CNN

The ensuing statement refers not only to the housing problem but to the myriad of challenges/obstacles with which the President is faced.

Again I will repeat the chorus that the state of affairs is not Pres. Obama’s fault. His inheritance was a heck of a deficit caused by those who went before him. America’s glory days are long gone. This became evident the other day when I simply opened a bottle of liquid cleanser and upon using it found that it was drastically watered down by the manufacturer to make money. Almost everything we buy is made or grown in China – some are passable and others are not.

He took on a job knowing full well that it would take a miracle to turn back the clock. His mission on this earth is to soften the blow and I give him an A for trying while facing great odds, name calling, etc.

If the delinquency is not due to something catastrophic, let them fail! Else, they will never learn to manage their money and repeat mistakes. I object to this use of my taxes.

Welcome to the new America, where playing by the rules and paying your mortgage and taxes gets you a hot cup of jack squat. On the other hand, if you don't pay your mortgage or fail to take on your responsibilities, you get taken care of by the government. Can anybody say welefare is back in style?

Not entirely sure how throwing millions of families out on the streets, b/c they got behind on their mortgages due to scam loans and a crummy economy, benefits anyone in the US. The more houses foreclosed, the less YOUR home is worth. So shut up about how you think the "poor" and "lazy" are destroying the country, look in the mirror, and hopefully realize how completely un-Christian (and un-American) you are being.

What a coincidence. 650,000 homeowners got "help". 650,000 jobs "created or saved".

That comes to 1.3 million individuals "helped" by Obama's $1.3 trillion deficit. No wonder Obama never held an executive position before getting selected for President.

And one more thing: I'm sure that NONE of those who've received any government money to keep their houses are Republicans! Because that would be hypocritical, wouldn't it? Also, once health insurance reform gets passed, I'm sure not one single Repbublican will be signing up for the public option because, again, hypocritical! Besides, we all know that Republicans are all self-sufficient, all have good jobs, all have employer provided health care, pay more taxes than the rest of us and have all the answers to everything! Hey, if they can do it, anybody can . . . RIGHT??? Just like not one single Republican Govenor took stimulus money for their state . . . . OOPS . . . . can you say HYPOCRITICAL????

Thank you Mr. President.

Why do republicans seem obsessed with the idea that someone else is getting something for free and they aren't? It seems like the republican party stands for nothing but selfishness and "me-ism." I have never heard one of them express concern for anything other than their own wallets.

This program only delays the inevitable.
How many of these homes have gone into foreclosure despite the loan mods?
If it wasn't Clinton and his CRA, many of these people wouldn't be in this situation in the first place.

Republicans really don't get it...

Yeah, darn that Obama for trying to help people stay in their houses! He's robbing the rest of us blind by trying to help people!!!! It would be so much better if he would just trump up some reason to start a war somewhere that trillions of dollars can be wasted on instead of helping American citizens!

Dig a little deeper into your reporting CNN. If you did, you'd discover that a lot the 650,000 trail modifications are meaningless. A lot of these loans are being put into modifications, so the servicers can collect past due fees for 3 to 6 months, while still foreclosing on the homeowner. After 6 months, many homeowners are not only not getting modification approvals, they're getting their foreclosure notice.

You're not doing the homeowners that are loosing their homes, reporting what a success this program is....when in fact it isn't.

The important number to report is Permanant modifications. They mean something. Temporary modifications don't mean much of anything right now.

If you're behind in payments it's probably due to you losing a job, or not refinancing to a fixed rate when you should have.

Paying money in this case will only delay the inevitable. What are we trying to acheive here?

Progress? 650,000 American's continue to live in a house that they cannot afford to buy. Someone needs to track how many of these people eventually default on their loans. My guess, high double digits, probably well over 50%.

By the way, if they are being given debt foregivness, that is a taxable event, and they need to pay taxes on the amount of debt foregiven. They can take out an equity loan to pay those taxes.

Keep printing money Bama!

It is good to someone who is trying to help people. We are fortunate to have an opportunity to get away from the failed policies of the morons that occupied the white house for the last 8 years, and the blind mice wingnuts that thought that destroying the middle class was good for America.

I can sum up this country situation in two words, Blame Bush. The worst president in the history of this country. Now we expect this president to pull us out in 1 year, he can't because he is trying to clean up Cheney and Bush mess. For 8 year we watched the war president do his thing and we said nothing. How silly could be, not to expect there was a price to be paid for war.
We need to go to Wall Street and Bush and get your money back. So to be fair, which I don't expect, give this President 8 years and then judge.

Where's my handout for being responsible!

How about they find all of us who have been paying our bills and give us a break? But if they did that, who could they tax to pay for everyone else's bills?

Americans will find anyway to scam anything the government offers. We are getting like Nigeria or the USSR, when does it stop?

If you are having trouble due to a job loss, etc then I think this is good and fair idea. The only problem is that the mess were are in was caused by many people who were living beyond their means. I am opposed to bailing people out who put themseleves in their mess.

