completely take advantage of the homebuyer in the way you suggest. The Truth in Lending document lays it all on the table for you.

When we bought our first home, a lender "pre-qualified" us for a $150,000 mortgage. We knew that we couldn't afford anywhere near that much house payment, and bought a house worth about $65,000. Had I actually purchased a $150,000 house, and then had trouble making the payments, you would have faulted the lender as greedy?! Yes, the lender would have made a bad loan decision. But ulitimately, the responsiblity rests with the buyer. You want to talk about greed? How about the greed involved with the person who buys a home that they cannot afford? Where is their responsiblity in all of this? It makes me angry that I'm going to end up paying not only for my own house, but for portions of houses for people who bought houses they couldn't afford. And I don't get any equity in those!

Heh, heh, heh,....just the begining America. If you think this is unfair, wait till the reparations talks begin...coming soon.

For those banks that did not accept bailout money the modification process is still voluntary. Banks won't modify loans for people and take the government incentives if it will benefit them more to proceed with foreclosure. The most this legislation will do is let people who bought during the peak and are making good on their payments qualify for refinancing even though they may be underwater.

Everyone who owned a home pre-2002 saw their homes practically double in value because of the speculation and Wall Street greed over the last few years. Nobody had a problem with their home values skyrocketing in a short time, but when the market corrects 30%-50% all of a sudden everybody's crying about how unfair things are.

Bailout stinks! What is the incentive here for people to be responsible and what is the message it sends to those who HAVE BEEN responsible??!!! What a mess.

Umemployment was this high at the start of the Clinton administation so saying it has not been this high in 50yrs is not being honest. Saying that it is umemployeement that is causing everyone to foreclose is also not honest. I did not upgrade to a 500K house like others in my community b/c I would not be able to sleep at night knowing that if my income decreased I would be up the creek without a paddle. Instead, I payed down my mortgage and got my monthly payment with taxes down to $1200 a month! If I would have upgraded, pulled out equity, bought that fancy new car (mine is a 1991 with 234k miles on it), TV, vacation etc...my monthly payment would be in the 3K range and the ability to take any job to make the payments would be next to impossible. This crisis was brought on by the mentality that if my neighbor gets granite countertops then by god I'm getting them too. Cry me a river! You were the ones bidding up the price of housing with the gotta have it now mentality. Let the housing prices crash more, then I can swoop in with the money I saved and buy up property to rent to all you loosers who didn't plan ahead because our entitlement society will bail you out!

Fair is not the issue. Stemming the housing market decline is the issue. If this measure becomes a salvaging tourniquet on the hemorrhaging housing market, then it will have succeeded. I too wish I were included in the largesse, but I am happy to be included in the residual benefits.

I pay my mortgage on time every month.

I will be helped by this plan because it will help stem the tide of foreclosures in my neighborhood which are causing my home's value to plummet.

Oh and it may keep my perfectly nice neighbors who've lost their jobs through no fault of their own keep from becoming homeless.

Seems like a win/win in my neighborhood.

Is that so hard for you Rush wannabes to figure out?

Whats funny to me is that republicans like to throw money to war to save another Country, but then they complain about helping people here right at home??? I would rather my tax money help people here then those that are over there.

Also, What ever happened to dawinism, "the strong servive." Were going to screw up this whole world if we are saving everyone and everything that is suppose to die.

In a world where lenders act responsibly and only loan to individuals that can realistically pay back the loan, in a world where lenders accept responsibility for the loans that they write, in a world where all home buyers are not totally relient upon the lender to make the correct decision, I would say let them sink. However, this is not the world we live in, the world we live in have lenders padding the income on the loan application to reflect at best the gross if not more, rather than net, we have lenders who plan on bundling and selling the loans they write before the first payment is even due and the ink has dried on the contracts, and then we have our buyers that are clueless as to what they are getting themselves into totally in the hands of the lender.

To those that are making their morage payments my hat is off to you, you are reaping the rewards of a home buyer making payments on time with your excellent credit history and the knowledge that you have not destroyed your credit worthyness.

To those that bought with the idea that a fast buck for a fast turn around, well never gamble with money that you can not afford to lose. To those that just flat out bought way to much house, ever think about a boarding house. Those that were poured into homes that they can not afford by leanders are the ones we need to target. Somewhere along the line there was a lender that was lining his/her pocket while knowing full well that these individuals could not afford to get into the deal that they were setting them up in, these are the buyers that we need to help, and the lenders that we need to put in jail for fraud.

This *is* unfair. I haven't bought a house yet because I want to make sure I can do it responsibly. Had I known the government was going to come in and give handouts, I'd have bought one already too. F- this, who is helping me get a house for me and my beautiful son?... still paying rent that I can't seem to get out from under.

And personally, I benefit more if this plan does NOT go into action. If the foreclosures continue, the prices continue to fall, I can now afford to buy my house right next to YOU and I will likely pay 40% LESS than you did.

Works for me. Let it fall!

We are all so eager to blame either Wall Street or our Government for the economic crisis we are currently facing. Why don't we start placing a good portion of the blame where it really belongs? Right at our own feet. Wall St. nor the government forced us to borrow, borrow, borrow until we could no longer see the bottom. We played a big part in doing this to ourselves people. Wake up and smell the coffee and help to find a solution instead of sticking our hands out looking for a hand out..

Groups like Acorn pressured the banks to increase home loans for minorities, even if they didn't qualify due to their credit history. President Obama used to work for Acorn, and now he is trying to help clean up the mess he was part of creating. As usual the dems want responsible Americans to take care of Americans who have a culture of irresponsibility. We are on a fast track to socialism, and the President is purposely dragging the markets down with his doom and gloom speeches. He knows he can't lift everyone up to the same standard of living so he will level the playing field by dragging productive Americans down to the level of the so called disadvantaged. It's all about forty acres and a mule folks, and it looks like Farrakhan is finally going to get the reparations he has been crying about for decades.

I spent 20 years in the workforce living in apartments, working hard, saving and saving, scrimping and scrimping, and waiting until I could afford to buy a house. I finally did just that about two years ago. It's MY house and I paid for it outright by MYSELF without any help from anyone. And you know what? I'm pretty proud of that. But our government has not rewarded me at all for all of my patience and hard work. They ARE however rewarding individuals who have not been as responsible with their finances. Unfair? Of course it is! As far as the situation where otherwise hardworking folks lose their house because they've been laid off, why didn't they plan ahead and set aside some money to get them through such a situation? If they can't afford to do that, they're living beyond their means and probably shouldn't have bought the house that they're in to begin with.

I find it interesting that the partisans here take the side of THEIR party's ideology. The mortgage crisis is a bipartisan problem that has increased its scope to include the past three administrations. The concept of fairness is interesting, but the real problem is that the plan DOES NOT cover the SCOPE of the probelm. Let's leave ideology out and bring in an American plan

This administration is a joke. They have no clue as to what they are doing. Why have there not been any investigations of Fannie and Freddie or Barnie and Dodd. The real culprits of this whole disaster. It is only a matter of time before you libs will finally realize what you are doing to this country. I only hope the adults can get back in power before it is too late.

To all those people saying preventing foreclosure help us all... it doesn't help me. I saved money for down payment, and hoping the house price would come down to a reasonable level, it now finally coming down, and government suppose to use MY tax dollar to help other people pay their house which I couldn't live in???????

Why should I have to pay for someone mortgage that should have gotten a adjustable rate mortgage on a house that you could afford to start with. I paid my mortgage and on time for years and I was smart enough to get a fixed rate. It started with the clintons wanting everyone to get a home that had no job but that is okay because the rest of the americans that pay there bills will dig out the ones that don't. It is not my fault or the ones that pay there bills. This is nothing but robinhood in the brightest moment in our country and I hope that the americans wake up and start to fight this if not we will look like a third world country and it won't take long either. And when the money runs out from the rich the ones that are looking for a hand out good luck because your life will be like the rest of us. I just hope that we can get someone that is for the american people in four years either democrat or republican I don't can as long as they are for live and let live by the laws of our land and that is not happening now and it will get worse when the health care comes along and we have to let our seniors suffer for another and that is the day that I hope the good LORD comes back and does away with the world as we know.

GOD BLESS AMERICA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
hope this is the change that you people wanted!!!!!!!!!!!!!!!!!

It is NOT unfair!!! People screwed other people who could not afford to buy a house JUST to make a buck!!! If you are one that this did NOT happen to and bought within your limits(I live in a mobile-paid cash and love it) BUT live in a neighborhood with banckrupt homes your homes value has gone way, way down and it would have been better for your neighbor to have stayed and paid(at least what he could) than leave and turn the neighborhood into a getto!

Dave,
Yes, I voted for Obama, and I am very happy. He is working extremely hard to right the ship of state, you know, the one Bush almost capsized with his unlimited war spending, torturing people, and spying on all of us? Maybe you should read about the DOJ atrocities under Bush...bet you change your tune about Barack. But wait, Rush hasn't told you about it yet, because W was the patriotic one who loved guns and America. Bull.

So many are saying this is unfair "to those who paid their mortgages on time." Please realize that only owner/residents who are CURRENT on their mortgages are eligible for this plan. It does NOT reduce the principal amount of the loan, but re-sets the annual payment at no more than 31% of family income for several years. After that time, the rate will gradually adjust to an average current rate.
Please read the actual proposal before you form an opinion.

Why should owners who pay their mortgages on time as agreed be called deadbeats, losers, etc? None of us are certain our family income is safe from extended illness, lay-offs or salary reductions.

I, for one, do not want to live on a street full of empty, foreclosed homes. I'm not at all sure that out-of-town lenders will be providing lawn service to hundreds of those homes – which will create headaches for entire neighborhoods by summer.

This is just more of the Democrats "Entitlement" beliefs at work. It was their belief that every American was entitled to own a home, regardless of whether you had a job or income to pay the loan back, thus forcing the banks to make bad mortgage loans, which is what got us in this mess. Now Obama wants to force those same banks to "adjust" the loans to make them more affordable to those that shouldn't own homes to begin with. I plead with all Democrats and Republicans, to look at each policy on its own merit and determine if it is fair regardless of who is pushing it. Stop being afraid to question your party. Obama may own the media, but he shouldn't own you!

The word greed has been thrown around a lot lately, but I don't think the people attacking with the word greed are really thinking about what they are saying. Were people that took on mortgages they knew they were not going to be able to pay not being greedy? And how exactly is a mortgage company predatory for loaning out money they knew they weren't going to get paid back for? It makes no sense! They were strong armed by congressmen like Chriss Dodd and Barney Frank to write mortgages to lower income people or face fines and public accusations of racism.

After chiding the President for "talking down the economy", all I've seen day and night on CNN for the past 2 weeks is the hosts of your various segments continually talk down the economy and attempt to scare the american people by continually sticking microphones into any naysaying, negative, right wing republican they can find. I know you're doing it to advance your own media narratives and attempt to create the news as opposed to report it. Your tag line shouldn't be "we report, you decide". Your job is to report the TRUTH, and then let me decide. Not to trot people out to argue something that you yourself know is wrong. If I said the sky was blue, does that mean you have to bring someone on to counter and say the sky is green? Gimme a break .

Today, it's not really about fairness, it is about survival and I want to survive financially and I want my country to survive. So, to those out there who have nothing better to do than to complain about everything this man is trying to do, I say go to Canada, or better yet, try China then you can really complain about fairness. Oh, no you can't, your not allowed to complain over there. Do you get the message?

I'm a staunch supporter of our President, but this plan IS unfair...but, unfortunately, it's necessary.

It is not hard to find sympathy for people losing their jobs because people in power got greedy and don't know how to plan for times of scarcity in addition to times of plenty. But here I am, making $70,000 a year and BARELY able to afford a house in the Los Angeles area. I waited because I knew the housing bubble had to burst one day. Now that it finally happened, the government wants to inflate prices again!!! Come on, let the market correct itself so those of us with who make smart, logical and prudent choices can get back in the game. Stepping in at this point is just going to push everything back to an unrealistic market that got us into this mess in the first place.

On Limbauh... what the DNC doesn't seem to understand is that we on the right (thinking people) love Rush Limbaugh. We aren't afraid of crossing him, we wholeheartedly agree with him and he speaks for us. This DNC plan is going to backfire big time as Obama loses support.

Now this is where the absurd hits the street, of course responsible homeowners say its unfair because they are paying for the irresponsible, UNTIL THEY LOOK AT THEIR PROPERTY VALUES!!! The mortgage bailout must be unfair to all to be fair to the irresponsible & the responsible. The President is merely attempting to compensate for the falling property values from failed mortgages and it will all equalize in quick time. Once the property values rebound the bailouts won't be necessary. Everyone please give the President a chance as he is dealing with an entire nation gone bad!!! Just check the comps in your neighborhoods to learn what the President knows!!!

Let's see some demographics. Break it down. Is it across all spectrums or disproportionate among certain segments?

I agree with those that feel the Mortgae plan in unfair. What about the ones that have been paying on time and have lost household income due a death in the family.

Many of you need to read Gene's comment (one of the first), because you're obviously not getting it.

This plan is not about what's fair or who should or shouldn't be helped. It's about keeping the whole system from collapsing and it's an essential part of the overall plan to keep the economy from going under completely.

I agree that many of these people should not have bought homes in the first place, but it's not right to place all of the blame on them. The banks and mortgage companies created these loans that made it easy for people to buy houses they couldn't afford, and then told those people that they could. They did so without risk to themselves because they knew that they were selling the mortgages to be combined into bigger and bigger packages. They did so knowing that many of their customers would not be able to pay the balloon payments, but that they personally would not suffer the loss.

I would say screw the banks and let them fail, except the money they lose would not be their own, it would be their depositors and the FDIC's.

If you're not part of the solution, you're part of the problem.

For those who have paid their bills on time and are complaining about footing the bill for those that didn't:

Homeowners and non-homeowners are ALL losing their jobs. Renters are being evicted because of homeowners losing their homes. Place the blame wherever you choose but, if nothing is done then your precious home will be worth nothing.

Granted, their will always be someone who skates by on the backs of others. Society is not perfect and neither are we as people. We don't want to teach sex education but we want to criminalize abortion and refuse social services for those resulting children.

We use our homes as our personal ATMs and wonder why we're unable to pay our bills any longer.

"WHATEVER YOU DID UNTO ONE OF THE LEAST, YOU DID UNTO ME"

I hope none of you complainers EVER need help of any kind from anyone. You may find someone refusing you citing "fairness".

some of you people crying 'no fair'...you are such pieces of crap! Stop complaining and be ready to fix this mess.

I pay my mortgage on time, have never missed a payment. This isn't helping me one bit. But it's needed.

Shut up and cry me a river you worthless whiners! YOU and your kind, RUINED america...now people like me, who don't sit there and throw a tantrum everytime a cow farts have to fix it! STFU you 'just say no' freaks of retardation!

Louis...you don't know that. Some people are losing their homes b/c they've been laid off!
I'm sick of these people being portrayed as dead-beats by knee-jerk Neo Cons...

I'm sure a lot of people have paid their bills on time until an unexpected crisis comes. I can't stand people who think nothing can happen to them or their love ones. Keep living and when your job gets eliminated and you can't pay, remember what you said. What guarantee in life do you have that says you will be forever healthy, never get a divorce, love one 's with a terminal illiness. You don't know what is in front of you in life. Quit being so judgemental. If you can pay your bills, thank God for it and shut up!

This isn't about special treatment, this is about stopping the spiral. How fair is it for your home value to continue to spiral because banks were too stupid to lend this money. The borrowers were lied to by mortgage brokers, taken advantage of because they wish to have a better life. It was the banks who should have demanded collateral and proof of income.
Obama is trying to stop the madness, he didn't create it, he is not giving a hand out, he is trying to get banks to restructure rather than rob people.

So they were polled about a plan that they don't know the details of??? How exactly are you supposed to be able to give an honest opinion?

Thank you Obama!! I'm going out and getting $1,000,000 loan and defaulting on it. Now that i know I won't lose anything for doing something as stupid as that. Everyone's tax dollars will go to my new house, Ferrari and who knows, maybe a in-door pool.

Give me a break people!! I tired of hearing about your complaining!! I can't pay this, give me money for this. I can't afford this now, give me money for it. The hell with you all!! I pay my rent, I pay my bills and I don't expect a reward for doing it. Grow up, buck up and figure out your crap people. You got yourself into this mess, get yourself out of it. Don't take my freaken tax dollars to pay for your house, car, 15 kids. Give me a break!!

Pat people like yourself are the ones we have help. Good people going through a bad situation. To those who don't see the benefit of Obama or the banks helping homeowners in need, I hope nothing bad change in your life where you can't make your payments; like loosing your job, spouse dies, divorce, or work hours cut. If so are you going to lable yourself as a lazy good for nothing looking for a handout? Or you bought a home you could not afford?

This congress & President is driving our economy and country over the cliff, and CNN and the like are selling road maps ....... Your mom told told you, Anderson & Blitzer, don't forget your pom-pom's. In a few years ,once we have dismissed this President , you guys are gonna look really bad for enabling this dismantling of our county. I can only pray that our public will see the sham that you are. ( you = Anderson Cooper, Wolf, Ms Brown ). I am doin my part to expose you.

Fundamentally, it may be a unfair, but a case can be made that spending billions of tax payer dollars to bail out the mega banks is also unfair. The fact is, we have a crisis on our hands and that crisis is a direct result of the housing bubble. We could let these homeowners go under and lose their houses, but then the banks would be stuck with properties that are not worth the money they have in them. They would then take a huge loss, which would probably mean more bailouts. It's a catch 22 proposition for the U.S. economy.

DEAR POTUS, PLEASE REVIEW YOUR PLAN, I HAVE BEEN TURNED DOWN FOR YOUR PROGRAM BY WELLS FARGO,MY MORTGAGE (IN EXCELLENT STANDING) IS AT 35% OF MY GROSS, I TOOK A @10K PAYCUT AFTER BEING LAYED OFF., AND PUTTING MY DAUGHTER THROUGH NURSING COLLEGE ON A SINGLE BUDGET. BUT ALWAYS MAKE SURE I PAY MY MORTGAGE ON TIME....WHO ARE YOU HELPING IF NOT ME? I'M STRUGGLING NOT TO LOOSE MY HOUSE AND TO KEEP "MY DREAM' ALIVE, BUT SEEMS LIKE ALL HELP IS GOING SOMEWHERE ELSE.....BY THE WAY, CAN I PLEASE HAVE THE 30K LOST IN MY 401k, THAT SURLEY WOULD GET ME SPENDING AGAIN.....THANKS, COTUS...

The only surprising thing in all of this is that people are surprised. Weren't we all warned about Obama and socialism? What is the problem? this is what you wanted- Change- LOL

I know CNN won't post this! Change- LOL

When is the last time you said to yourself that life is fair?

Never? Thought so.

Unfair all the way around, the bankers, the car companies and now the people who don't pay or didn't REALLY qualify for a mortgage are all being taken care of...and those of us who have nothing more than to pay our bills and stay home because there is nothing left are just that....left out in the cold. And then how many times will they get rescued...there seems to be no limit for the banks and car companies. What because it is for the "good " of all of us...until we are in a total depression. Are we (who pay our mortgages) going to be wishing we would of stashed away our mortgage $ instead of paying because then at least we would have something. Looks really bleak from this end, am I giving up cash I am going to wish I had a few months down the road? And I have nothing left to pay for this horrible debt that is being created...and guess who they will come to.

Hey Idaho Guy,

people paying their mortgage do get huge tax rebates, its called mortgage interest deduction. When your property taxes go up and your home value drops because several homes down the street have gone in foreclosure, don't compalin.

Its quite clear that if these people saying this is not fair, would not say this if they was in the situation of loosing their jobs, loosing their houses and whatever else this credit crunch has brought on the world.
I know the word solidarity might not be so cool anymore, but people lets realize, to get out of this situation we all have to help eachother out. Its the same with paying for taxes that for example here in Europe might be abit higher than in the US, its to make sure that if one of us goes to hospital, loose the job or anything that could happen to any of us, no one is immune to this, then all of us has the same treatment and chance to get back on track again.

We need to become less greedy to get out of this situation, and hopefully learn from history this time, but with that I am sceptic, human kind is born greedy, the more we get the more we want.

claes, sweden

Maybe before they give someone mortgage refinancing, they better check on why they are behind. Is Obama going to appoint someone to do this? If not, those that just don't care will receive just as much as those that are on hard times right now. What about when rent keeps going up and up because landlords want to make enough to stay ahead. Where's the help for those that rent? My tax money will be going for someone's mortgage. Will someone elses money be going to help me pay the huge rent increases. I don't think so and I don't expect Obama to come through on it anytime in the future.

"I don't allow my child to complain about something being "unfair". We have to fix this problem or our home values will keep dropping. There are so many things in life that aren't "fair". So, people need to stop acting like little kids…No fair…What about me…My turn….Wah…"

–Thank you!