To those on here who keep blaming Bush...done is done. This country and this economy are 100% in the hands of Obama and the democrats. 10.2% unemployment is on this watch.

Like many, I'm not a rich person, but I work very hard to pay my bills and don't buy it if I can't afford. I say the folks listed below, along with Obama, Reid, and Pelosi, help these homeowners that purchased a home they couldn't afford. If these members of Congress all chip in, and leave the rest of us alone, I'm sure they could fix the problem they created!

- FIVE RICHEST MEMBERS OF CONGRESS–

1. Rep. Jane Harman (D, Calif.): $215.11 million
2. Sen. Herb Kohl (D, Wis.): $215.85 million
3. Sen. John Kerry (D, Mass.): $213.8 million
4. Rep. Darrell Issa (R, Calif.): $158.58 million
5. Sen. Jay Rockefeller (D, W.Va.): $79.4 million

I am an American citizen who was helped by this program after an extended period of unemployment. I was able to keep my home, my son's home, because of it. It also gave me a little more time to find and secure gainful employment and get back on track without completely annihilating my credit. My family thanks you, President Obama. Thank you very much.

How many of these people who were "helped" had gotten themselves into trouble by buying more house than they could afford to begin with? This is just another way to secure votes and pander to the irresponsible. I have no problem helping people who are in danger of losing everything due to job losses or illness, but nothing about this administration inspires confidence that the spending will be confined to the truly needy. I would like to see an actual list of those receiving the handouts. My tax dollars do go into that pot, after all, and I want to know I'm getting my money's worth. Fat chance.

What about relief for those who rent....? Landlords have upped the prices of rent (mine was 5% last year and I only received a 3% cost of living adjustment in my salary...

It is unfair that only home owners are getting any help.

Thanks Mr. President! We have received our papers and are moving back to our home!

I make $70,000.00 a year. If I find a mortgage company greedy enough to loan me money to buy a $900,000.00 house and fall behind in my payments will Obama give the mortgage company money to bail them out of their bad decision and then also give me mortgage relief?

The problem with socialism is that eventually you run out of OTHER peoples money.

Aha, that must be why China already owns us.

Thank you Mr. President – !!!!!
We love you, and to heck with the naysayers and news media.

To All the Critics,

People this is not free money. These are restuctured loans.

Lots of bitter people out there. Betting they call themselves Christians too. Why did no one pay attention to Bush and his spending? Probably because he claims to be a Christian too.
One thing I don't get. The conservatives call themselves patriots and say they love this country. I am a liberal and love this country too, consider myself a patriot (yes, I have a job and pay taxes) and think my tax dollars are better spent on helping people in this country than on two wars that Bush started. Why do conservatives think we liberals don't love our country or are patriots? Can someone answer that?

Obama should stop farm subsidies to farmers. That to me is socialism as well. GOPers are full of nonsense, really.

Someone needs to run statistics on the people gaining taxpayer-funded assistance.

I'm not saying everyone deserves their lot in life. Plenty of people were forced into a predicament by medical or unfair economy-driven issues.

But the VAST majority of the people in foreclosure status are the people who didn't plan, and lived outside of their means. In my development, there are literally DOZENS of very nice homes that are in foreclosure for that very purpose. These people do not need government assistance - they need to wake up and taste the bitter cold of reality - that not everyone gets to live in a million dollar home.

The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 30% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty percent (40%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -10.

When President Obama HELPS AMERICANS the GOP calls it WELFARE!

When BUSH paid money to the president of Afghanistan's brother, the GOP ........ call it good diplomacy!

Hypocrites!

THANK YOU PRESIDENT OBAMA FOR HELPING AMERICANS!

I am sure that the GOP will demonize President Obama for offering this help. The GOP will be critical, will call President Obama names of every sort......... however, We, the People KNOW who is on OUR side!

This program is a joke, if you were a responsible bill paying citizen and kept up on your payments you are penalized under their Help program. They have special "Platinum" program administrators that help you default on your bills so that you qualify for their program! This is unbelievable what is going on, rewarding non-producers and penalize the achievers. Sounds just like what they have done to our public schools!

Unfortunately, there are a lot of people taking advantage of the home buyer credits too. Wealthy people are lending $ to their kids so they can buy a house and then they take the credit from their kids when they get it. These are the same people complaining about the 'Socialists' , yet they have their hand out taking money they don't even deserve.

COMPLAIN COMPLAIN COMPLAIN

(followed by...)
LIE LIE LIE

(followed by...)
WHNE WHINE WHINE

(repeat)

This is all you commenters do at the mere mention of President Barack Obama. Will you crabs in a bucket let the man do his job for a second without trying to pull him down, please.

He could save kittens from a tree or babies from a burning building and you'd still find something to complain about.