Hey, Dave! Guess who has been in charge of the economy for EIGHT YEARS now! Hint: It wasn't President Obama!

I don't think this plan is a blank check to people. It's enabling banks to give some limited, needed lower rates so folks can PAY their mortgages, and keep their homes, and all our investments. This is not free money, it will be paid back. Rush has everyone convinced that Obama is Satan and out to ruin America. Guess what? Bush already did that-have you read the spy memos? The torture memos? The memos that he thought gave him carte blanche to arrest American citizens? And Rush thinks Obama is changing America? Yup, he is, back to what we are supposed to care about–people and the Constitution.

My house is upside down $200,000 four houses next to me have been abandoned. If this plan does not go in effect soon there will be no home in the U.S. that will not be affected one way or the other. I have lost enough. The price of my house, my 401-K., etc. I think we need to realize that this affects everyone whether or not you are paying on time. If the houses continue to plumet all of America would have lost. Thank you President Obama for looking after us. We are not children, we are adults, citizens of this country looking to put our country back in order.

It is easy... the plan will be in place for 3 years... so just go to foreclousure !

President Obama is not a socialist. I've never seen him at the meetings.

How could we taxpayers not be delighted with the opportunity to help those who overpaid for a home and for those who refi'd so they could buy the new Lexus and pay off the credit cards which they ran up shop-shop-shopping. Given that we taxpayers are going to bail out, er, I mean, aid those consumers, we as a society are justly giving those folks another opportunity to spend-spend-spend, which is of course not just what our economy, but our entire reason for being, is based on. So, you go, boys and girls!

Sky...

Your version of the "Fix" is the exact problem. Capitalism by itself will never work because people are always subdued by greed. Just like Socialism or communism by itself will never work because there will always be greed in the equation and someone in power will always be seduced by the opportunity to come up on everyone else. That's why we need multiple systems.. like Capitalism and Socialism to balance each other and support each other.. because individuals never will.

Unfortunately, we live in the real world, not the world as it should be.

I disagree with the polls. The mortgage crisis needs to be addressed since it's the root cause of our economic problem. I'm terrible to hear Americans struggle and end up homeless because of being unable to pay for their American dream. Hopefully these banks will jump on board and start helping the common folks.

Evidently, plenty of you guys have not read the mortgage modification program. There IS a clause for people who have paid their mortgages on time each month. If the mortgage payment is more than 38% of monthly income, the borrower has proof of income and lives in the home, the borrower can apply for a reduced rate, not to be lower than 2%. I have never been late on my pmt, but since my income depends on people signing up for extracurricular activities, I AM APPLYING for this reduction.

It apperes some people have for gotten the welfare of women and children on this mortgage bailout. Remember each and every one of us were a child at one time and what it would do to them if your parent lost there house.

I am totally shocked by the attitude of some of the people on here. I love how the right is the party of Christianity and "moral values", but they become so un-Christianlike when it comes to helping others who have fallen on bad times. It reflects badly on you as human beings. It's not like most of these people just decided one day to steal from fellow taxpayers. They got in over their heads, and need help, not condemnation, Thank goodness the Democrats are doing something to fix this mess.

We Americans have become so selfish its unbelievable ( even though we are a so called christian nation); Bush scared us about Saddaam and we spent all our money in Iraq and Afghanistan willingly even castigating those who opposed the war. Now here we are complaining about helping our neighbours!!!! Wow common sence truly isnt common; hypocrisy has become the norm. Thanks Mr. President for doing your job which is helping ALL americans!

Just in general philosophy and mindset, our nation is off course. And these types of policies just drive us further off the map.

THINK about it. People who can't pay their mortgage (and probably never could) are going to get help. This will keep them afloat for six, maybe eight months. Then what? When do we cut our losses?

some of you people crying 'no fair'...you are such pieces of crap! Stop complaining and be ready to fix this mess.

I pay my mortgage on time, have never missed a payment. This isn't helping me one bit. But it's needed. Shut up and cry me a river you worthless whiners!

Kevin in Ohio

You could be only a paycheck away from being behind in your payments and on your way to live on the streets, you need to be careful what you say. Wow you haters are so pathetic

If they really wanted to stimulate the economy, they should have a 3 month moratorium on mortgages. For 3 months (April, May, and June) no mortgages are collected, and those three months are added to the end of the mortgage. This will put money in everyone's pockets, and they will spend the savings.

Would like to hear the pluses and minuses to this suggestion.

A lib-Democrat supporting fairness and equality is like an Al Queda terrorist supporting pacifism.

Libs wish to punish those who work hard and play fair, people who do the right thing, are honest, and have morals and values.

I don't need to ask again what type of person you are if you support them, evil or ignorant is obviously the only options.

For those of you who are saying read the plan – go stuff it !! I just got off the phone with my bank. There's no help for me. The problem is, I worked my butt off, I saved for a down payment and I make my payments on time. I bought my home 3 years ago for 250k. Other homes in my area are selling for less than a 100k. Am I the bad guy here ? I have a neighbor who bought their house for 300K. But, they had no business buying a house and couldn't even afford their initial payments. Yet, they are getting help. What the hell is that ? You people call that Republican Spin ? That is real Freaking life. Screw the good guys to take care of the lazy ?? This is sickening....

Well, it's like the parable of the vinyard: those who came early may have worked a bit longer than those who came late, but in the end, those who came early got to go home sooner because of the latecomers, and in the end everybody was blessed and nobody was unjustly enriched.

I am continually appalled at the basic ignorance of the public.
Read the dam plan!
And realize that most of these people who need help are not deadbeats. They are people like me, a small biz owner, who got trapped in a failing economy, reduced sales and income and there was no way out.
I've already had to sell my home of 15 years for a reduced amount, walk away with nothing and am busy trying to save my little business. The plan won't help me....it comes too late thanks to the Republicans, but maybe it will help someone else.

Yeah and bailing out the banks and AIG wasn't fair either. But, unfortunately because of the situation we're left in by the previous regime it's going to have to be done. I for one don't want to see more foreclosure signs around my house and the subsequent further drop in my own homes value.

Like all of these plans/programs we need to give it a chance. Unless you're one of the Rushies that want this country to fail so no one would remember you caused it!

Special treatment? Why not? It's about time the taxpayer got special treatment. Please, use my tax money to help those who are struggling, not banks and corporations. Banks and corporations deserve to go down and so do their ceo's and some upper echelon employees. We've had a corrupt business model touted as the ideal for too long, and it's time to end worshiping the unethical.
Average people get into trouble for all kinds of reasons. Who can say they've lived a flawless life? I'm happy to bail out my neighbor. I'm not happy to bail out AIG and Wells Fargo.

If taxpayers are paying for deadbeats to keep their homes, then there is less money for those same taxpayers to buy homes for themselves. This will lower the price of housing because of decreased demand.

If home prices lower for a while because people lose their houses, people who actually pay their mortgages will buy the cheaper houses, and then demand will go up more because we are not paying the mortgages for deadbeats out of our tax money.

The bigger theme here is wealth redistribution, anyway. This is just a part of it.

The government should not be in the business of buying people houses. It sucks that these peoples' investments didn't pan out, but that ulitimately is their problem. Would they being give the government their profits if their house went up in value? Will they return the profits when this action by the government artificially inflates housing costs again? I don't think so. The idea that the government is going to bail people out of mortgages for property up to $700K is ridiculous! Those who realized that what was going on in the housing market was destined for failure are getting screwed 2x, once when they bail out those who can't affort their homes, and a second time when housing prices get inflated again because of the bail out.

As long as speculators aren't helped, I'm good with the plan.
Now, if I could just get someone to buy my house at a fair price...I'm praying.

You have to remember that if you're not getting any money and your neighbor is getting their rate reduced to stay in their home and not go into forclosure, then, your home value won't drop more then it already has. If we don't stem forclosures then all of us home owners are going to lose even more value on our homes. We have to help the less fortunate so they can help us.

Whether fair or unfair, it is clear that most people support the plan because it will stablize the housing market. If you are paying your mortgage and have a job, thank your luck stars, but, understand that if dozens of houses in your neighborhood are or will go into foreclosure, your housing value will decline. BTW, wasn't it McCain who was urging the govt. to buy up all the mortgages where homeowners were upsidedown? This plan is way better than that.

I was going to write that check to my mortgage company today, but I guess I won't bother. Why should I? There's no apparent downside–all you tax-paying suckers out there will take care of it for me.

Talk about unfair whole day long: Social security, Medicaid, Medicare, bailouts, disability payments, frivolous law suits, War expenses, homeland security, illegal immigration, immigration policy on legal residents, educational expenses, Foreign policy, Tax cuts, car insurance, health insurance, 401K, energy prices, price grouch CEO payments and their lavish parties etc. the list goes on. If you are wise you know, the government does not work for good people. It only works for people who does not respect or deserve it. People who take lot of help from it, will say it is not enough. People who work for it, will say, it does not work for them. I learnt when I was 5 years old. When I was driving a bullock cart, I was taught to hit not the bad one which is not pulling the cart, hit always the good one to steer the cart well. Government runs the same way folks. Are you good or bad? If you can tell that, you got the answer.

Well I hope all you idiots that voted for Obailya are happy. Take yesterday for instance. 60 jobs were created, but we lost 700,000. were only down 699,940 jobs! As for rewarding all the leaches of society for not living within a budget and buying houses that they don't belong in in the first place is ridiculous. Alot of these people got their buddy bankers to give them loans for houses. I've paid my bills(by myself) and live within a budget. Now you (Obailya) want to renogotiate these loans so these people can stay in their houses (that they couldn't and still can't afford). Just give everyone in this country $10,000 which will stimulate the economy much better than bailing out these banks and the crooks that work for them. That way you are rewarding the people who live responsibly not just the leaches.

To make the Program fair, for everyone, anyone who is willing and able should be able to take advantage of the lower interest rates
Its a fact that we are all upside down, but the ability to take advantage of lower rates would be a great thing for all.
Lenders can do rate modifications for all of those who have been paying on time.

A bailout for those that have been paying? Doesn't sound like they need a bail out!

"took a adjustable rate or balloon loan and didn't realize it" – JUST PLAIN STUPID! read what you sign, think a little

more forclosures don't cause more forclosures, they are caused by nonpayment. at some point those with money, and there are still quite a few of these people (they just don't bleat on about it), will enter the market and start buying the houses.

a lot of this is just spending and won't fix anything. If you still have a job and make your house payments on time, you may be able to refinance, unless you have so much debt you don't qualify anyway! And as a lender, if the government comes along and "encourages" (forces) me to change the loans and kills the profit in the deals I have remaining, It will be a cold day in you know where before I start loaning money again. No one is talking about how this will change lending practices in the future, but its high time someone did.

The plan is intended to stop home price depreciation. Without that, nothing can be done for anyone's mortgage, the banking system cannot stableize, bank lending cannot resume, and the economy cannot recover, and the stock market (your 401ks) will remain at low levels.

When home prices fall and foreclosues go up property taxes increase, because the tax base shrinks, but not government services (Police, schools, etc).

OK, yes, if you lost your job and were paying your mortgage on time prior to that, please help them. HOWEVER, I have seen the plan in ACTION and let me tell you, the person i know that got help only showed that their mortgage was paid up because they called a few months in a row and had it deferred to the end of their loan because they couldn't afford it for a few months NOT because they lost their jobs but because they bought a NEW tanning bed for $5000, new couch for $1200, new washer & dryer.....collectors are calling her at work and she entered a debt consolidation plan...OH, but her mortgage (currently at over 10% interest) is paid in full because it was "adjusted" Now she's getting a NEW mortgage at less than 5% interest while I have 800 credit score, never missed a payment can't refi for anything better. Explain this to me?

Life isn't fair. Those of us who are still employed and able to pay our bills should be grateful for this help to others, as it will spur the recovery and help all our home values get back to where they were. Be grateful for what you have, and let's stop bickering over help to those who need it. I have several siblings unemployed and needing this help. I am grateful!

Those who oppose this bill and Obama's iniative's really need to ask themselves if they believe that "you are your brother's keeper". It has always struck me as odd that so-called Christian conservatives fail to support policies that help out their fellow man. This policy is not only good because it helps out people in need (although admittedly some who don't deserve help will benefit) but it helps the whole to stop the bleeding in the housing market, as well as stabilizing prices by preventing foreclosures. Its time we realize that we are all in this together, all Americans.

This weekend Shila Blair FDIC chairman stated to public radio, it would simply impractible to review old mortage applications and try to distingush between honest and dishonest borrows. This is sick. So Obama doesn't care if people lied to get a loan they couldn't afford. Also I have see nothing in the proposal that attempts to screen out people who took equity out of their home to buy a new car or plasma tv. The worst part of this disgusting proposal is the it allows judges to throw out contract law and rewrite mortgages. If you want a mortgage in the future and the bank knows its contract is worthless you are less lilely to get a loan and if you do it will cost more because now the bank has more risk. Thanks Obama for making our lives worse going forward so loan liars can keep their homes.

I'll never understand, ever, ever, ever, how someone can call themselves a 'dittohead'.

I was raised to value free thought, to question authority, and always keep my mind limber by throwing out bad ideas when they come along and accepting new ones that make more sense.

A dittohead seems to be the antithesis of this.

I would like to hear from a Limbaugh fan, a self-professed dittohead, WHY you like this title, and WHY you would apply it to yourselves.

As far as I'm concerned,
dittohead = wears a dunce cap

I guess should have re-financed and blown the money on plasma TVs and vacations. And kept paying for cell phones, cable, booze, vacations, 6-embryo implants, LASIK, etc and SKIP the mortgage payment.

THEN I CAN GET BAILED OUT LIKE THE OTHER LOOSERS!

I'm clinging to my guns and religion right now.

AMMO UPbefore it's too late!

I'd draw a distinction between people who bought reasonable homes, played by the rules, and got laid off from those who bought homes on speculation or never should have qualified in the first place. the former deserve help. The later deserve to sink in their own mess.

@Democrat turrned republican:

What you got is equity in your home – Stupid!

The greedy bone-heads who are against Obama's mortgage plan because they've managed to keep their jobs and pay their mortgages, don't realize that if a home on their block is foreclosed on it could lower their own property's value by at least 7%. If two homes within an 8 block radius are foreclosed on, it gets even worse. So the next time you start whining about Obama's mortgage plan, consider its peripheral benefits and how it will help to preserve the value of your own investment.

As much as I feel for those who, legitimately, found themselves behind the proverbial 8-ball with their mortgages, I find it unB-lievable that these same people will be any better off under the plan currently being implemented. You will still see a large percentage defaulting on their loans.

If they have no money, lowering their payments means absolutely nothing. They still will have nothing to pay towards the loan.

If I, as a current mortgage holder making regular payments (plus a little 'pay down' cash,) were to refinance to a lower rate, could I get the same rates as are being offered to the people being 'helped' by this plan? No. Would I be able to refinance with out closing costs, point, etc.? No. I would love to refinance my 30-year 7% loan to a 15-year at 4% – 4.5% with no other costs, but do you think the banks will touch me? Not a chance.

MY HOUSE IS PAID FOR – BUT WITH REAL ESTATE TAX & INSURANCE
I NEED HELP – I AM 83 YRS OLD AND STILL TRY TO WORK- AND BY THE WAY – MY CAR IS 20 YRS OLD – WE NEVER HAD A NEW CAR.

"Americans don't like to see other people get special treatment, particularly when it comes to money, but they don't like to see others suffer either,"

Hell no!! Is mine, I tell you, mine!! My money...and as for the suffering...well, it depends, just as long is funny, you know? LOL!!

I financed a house that I could afford. I did my research, and planned carefully. I knew who to trust, and thought for myself.

What's the big deal?

Quick, we need to know what Rush Limbozo thinks about this!!!

ON MY GOD! Let it go people! I pay my bills and I'm single and my taxes will be higher than most! All these people didn't purchase homes that they couldn't afford! Many people got adjustable rate loans and with the fallout they have added 1,000 to many monthly payments. DO I whine? Nope because I have lost thousands in stock? Nope! One day I will have a situation where it may spin out of control and I hope I get one small break! For those who whine about there perfection and that they have no flaws,as of yet ,get over it! Without this bailout it will affect even you-oh my!

Jee – you are a sad person. What have you done today to help a fellow citizen? I am an elementary school teacher who is expected to do more with less (almost @ poverty level). I'm working to change lives. What are you doing to help America?

I don't allow my child to complain about something being "unfair". We have to fix this problem or our home values will keep dropping. There are so many things in life that aren't "fair". So, people need to stop acting like little kids...No fair...What about me...My turn....Wah...

It's not fair that we're in this situation.
It's not right that we're in this situation.

This situation was a long time coming. Lots of us out here in the real world saw it coming but the folks in Washington either ignored it or did nothing about it. Now there's a new administration forced to put a bandaid on a bullet wound to try to stop the bleeding. Hopefully, the bandaid will be big enough and last long enough for the economy to recover quickly.

It's not fair, and it's not right, but now we've got to do something to fix it. If the bailout plan works, that's great. I don't like that we're having to do bailouts, but if Washington had done something as little as 2 years ago, we wouldn't be in the mess we're in now.

I love the lesson that our President and Congress are teaching us. Go out and purchase a house you can't afford, make bad investments, act irresponsible and don't pay your bills as Uncle Sam will be there to bail you out with the hard working responsible taxpayers money.

They are finally addressing the root cause of this weak economy with this program and the market has responded. Who would have thought!? Duh!

I'm not a fan of the bail out .... but, how does it help me when my neighbors are losing their house and mind is dropping along with theirs. It suck, but at least my house will stop been in a free fall.

I had to pay my mortgage and on time or my house would be taken away from us. And now I have to pay for others stupid mistakes that should have never happened in the first place but that is the dumb democrat way take from the rich and give to the poor and then wonder why they are so hated. I didn't tell clinton to let freddie and fannie to put people in homes that they couldn't afford then take away my rights to get there socialism on the road to destroy the american way and I hope and pray that we as americans will stand up and fight this bull crap. It will take a war to stop these ignorant people and it will happen it will look like a third world country pretty soon.

GOD BLESS THE OLD AMERICA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
cause it is changing for the worse

To Andrew: whao care what you say when it is so negative all the time go get a job, or go to a food bank and hand out fodd or do something to help someone else for a change. Stop bad mouthing the President.
One day you just may need yourself for real be careful what you ask for. not everyone is stuck on stupid.
May you never need Sir. You are so sad.
Get a life this is so sad how you and others are always starting negative trouble. The world is moving on shut up get on broad or get off the train, because it's left the station, like since Nov 4th 2008, get over it.
Obama/Biden and the Dems for the next eight years OK.

Well, we all thought the free market was fair...giving people who could never afford a home a loan...we took full advantage of it and this is the price we pay. Period.

to bad cnn relys on tabiold style reporting wonder whats going to happen when people get tired of misleading garabge head lines
for rating points. very sad . and choose to watch something diff.
try pbs (public broadcast system )

This is good old American greed talking. "Hey, what's in it for me?" It's exactly the kind of mindset that got us into this friggin' mess.

I believe Obama is trying to destroy the American People by taking retribution for all those “slaves” that his own people sold into slavery.
Make all the non workers rich by taking from the hard working people of this country.

I am sad for this country if we can’t stop his aggressive run toward socialism. He got elected because he could give good speeches. So did Hitler.

And, NOOOOOOOOOOO I do not trust government anymore.
Our elected officials (most–not all) have forgotten more than the average person in America knows—how to earn a living. They should all go back to work after 4 yrs and remind themselves what it is to earn a living.l

By the way all of you that believe in Global warming…reserach that subject as well…you will be surprised…its not true! Have you noticed that all the people (Gore, Clinton, Pelosi, Reid etc…) have yet to debate this subject in public and meet behind closed doors to discuss their agenda…why..because a vast majority of the scientist (even those that had received grants from the government) have stated its a hoax. Also look at their investments…they are vested in green energy companies and its to their interest to get America to go in that direction….why you say….they will then become the NEW RICH of the USA at our expense….and what will you have to show for it….free healthcare?

I point out that this poll consistently obtained negative results against Obama during the elections. They were also consistently out of line with most other polls.

I think the government should provide housing for all Americans. Food too. Come to think of it, when the government gets Detroit back in order I'd like a car as well. I like pets and it wouldn't be fair if I couldn't have one because I couldn't afford it. So I'll need a government supplied pet and pet food and veterinary care as well. The National Endowment for the Arts is getting a few billion, but I think they need more. Let's make it a few trillion so I can have a government provided sculpture on my government provided lawn. In return, I'll work for one of the new bureaucracies filing paperwork. That or I'll maintain the printing presses that keep this whole system afloat.

THINK PEOPLE, THINK: When do the bailouts end? Hard-working, responible Americans who scrimped and saved and are paying their mortgages on time now get to help pay the mortgages of some people who never saved, bought big screen TV's and took vacations on their credit cards.

To those who feel like the majority of the people getting help are dead beats, you are wrong. I work in banking. I am helping people in regards to the bailout and the majority of folk we are helping have either been laid-off and had to take a less paying job or health problems got them in this situation. Those who can not afford their homes are offered other solutions to move out of the property like short sales. So there is balance to this process. To those who think different stop listening to talk radio and FOX news. No one is recieving help who does not deserve it, we go through financial information, property value, and all. This is not a handout process at. There are many good people, who had bad situation happen to them. recieving help and I am happy for it.

For all of you that complain about people being helped with their mortages 9 please do me a favor) SHUT UP. people have lost their jobs. He is not rewarding Bad behavior, if you have made all your pymts on time and need to refiance to lower rate SHUT UP and DO IT. You either want this country to get back on track or you don't.
And STong you are just plain stupid-- people have lost their jobs and have to settle for lower wages. If you had you house for 10 years and lost your job SHOULD you LOOSE YOUR HOME??????
People We are our BROTHERS KEEPERS – Let's UNITE AGAIN LIKE WE DID ON JAN 20th.

Have you paid your morgage yet? Mr Obama.

Alot of people miscalculated and they're dragging us all down. Until people begin to feel the consequences of their bad choices this cycle wil continue as they will never learn or change. I'm all for helping my fellow Man, but enough is enough. Sooner or later we Americans are going to collectively have to regain our resilience, not just the folks at the bottom end who got into their "Starter Castles" then couldn't make payments, but to include the Wall Street Fat Cats and imperial CEO's who expect to get paid for failure.

I'm with Denver Mom, we need to reward the people who paid on time and stayed with in their means with major tax breaks. And just to be clear, there is no such thing as a "predatory loan". You are responsible for yourself people!!! If you got a loan that you can no longer afford, that's your fault, not mine and the government.

What I really love is the fact that someone like me who didn't buy a house 5 years ago because I knew I couldn't really afford what was being offered, is now going to be on the hook to help pay for all of those homes that were bought/sold irresponsibly... Makes me wonder why I made the responsible decision...

PLEASE STOP AND THINK WHY WE ALL IS IN THIS MESS!!
PEOPLE BEING SELFISH AND GREEDY!!!!
TAKE 10 SECONDS OUT OF YOUR TIME AND THINK WHY ARE THESE PEOPLE IN THE SITUATUION THEIR IN. PEOPLE ARE NOT LOSING THEIR HOMES BY NOT JUST PAYING THEIR MORTAGES. PLEASE LOOK AT THE WHOLE PICTURE AND NOT JUST BITS AND PIECES. THE UNEMPLOYMENT RATE IS AT THE HIGHEST IT HAS EVER BEEN IN THE LAST 50 YEARS. WITH NO JOB, HOW CAN A PERSON PAY THEIR MORTAGE. THE FINANCE COMPANIES PULLED A WOOL SHEET ON ALL OF CONSUMERS HEADS. BY CONVINCING THEM THE ADJUSTABLE RATE IS RIGHT FOR THEM, KNOWING THEY WILL CATCH HELL AND HIGH WATER TRING TO RE-FINANCE. STOP AND THINK, IT'S PAY BACK FOR THE BANKS, THAT'S WHY THEY ARE IN THE MESS THEY ARE IN. IF YOU OWN YOUR OWN HOME, YOU SHOULD BE RELEIVED SOMETHING IS BEING DONE TO KEEP YOUR HOME VALUE UP. THE WHOLE PICTURE SHOWS THIS IS HELPING ALL HOME OWNERS. KEEP PAYING YOUR MORTAGE, IF YOU ARE BLESSED TO DO SO, AND IF NOT IT'S ABOUT TIME– HELP IS ON THE WAY!!!

Here is the fix...the fix that will solve everything....make it against the law to take advantage of someone else. There is a way to suceed and make money without taking advantage or cheating. What happened with the vast majority of people who are facing forclosure right now is that they were taken advantage of by someone who was greedy and whose goal it was to get as much as possible from whomever they could without regard for right or wrong.....greed.....capitalism works when people dont give in to greed. do unto others and all of that......people get mad because this plan helps people keep their homes.....they are mad because their greedy plans dont work anymore....because Obama is leveling the playing field. But if these greedy people would take a step back for a moment they would realize that they can still make money...they can still suceed. Sucess is not contingent on how many people you can screwover. you can be sucessful and a good person also. Every mans death diminishes me....right....as does every mans misfortune. When one man/woman/company fails....we all feel it. It reflects on all of us.....if you people who are upset that Obama is helping these people out....take a look at yourselves and see if greed is your motive.

The problem is that a lot of these folks did everything right, but unfortunately because of the bad economy they risk loosing their homes. I don't like bailing out lazy people either, but if we have to do that so the people who are just innocent victims in this mess can keep a roof over their heads so be it.

Besides, keeping people in their homes will help the housing market. An improved housing market means an improved economy. And an improved economy benefits EVERYONE.

Just Keep HOPE!
live with hope
die with hope

of course it is unfair! All it will do is prolong the time someone is in a house before it is forclosed. Sure, reduce he principle, interest, and payment. – but how are you going to make sure the occupant chooses to pay the mortgage instead of spending it on cable, cell, car, cigarettes?

There are plenty of people out there ready to buy – get these losers out of their homes and put them on the market! use the $75b to subsidize NEW home loans. Or reduce the principle on MY house too!

Thank you Lori!

I've been trying to beat that point home ever since the Repubs have been screaming "SOCIALISM"

Why is that "Conservatives" love to send money to help other countries rebuild after we spent all the money destroying them.. but to help our own people it's considered irresponsible.

Case in point... Obama's entire budget is only about 10% higher than Bush's.. with the majority going to all the projects every other candidate promised to the American people and didn't deliver. The Repubs had no problem with Bush spending a trillion dollars on destroying and rebuilding another country.. but they scream that investing money in ourselves is irresponsible?

Any smart business man knows that you need to invest money to make money. We may not see any immediate benefit from some of these investments.. but Obama is the only one with the guts to invest money in projects that will be feeding us long after he's gone.

So, we want cheaper gas, cheaper cars, cheaper food, cheaper airplane tickets, cheaper TV, cheaper movies, cheaper everything, but MORE EXPENSIVE HOUSES?

Let the housing market CRASH AND BURN. Then maybe people like me who actually know how to manage their money can afford one.

I think they shouldn't have bailed out any of the banks or companies either. They should of all been allowed to collapse. I am more mad at them being bailed out then homeowners. They got away with murder. They are the ones who put theirselves in the position they were in and deserved to go out of business instead of using taxpayers money to keep them afloat.

Buying a house is an investment that always involves risk. There is always risk that it could lose value for different reasons, just like the stock market. If Obama bails out the risky house investments, then he should extend the same for all mortgage homeowners. It sends a bad message if he does not. For the ones who still can't make payments, that is what bankruptsy is for.

"dittohead"<<<wow...people still actually call themselves that in public? rewarding bad behaviour huh...you mean like keeping your junkie ditto-god on air? must be alot of that going around then...GET OVER IT!!! YOU ARE OFFICIALLY OBSOLETE RELICS IN THIS COUNTRY NOW...NOBODY CARES WHAT YOU THINK ANYMORE!!

The plan DOES NOT reward bad behavior. This poll is the result of republican lies and media spin. You HAVE TO BE CURRENT on your mortgage and show that you CAN PAY going forward. Please people, read the plan. It may help you too!

That's not fair, what about poor people?

If you're current and can pay going forward, you don't need the program.

There was a time during the break – up of my marriage that I was so behind in my payments I was sure that I would lose my home. I sked for help and was given an opportunity to re-finance and get my payments back on track. If someone had not been willing to help me during hards times I would be one of these people that you feel is being unfairly compensated thru this process. As the person stated on this blog. You may be able to pay your mortgage now but what happensd if you lose a spouse, a job or get sick and fall behind. Would you want to lose your home. The problem with everyone today is people are so selfish. If you are still luckey enough to be one of the ones have you forgotten that "WE ARE OUR BROTHERS KEEPER".
If we continue to be so selfish we are all going to perish.

Fairness is not the issue. Life isn't fair. If it works it will benefit us all and that is what is important. I have had both good and bad fortune in my 60 years. I got drafted for Vietnam, but I came home in one piece. I wasn't born rich or handsome, but I have been married to a wonderful woman for 38 years. I am not about to begrudge someone who needs it a helping hand.

Foreclosure signs on YOUR block affect YOUR home's value, period. If you are okay with YOUR home being worth less, then by all means, continue to whine about having to subsidize anything.

But recognize that it was the seller's market - buyer demand - that sent the value of YOUR home up over the past 10 years. Didn't hear ya'll complaining so much about mortgages then.

Talk about clueless!

The blowing of billions in taxpayer money continues. Only now the states and obama want you to help do their job in figuring out how to spend it.

If the money was really going to bost up the job market but this is only to payoff funders to obama.

now u tax more to buy stock,he kill mortgage deduction too ..

oh, oh, I hear Obama is turning Green ( not enviromental ) but MONEY green. I hear he is going to replace the beatiful cherry trees in Washington DC with trees that grow money on them. Now he can increase employment by hiring illigal Mexican immigrants to pick the money off these trees while giving them government benefits. I quess Americans will be sitting on the park benches looking at this happen.

its funny that whats fair and whats not fair seems to be an issue in the for front of american ideas. It never was before.

This is a "we" problem, not a "me" problem. It's okay to feel that's it's unfair, but what are the alternatives. Either we help stabilize the house industry or the American Taxpayer will have to come out of their pockets again at the state level when we pay for welfare to help the families diplaced by the mortage meltdown. Or our pocket books will suffer from declining property values when the house next to us forecloses. DON'T BE FOOLED BY REPUBLICAN IDEOLOGY!!! Their idea of "just let the market correct itself" has dire consequences. The America people have sat and tolerated obscene amount of tax breaks and set-asides for the rich, now, when it's time to help "joe-sixpack", we choose to voice or outrage. SHAMEFUL!!! We are getting what we deserve. If we would of stood up to these banks and hedge fund managers, we wouldn't be in this mess that Obama, in my view, is doing the best he can to clean up, while keeping his committment to the American people. This is a time to just hold your peace and see if it works.

Judy is wrong. I talked to my bank today, and they said this is only for people who are at risk of losing thier homes. The banks just want to help those people who can't pay, so they get more money down the road. People who lost thier jobs should be helped, the idiots who got loans they could not afford, should be out of luck, and out of handouts!

Giving my money to irresponsible banks was unfair and unwise. At least this way the money, which also will ultimately go to the banks, will be doing some good for someone. I don't see how else we are going to get this economy moving again!

What ever happen to love thy neighbor. I'm sure that their are many that bought homes with good intentions and just got caught up in the mess that was handed down. Go with the program it just might work for us all.

Giving my money to irresponsible banks was unfair and unwise. At least this way the money, which also will ultimately go to the banks, will be doing some good for someone. I don't see how else we are going to get this economy moving again!

I think Obama's plan is definitely unfair. I've always paid my mortgage on time and what do I get? Not a danm thing. I had enough sense to understand what I was getting when I signed the mortgage papers and knew I would stay in my house long enough for a fixed rate mortage to make the most sense for my situation. I provided honest information about my income, expenses, and job status.

Now people who either couldn't be bothered to educate themselves about the mortgage they were getting or who flat out lied about their income are being rewarded. Under no circumstances can Obama or anyone in his adminsration justify this as fair treatment for responsible consumers. And yes I know.....LIFE IS NOT FAIR!!. I guess this is what Obama would say to those of us who are paying their mortgages on time.

I think I definitely going to change my voter registration from Democrat to Republican. The way Obama's administration is willing to mistreat responsible consumers just to give handouts to the irresponsible consumers is just sickening and disgusting.

I know I did the right thing by voting for someone other than Obama. It's just too bad the rest of the country didn't wise up before election day.

CORRECT: DO NOT Penalize those of us who "Live by the Rules" and understand what we are getting in to when we apply and accept a mortgage contract. No ONE is GIVING us any thing. Their is no Inherent Right that we can own a home someday...we have to go out and EARN that right and privilege. Now let's see WHO, which party, started this ENTITLEMENT SOCIETY idea.??? I think I know, don't we.

Giving my money to irresponsible banks was unfair and unwise. At least this way the money, which also will ultimately go to the banks, will be doing some good for someone. I don't see how else we are going to get this economy moving again!

If mortgage holders are NOT helped down the road, those holding and paying on good mortgages may eventually be directly or indirectly affected by job losses as the economy falters. Those who have been paying on time still benefit by not losing a job even though it may appear that the stimulus plan is unfair. The snowball of a bad economy has to be reversed by an equal and opposite monetary stimulus plan, without which devastation could impact even those with good mortgage payment histories. Life is inherently unfair, thanks to Bush!

It may not seem fair but it is smart! Here is the logic that makes sense to me, my brother owns a home in Phoenix and houses all around him have been forclosed so he couldn't sell or rent his house if he tried. He has had his hours cut at work and worries about layoff because if he had to move to find work he would have no choice but to walk away from his house too regardless of the fact that he has faithfully paid his mortgage. Forclosure affects everyone whether it be directly or indirectly so any plan that will cut down on the number of forclosures can only be a good thing.

I think the problem is too many of us have listened to the ranting negative voices of the Rushlicans. Helping someone, who through no fault of their own is "underwater," not only benefits them ,but also the rest of us. It stops the home forcolsure decay that runis our neighborhoods and lessens our home values.
Because of homes sitting in my neighborhood and througout our city, my new home has lost %25 of its original value in just two years.

Secondly, I would think the "Religious Right" would encourage this since it gets a neighbor out of a ditch. Isn't that what their God ask them to do?

This is the big problem here. We pay on time and we have to sit and watch those that bit off more than they could chew get all this help. The same with the investment banks. They should have allowed them to fail. But it was all a scheme with our money anyway. They were ordered to enrich the bankers.

its funny that whats fair and whats not fair seems to be an issue in the for front of american ideas. It never was before.

people don't get it. sometimes you need to postpone the punishment of a bad behavior.
Not been able to pay your mortgage is not always consequence of affordability. In this economy, some have lost job as a result can't afford to pay. Let them down will not help the neighbor who thinks he has a secure job.
" When you are digging a hole for your enemy, don't make too deep for fear that you might fall in yourself".

Looks like republican morons no longer watch foxx news.

Some very nice people will lose their home and that is what's unfair. Why isn't government going after the faulty regulators and banks. Did anyone notice the document on "Greed" by MSNBC? Why not go after those brokers, bankers, investors who knew they were doing wrong but did nothing.

I am employed and able to pay my mortgage. For those like me, instead of throwing stones at the less fortunate maybe we should just feel really lucky.

Granted, it may be unfair but look at the whole pie not just one piece of it. Because of this mess everyone's property values have gone down and that's not fair either. With the forecloseure crisis combined with millions of job losses what other alternatives are there?

President Obama is looking at the bigger picture and what it will take to stabilize our economy and get our country back on its feet again. Let's give him the opportunity to prove that his vision and foresight will in time become a reality.

Meanwhile this situation should be a lesson for all.......live within your means.

Be patient America.

How quickly was this poll done? Details on the plan just came out this morning and people have already been polled on it? Did the poll ask how many people had read/understood the plan?

For those wondering the plan states you have to be current on your mortgage payments and cannot have missed payments. Therefore the plan does reward the responsible people and the irresponsible are out of luck. Please read and understand the plan before making ignorant comments.

I am a single parent with (2) jobs. I have a mortgage, car note, electric bill, etc. I pay my mortgage on time but, I haven't lost my job.

Both of my parents lost their jobs last year. If they weren't homeowners, there is no way they would be able to pay their mortgage, let alone any other bills, on time.

It is unfortunate that many people have lost their jobs in the recent months. With the loss of a job, not only do you suffer not paying your bills on time, but you loose your dignity; health benefits; pride; some loose each other.

Give Obama a break. Remember, he is inheriting some elses neglect to Americans.

Even though this plan favors irresponsibility, it is most definitely a necessity. I'd rather see the issue resolved than prolonged or worsened; if life were fair we wouldn't be in a recession and George W. Bush would not have been President for two consecutive terms.

I just want to see who this home plan actually benefits. I agree with Miss-take why don't they lower the interest rate for all homeowners and give all of us a break on our home payments. Just because we may make our mortgage payments on time doesnt mean we are not struggling to do so, we just know we have an obligation. The way Obama's plans are going, he is encouraging those who didn't work and have receive freebies to continue to do so. And i agree with what Citi Mortgage did for people who lost their jobs to reduce their payments to $500 a month for 3 months.

First, it is not just that people don't want to pay or bought too expensive a home, many have lost their jobs or have had a catastrophic illness. Hooray for those who pay all their bills, and I have been one of those, but I also know people who have lost their jobs, their homes and their dignity through no fault of their own. Second, if we don't help those who are facing foreclosure, the value of the homes we have been paying the bills on will devaluate greatly. It is so easy to be judgmental when you're not the one in trouble and I find many Americans rush to judgment and not just about finances.

No one with sub-prime or ARM mortgages should be helped. They gambled and lost and it is not up to the government or the taxpayers to bail them out. If I go to Las Vegas and lose $1,000 because I gambled, will the government give it back to me?

This is a slap in the face to every American who lives within their means. No government program to help should cost the taxpayers even $1.

This plan is not beneficial to the whole. It is only beneficial to fiscally irresponsible people!

The problem with this plan is we don't have enough information. How many of the people being "helped" are really in trouble with their mortgages because of a job loss or misrepresentation by a bank, and how many were investors looking to "flip" a property to make a quick buck. If we're bailing out investors, I'm against this program. Some reports indicate that is mostly the case in states like Florida. I'd like to see some good statistics before I make a judgement.

No doubt the Obama plan will benefit ACORN. He needs to pay them back for the election somehow. Only in American (New) is this type of behavior rewarded.

This article is totally irrelavant to today's announcement.. How stupid is CNN?!!. Is there no intelligent life in your Atlanta Headquarters? Obama just introduced the plan today, and CNN as usual is carrying water for the same corporate shills that got us in this mess. CNN is discraceful!!!!! This poll that you have mentioned doesn't even relate to today's Mortgages.

Everyone just needs to take straw and suck it up(try not to cget a brain freeze) Continue on paying your mortgage and hope for the best. It's a lose/lose situation either way you look at it. Which one of the "lose" scenario would you prefer???

I hate to sound so negative, and I could be off base here, but the majority of rulings when a democrat rules the house is to help the poor, and again I apologize for saying it, but also helping the stupid. Seriously, it's always about helping the people who don't want to help themselves, it's getting old. I'm not going to go broke to help deadbeats and idiots.

The plan is a terrible idea because it does nothing for all of us who have paid in a timely fashion. Lets face it, we don't care about everyone else only what is happening to us the individual. I don't care if the value of my home falls to -0- we should get the same help everyone else does. The money I could save on my mortgage could go toward other bills or to buy new things which will help the economy recover.

To quote my mother..."the world isn't fair". Get over it! I am fine with bailing out some people as long as my home value doesn't drop any further. Don't you get it...they are taking us all down with them right now!

Ok, so the majority of Americans are self richeous fools. Let the homeowners fail and these fools will be next. If they can't understand the viscous cycle we are in where there is no credit, people are losing their jobs due to no fault of their own then lose their homes, then this Nation is in trouble.

Everyone who are losing their homes didn't try to scam the system or do anything wrong. Hopefully these people who are so judgemental of others don't find themselves in the same predicament.

its the charactor of people..not the capacity to repay...the same people will again be in default in less than a year..

They should cut everybody's home loan down to 4% no extra charges from the bank. Talk about a stimulis package, a least a $200.00 in your pocket in a months times wow.

If this is a free market society, then the market should dictate all moves not just the upward moves. I look at it like this. If some one paid $80,000 for a Honda Civic and is now complaining that they can't make the payments, YOU are the the one that made the decision to make that purchase. Same with a house. If you overpaid, YOU made that decision. If you signed papers that you didn't understand, YOU made that choice to sign them with out all the info you needed. I bought a house in 2007 and the lender tried to talk me into a loan that gave me 40% more money than I wanted to borrow. I understood it would be to much and I stayed within my budget. Now people like me have to pay to help people like YOU.

the plan must be GOOD for main street!

now, you can take that analysis to your local non-profit credit union!

if my current mortgage holder, HSBC, doesn't give me a good refinance deal,

i WILL take it to local NON_PROFIT credit union of which i have been a member for a long time.

they have always treated me right.

We all should get something from this. I think it is unfair, I pay all my bills on time, but when you know others who are not and going to get a hand-out, well that stinks. All I would want is the chance to re-work my mortgage to lower the payment a little so my family could spend money on other things/save/invest/etc... come on mr president help us all out.

People just don't get it. Grave illness isn't fair either – but if you don't treat it, you die. It's that simple.

The mortgage situation affects not only EVERYONE (homeowner OR NOT) in the U.S., but MOST of the world's great economies as well.

Like it or not, we are all in this together and we will SINK or SWIM together.

Desperate times call for desperate measures. I don't like to see fiscal irresponsibility rewarded either, but I have FAR more tolerance for those who were trying to provide a home for their families and fell on hard times than I do for CROOKS like Bernie Madoff and the banks.

This was a situation created by GREED by the housing and financial centers, pure and simple. All those millionaires on Wall St weren't complaining when they were cashing those CHECKS a few years ago. They need to DEAL with it.

I am angry about those who will get bailed out but I am glad this is being done. I have lost over $500K – this will help me recover part of this loss. I don't care who gets the bailout except of course those bastards on Wall Street. A financial advisor is after me to make money – I am not even letting him into my house anymore. These advisors make money whether you gain or lose. Crazy world!! You go Obama – let Rushthug scream his arxeoff.

CNN needs to stop with the polls, they are NOT RIGHT!!. All you complainers about this plan need to shut the hell up. I have been able to maintain paying my mrtg but the value of my house is half of what we paid when building it 7 years ago. With this plan this could help the economy get a jump start, homes won't be sitting empy due to foreclosure and the value of my house will increase again. I get so sick and tired of all of you whinner, no matter what Pres Obama does, you stupid people who don't really listen or understand the plans start to whine, read people educate yourself before you start spreading all this misinformation.

Every home that sells below market value will have a negative impact on neighboring homes, it may not SEEM fair but if nothing is done and the market is allowed to simply self adjust - cash is king and the home owners will suffer from negative equity for sure, all while keeping their mortgages paid on time.

Sometimes when it seems like you're loosing you may really be winning, because those who keep their mortgages paid and weather this situation will more than likely preserve some if not most of their equity with the president's plan, otherwise their equity will be absorbed and then they will really be angry and minus a few bucks.

Gene – I would also hope you would agree that what is beneficial for all of us going forward – is telling those who cannot afford a mortgage that they won't get one.

I tend to agree with Gene, but I also agree with strong to some extent.

Yes it is unfair to us who work hard and pay our mortgages and were smart enough to not get suckered into the ballon mortgages in the first place. Shame on all those who sold those mortgages to those people and taking advatage of those not so well informed just to make a buck. That is greed in the first place. But as Gene points out, something has to be done to stabilize the market , both housing prices and credit market or we will all suffer.

This is wrong. I pay off all my bills on time, even the house bill. I have great credit. I also have a 6.8% intrest rate, and I called my bank today. They said they will only help people who got loans they could not afford. I think I might stop paying my bills on time, then I can get help.That seems like the only thing I can do to get attention

Forget about fair vs. unfair. This does not fix the problem, it just pushes it down the road. How many of these borrows are going to default on the new arrangement too? Then we are back to where we started and have put off the inevitable.

I admire Obama for setting a plan in motion. Now listen to the people they want it to be fair for all.
You can't promote bad behavior and expect everyone to just take it.
Extend the length of time to payback the loans and allow everyone the same opportunity to get the lower rate. Just because I can pay my house doesn't mean I wouldn't like to save more money and help jump start the economy.

How dare they blaspheme His Almighty Holiness!! Round up these sinners and send them to the re-education camps. We can't have people thinking now can we?

Maybe people should read the details of this stimuls before condemning it. It specifically says that people who are underwater, currently in forclosure, or not making their payments don't qualify. It's geared towards people making their payments on time but have lost the equity in their home.

I dont like the bail out. I think it make sense to find a way to transition people who are in homes in 400k mortgages to homes with 25Ok mortgages.

and re sell those more expensive home to people who can afford them. There should be no reward to those who borrowed too much. but we, as a nation can no afford to have entire towns disappear.

Just because I dont like it doesn't mean it is not what we need to do.

Why should I care if property values continue to plummet? I intend to live in my house for the next ten or fifteen years. I don't give a whit about short term value.

The plan DOES NOT reward bad behavior. This poll is the result of republican lies and media spin. You HAVE TO BE CURRENT on your mortgage and show that you CAN PAY going forward. Please people, read the plan. It may help you too!

Oh C'MOM people give it a rest, some of you are never happy, or agree with nothing that the New President does.
You can't please everyone Mr. President, so just keep up the good work that your doing to get this country working again, so, or should I say 90% of us agree with the way that you have been handling things. the other 10% is the haters, and nasayers or the Rubps, and Consev. who will never agree, that just say NO Bunch of fools, thats stuck on STUPID, and Money from their 401ks, and the stock market. Let them see how it feels to not have for a change, that's the new change that you speak of that they will see, that they claim they don't see from you.
LOL, this is so nice Work it mr President Obama, work the middle out to the left, and make your shot Sir again just you have been doing.
GOOD LUCK FOR THE NEXT EIGHT YEARS SIR.

It is UNFAIR and A BAD IDEA.

Those people who think it will lower property values may have a point in the short term, but at least we will be able to find the real bottom to this thing. Obama's plan creates an artificial floor that will cost more and more $$$ to maintain. It will be a disaster!

It is better to find out where the real bottom is and go from there. This plan is UNFAIR to everyone!

This plan is not about those "deadbeats down the street who bought a house they (clearly) couldn't afford"

This plan helps people who already do pay their mortgages, ON TIME. The catch is that their properties are now "underwater" as they have sunk into negative equity; that is, their mortgage is now worth more than their house. That and their rates have skyrocketed by no fault of their own.

The only thing these people have done wrong was to buy a home within the past decade.

If Obama would accept the Republican plan to suspend the payroll tax, then everyone would have an extra $100 per week. I would think that $400 per month extra to pay for mortgages would alleviate a large chunk of the problem.

Do you think that forcing foreclosures of your neighbors will help maintain your property values? Think again!!

Take it from the hard working living within there means people and give it to the I want it all now crowd. What else did you expect from the free hand out party?

If our tax dollars are going to help people with their mortgages fine....HOWEVER, it should NOT go to helping people who have have a second or third mortgage for investment purposes.

Any mortgages who are NOT the primary mortgage should NOT be covered with our tax dollars.

HUGE OBAMA SUPPORTER HERE!

But I think the way it is structured is unfair. We (the entire U.S.) couldn't afford it if all of the deadbeats foreclosed at once, so I appreciate that some intervention is necessary. However these jerks bought houses they KNEW they couldn't afford, with the idea they'd win the lottery or some such foolishness. They should have to pay every cent they owe, with the same interest rate I do, even if it takes them 50 years. That's all that should have been done.... extend the length of the mortgage, nothing else.

I'm sick and tired of being penalized for being responsible.

I'd like to see a poll that compares helping these Americans keep their homes vs. the hundreds of billions of dollars given to the financial institutions with zero oversight who have been caught numerous times squandering a lot of those taxpayer funds on large bonuses.......or, versus the billions of dollars being given to the automakers/auto unions that have given up only token absurd wages and benefits while so many lose their jobs because of labor excesses that cause our country not to be competitive in the world marketplace.

Stop whining. Refinance. I am doing just that. The whole situation has brought the interest rates very low and I am taking advantage of that and refinancing. It will save me about $300 on a $2000 mortgage payment. What's the problem?

socialism is the exactly description for this plan. It stinks. Those who spend within their mean get nothing. So being a good guys does not paid. So, try to be as bad as you can, you have a better chance to get away.

Fine, then don't help those struggling with their mortgages, and then the whiners that pay on-time and think the program is "unfair" can watch their home values plummet another 50%. I guess they think that is fair.

Use your brains people, stop being short-sighted and naive.

Welcome to the Obamatopia that you voted for. Enjoy!

Hmmm... What would I prefer spending my money on? Helping the Iraqis build and buy houses or helping my fellow Americans with their houses? Republicans say 'yes' to helping the Iraqi people with our tax dollars, the Democrats say 'yes' to helping fellow Americans. Who's patriotic now?

P.S. Read the article, Repubs. It says 57 percent agree with the plan. They may not like it but they agree with it.

Personally, I don't like or want to see ANYONE suffer. There's no reason for it in this great country of our's!

However, there is NO reason that the government should step in and 'save' people from their own stupidity! If you got an ARM loan, etc, or bought a home that you have no business being in, that is YOUR fault. Not the government, not the mortgage company – YOUR fault!

My wife and I got the ARM, took advantage of the lower interest rate for the start, and then re-financed before the interest rate changed. We took the time to know what we were signing. Were the mortgage companies a little shady in what they were doing back then? Heck Yes! However, it is time that our citizens took actual responsibility for our choices and actions.

Until that take place, no "messiah" or anyone else will be able to CHANGE things in this country!

@ srong
Deadbeats huh?
What about people who consistently paid their mortgages on time and then got laid off.
There are some people that played by rules (key word some), if you lost your job and benefits to boot due to this recession, I doubt you would be quick to judge.

Arguably, isn't charity of ANY kind unfair?

After all, people who lose their jobs and wind up on Food Stamps are getting food for free. Every other American has to go to work, earn their living, and buy their own food. From that perspective, people who chose their careers wisely, put away money for a rainy day, or found new employment quickly are getting a bum deal.

But, sometimes it's necessary - because the long-term social cost of doing nothing dwarfs the fairness consideration.

The sorry fact about this is that most people who have a lousy credit rating don't pay their bills or don't pay them on time. We'll bail thess knukleheads out and give them a lower rate and you know what – They'll be back in trouble again.

My wife and I should have been irresponsible years ago when we built our current house and we could have Sen Obama, Pelosi and Reid throw us some bucks. This is typical of democrats. It wouldn't surprise me if most of the folks in default are Democrats.

Obama strikes again. Redistribute the wealth and put in socialism. That's the far left for you.

The Steve has no spell-check.

People should be eligible for help, if they are on time with mortgage paymens because that proves they are responsible. For the Obama Administration, being responsible and honoring commitments is a major hallmark. It's just that simple.

I love to listen to the speed of CNN... So Slow...

Of course it is unfair to hard-working Americans who don't overindulge and who pay their bills on time! But what else can we expect from a Socialist president????????? This only serves to enable the irresponsible people to do it again...and again...and again. Don't worry, the responsible people still left in America will bail you out!

Well life it not fair and if you are one of the people who have managed to pay your mortgage on time even under hardship that you are truly blessed. Not everyone who is on the brink of losing their home get into a predatory loan. They simply took a balloon or adjustable loan like many of us do and had no idea it would balloon or adjust so greatly. President Obama can't make everyone happy, but what he can do is what he is doing and that is fine by me. Be thankful if you are not at risk of losing your home and stop complaining for Christ sake, it could be you next!

Unless I am mistaken, I was under the impression this program was only for those who have paid their mortgage on time and who now find themselves in a situation which puts them at risk for foreclosure, i.e. job loss, predatory ARM loans. Not for investors, not for those who bought more than they could afford. The rate of foreclosures needs to stop as we all lose.
Strong, lets hope you don't have a medical emergency, job loss, etc because you could find yourself in the same position as those who now face those situations.

This is how the Dems. operate. Save everyone especially those who dont deserve it. Why is this a surprise? All americans should default on their loans and cash in. Im sure lots of people will begin to do so. Why not now you have incentive.

Why don't we reward those that have been paying? Especially, since we also have to pay for everything else now via taxes.

the lenders that instituted the subprime stuff should be penalized, the laon rewritten as conventional, the subprime action is akin to usury

I know this is unfair to me, but more if this forclosure tsunami is not stopped, my home will be devalue even more and all this may boil to people who are paying on time loosing jobs.
This is not to help those people who screwed, this is to help economy and everyone.

Thank you, Gene, for being a sound voice of reason. Regardless of the indiscretions that led up to this debacle, allowing people to lose their homes when a viable option may exist is a foolhardy (and somewhat vindictive) move.

This is always the case. Those who are responsible always get the short end of the stick.

I think I need to start being more useless so I can start recieving handouts.

Its unfair to help people? I don't get it some. Some people talk like they want to help others, but won't do anything at their own expense in terms of money and time. So when something is implemented to actually help others which may be in need by no fault of their own, people are mad. And yes their are those that may get help that shouldn't be, but those people are greedy. How do you stop greed?

Obama has created a welfare state beyond anyone's imagination. He will be lucky to keep his job in about a year. Even liberals will have had enough of it but since they voted for him, they'll hold their comments. Unbelievable how he is killing initiativem, innovation, hardwork, fairness.

I wonder if the President will get a bail out on his 1.5 million dollars house in Chicago?

WahhhhhHH! WahhhhhhHH!!!

The rich people aren't getting all the bailouts anymore!!

Wahhhhhhhhhhh!!!!!!!

an yet again, we reward bad behavior...

At this point you are badly affected if your neighbor cannot paid their mortagage. Your home value will go down if your neighbor's house is forclose on so I think its really unfair to be mad at president obama when he is only trying to do what's best in a situation he was given, its not like he caused this crisis. So whether you like it or not thats the reality and the faster people learn to deal with it the better.

Those who are really responsible are the fools who convinced all those people they should and could own their own home. They are to blame but will escape responsibility. I susepct they belong to both political parties!

who cares if it is unfair? If it will help stabilize the market, then so beit. I think it is pretty unfair that the Feds let Lehman tank and saved Bear Stearns, there was no reason to chose one over the other (and note, i am not in finance, but education, so i have no personal investment in the issue). But what happened, happened, and if homes are foreclosing like crazy, we will spiral even more out of control. I say Bravo to President Obama for actually doing something about this very key economical issue.

We that play by the rules get punished, the Government (steals our money by Taxation without representation) and gives it to those who are not responsible and live by a set of different rules. WE WILL NOT FORGET THIS. And some wonder why there is discontent with the Government, and Officers of the Government that don't even pay Taxes like the rest of us....................

Obama sshould let everyone refinance their mortgages adn lower their interest rates with no cost refinances, there will be more money in ppl's pockets that way.

strong – don't be to quick to judge because some people got behind on their morgage becasue of job lose. Strong some day you just may lose your job and then what! Be care of what you say becasue nothing is promised.

rewarding bad behavior. it is the beginning of the end for barry.

It is unfair, and I don't support it. I have never been polled in all my years, go figure. But I have to pay my taxes, and other people's mortgages evidently.

I am going to meet with a lawyer and see if I can declare bankruptcy so I can collect my share of the Obama giveaway.

This administration seems to be hell bent on rewarding everyone who fails, cheats or isn't bright enough to manage their own affairs. People who are honest, and work hard, but are in trouble, trying to do the right thing? NOTHING.

How can he look himself in the mirror? This is just so wrong on so many levels.

Is fair to bail out the banks and the big cats ? So why not help those who really need it ?

It's really hard to shake the "what's in it for me?" mentality.

We are only as strong as our weakest link, and our weak links need help right now. Those of us who are treading water, but not yet actually drowning... need to tread a little longer.

pure socialist =tax everything

cnn pls post it

If Americans think this plan is unfair, but 57 percent feel it will help the housing market and approve of the bill, why did CNN lead off with Americans think the bill is unfair? What should the headline be? Since only 7 percent of those polled think the mortgage plan is unfair and don't approve of the plan (the difference between 64 and 57 percent in the poll) maybe the headline should read, "Americans concerned for others; very un-Republican". I guess Campbell Brown wrote this headline.

So many whiners....sheesh!!!
Just be glad the mortgage mess is getting solutions, because until it does this economic mess will continue.

The problem with Socialism is that at some point you run out of other peoples money.

A Democrats dream. Make everyone worthless and dependent upon the government for votes. The government can’t spend enough on losers.

the richest only crook poltiicans and his cronies

Just how long will the Obama administration plan on having the people pay for houses not worth their value? No-one Knows when the country will hit bottom. But most well informed Americans know what it will take to avoid it. That is what I think is irritating. How much longer?

If you pay your mortgage and are not in arreas, why do you need help?Many of these people got in trouble not for their fault but the fault of the banks who raised their premium payments out of their range. Why do you feel left out.? Isn't it better to have everyone in a sound financial situation and not have to have homes in your area forclose which indirectly will effect the value of your home? Thank God that you were able to stay afloat and if the economy improves, yours will also.

Yep Obama is sure taking care of the stiffs of the country thats for sure.

Hey strong didn't you just read what Gene wrote before ?

Leave it to CNN to NOT point out that allowing these houses to foreclose and go under just exacerbates the problem and lowers ALL home values ... Context not welcome @ CNN, apparently.

Pure Socialist =TAX EVERYTHING

I think Keating Holland is correct that many Americans don't like to see preferential treatment, but don't want to see people suffer at the same time. To me this is like taking the mortgage situation to the doctor and the doctor prescribes a remedy for the situation. While some may not be affected as strongly with the mortgage ailment, others are afflicted more strongly and need a larger dose.

What's unfair about it other than the mis-information talked about on conservative radio.

The Bible speaks about selfishness people who feels this is unfair. I would love to see any neighbor keep their home as long they played by the rule. So what I pay my mortgage on time, i learned it's not always about me. I hope this post.

..people need to visit HUD.GOV and read the plan...stop listening to propaganda...

Imagine that, "Buyers Remorse" is setting in.

I'm an Obama supporter but I think it's unfair. We are rewarding bad behavior and punishing good behavior. I'm sure there are many legitimate people being helped but I'm sure the majority are irresponsible people who either bought a house they couldn't afford or just plain can't or won't manage their money and pay their mortgage. Like many, I'm struggling to pay bills but I make sure the mortgage is the first thing paid. Will I get help paying my other bills? No. Not only that but I will have to pay taxes to fund this program.

I will reserve judgment until we see how this benefits the big picture.

The emporer has no clothes.

Ya think?
I never bought a home during the big buying boom because I didn't have
a 20% downpayment.
But I'm supposed to pay for those who financed 100% and bought more than they could afford????

Hmmmmmmm, a new national poll suggest that most Americans think the plan is unfair to those who pay their mortgages on time.

YOU THINK!!!!

--"A liberal is someone who feels a great debt to his fellow man,
which debt he proposes to pay off with your money".
--G. Gordon Liddy-

Add me to the poll... It helps mainly the ones that bit off more than they could chew from the get go...Now we have to bail them out...It is NOT fair to the ones that work hard and pay thier bills and TAXES!!!

True, it is unfair to those that pay their mortgages on time and have been responsible, and I can understand why this would make a lot of people mad.

But this isn't about what's fair and what isn't at this point. The people that have been paying their mortgages on time need to realize this... the more people fall to foreclosure, the worse the market becomes, and the lower their property values will plummet. This isn't about what's fair right now... it's about what's beneficial to the whole. And what's beneficial to the whole is to help as many people stay in their houses as they can... so that everyone else's property values don't plummet more than they have.

This plan (bailout) stinks.

If you can't pay your mortgage, then too bad. You lose. You shouldn't own a house then. What about all the others who do pay on time? Do they get any reward? Nope, just the deadbeats.

I am not happy with this unless a person lost their job. If you just got over your head with foolish spending then the consequences are yours to bear. You know when you take a loan if you can afford it or not. I am not in a home currently because I know what my financial limitations are and I cannot handle a house payment currently. This is the case with many working poor.

Forclosures and homelessness affects all of us, even those of us who play by the rules. It is in our ultimate interest to help them for our own long term well being as well as theirs. We are our brother's keepers...even if they do stupid things and wind up in trouble....

It is one thing for folks to have lost their jobs and need help. I am for that BUT what I am totally against is those whose eyes where bigger than their budgets and these people knew it! Move into an apartment!

Well the plan is making an impact on the market as we speak. Has anyone looked at the DOW today? Evryone may not like the plan, but it's going to be effective.

If you're more concerned with teaching someone a lesson, then you are about the value of your own home, then the economy is the least of your worries.

It's not unfair. It will help those that CAN afford to pay. It WILL NOT give a free house to the unemployed or the ones just trying to get something for nothing.

I like it, and I'll never even be able to own or start to buy a house. Just wanting something doesn't make it my obligation to pay for your gain.

AS,,,,,,,A,,,,,,,,,,,,,,MORTGAGE,,,,,,,,,,BROKER,,,,,,,,,,,,I,,,,,,,,LAUGH,,,,,AT,,,,,,,,

THE,,,,,,,,,SOCIALIST,,,,,,,,,,,,LAYOUT,,,,,,,,,,,,,OF,,,,,,,,,,,,THIS,,,,,,,,,SCHEME,,,,,

LETS,,,,,,,,,,PENALIZE,,,,,,,,,,ALL,,,,,,,,,,,WHO,,,,,,,,,HAVE,,,,,,,,,,,,BEEN,,,,,,,,,,,,

RESPONSIBLE,,,,,,,,,,,,AND,,,,,,,,,,,,,SUBSIDY,,,,,,,,,,,,,THE,,,,,,,,,RECKLESS,,,,

ANOTHER,,,,,,,,,OBAMA,,,,,,,,,,,SOCIALIST,,,,,,,,,SCHEME