GET OVER IT

This is the kind of stuff that the American public need to hear more about. I did not vote for President Obama, but did not vote for McCain either, but IF the perception is that he (Obama) is doing nothing, then get this message out. At least it is something.

Not a fan of most politicians right now but I am a BIG FAN of good news, action and progress. There is lots of good news out there and if people hear more of it (are you listening CNN and other media outlets?) you will be amazed of how it takes on a life of its own....and it will be a good one not a bad one. But maybe I am just a delusional idealist and optimist.

If forced into foreclosure because of job loss or medical problems, then I'm OK with bailing people out. I do have a problem with bailing people out who have been living beyond their means. I live in rural PA and regularly see people(who can't afford it) buy houses that cost $250,000, $350,000 and more. My husband and I make more than a lot of these people and live quite comfortably in a much less expensive home. Add to your mortgage, car payments, child care, utilities, insurances, and donations to charity and church, how do you people sleep at night? I still feel like we're overextended at times.

Yet another failed program. When is America going to start holding Obozo responsible for his failures?

You think a republican president would do so much for the AVERAGE AMERICAN, not in a MILLION year. The Obama Administration has helped many Right wing Families with tax cuts for the middle class, reduced home foreclosures, saved many jobs, Put pressure on wallstreet and the banks with REGULATION, Health care for all soon and The dow has recovered. Have a open mind People, I am very disappointed how my fellow Americans can have so much HATE for MY PRESIDENT. He is working hard for us!!!

This is getting a bit crazy. I can sympathize with those who have lost jobs and the home mortage is no longer achievable. But for those that simply made stupid business decisions, most of them, buying houses they could not afford for whatever reason is simply no reason for assistance. Why am I being punished for living modestly within my means? $700,000 for a house?? , that is a mansion not ahouse. NO HELP AT ALL. If the market dictates that number then the market still needs to devalue some more.

So these "victims" tnat cant pay for their homes get my tax money when I bought a smaller house that I could afford and SAVED up a substantial down payment to keep my payments affordable. HMMM...seems we rewards failure and punish those who succeed.

Americans are hilarious – you are so partisan in your views that I can't believe you ever get anything done – then again you are lightyears behind other countries in social programs because of partisanship and the big bad boogieman of "Socialism". At some point I hope the US realizes that the Soviet Union was never socialist despite their name (just like you guys are really United). They were a dictatorship – pure and simple. Social programs strengthen a country – not weaken it. You are so focused on "independence" that you can't see the forest for the trees.

We suppose we can only help upto a certain extent. Once a helper extends his hands too much, too often, and to too many people, he will be crowned as a Marxist, by way too many.

Those who are willing to help themselves will be helped. But those who sit on their behinds, complain and find fault in everything our President is doing to help won't find help. So get off your behinds and make a difference for yourself and stop complaining about those who have been helped.

Who gets to pay for this. The one's that are keeping a float are having hard enough times as it is. So we will eventually get to pay for this as well.

Have you noticed all this money going out and nothing coming in. We are moving at alarming speeds towards bankruptcy.

I´ve got an idea!!! Why don`t the Republican`s just reject the offer, since they oppose whatever he does.... It´s just another way of Obama showing his Socialist ideas...

This does nothing to help those in trouble, except in extending the time their house will eventually be foreclosed upon.

With the OBUMMER socialst policies, the economy is struggling.

I know that we are not hiring because of the potential costs associated with the CAP and TRADE bill and especially the welfare HC Bill.

If we do hire, it won't be any DUMocRATS. Ha Ha OBOZO.

Way to muck up the economy. You stink.

Isn't this just peachy-dreamy when the taxpayers of the US have to pay for bad loans because they voted for Obama?

I need to stop making my payments so I can cash in on some of these socialist programs. I wants to get my share of Obama money.

Thank God for that stimulus plan....or else we'd all be in the street eating dirt...what a joke this child-king with a credit card has become...

Although there were many really bad deals made to people who thought they could get into the homeownership club, the time is long past for bickering about the rights and wrongs for govt intervention. The fact is that if they don't, there will be no value left in anyones' home. As foreclosures increase and homes go unsold the value will continue to drop until every single one of us will be "underwater." All of us "responsible" homeowners must continue to make the payments and allow the others to work out what they can to keep everything from going down the tubes.

"If CNN wants to do a real story follow up and find out how many of the 650,000 this program is supposed to have help are back in foreclosure again. I believe the number will be shocking."

What's shocking is that you just revealed that you really don't know how the program works and yet still comment here to vent your neocon frustration over November 4, 2008....a year later. Let it go or you're gonna end up with heart problems or an aneurism.

Yes it was stupid to let people with little ability to pay buy homes that they couldn't afford. If that was all there was to it, we'd have a bunch of forclosures and a bunch of sorry banks. But that wasn't the whole story. What nearly brought down the entire world economy was a bunch of Wall Street types who should have known better bundling said shady mortgages into collateralized debt obligations and other imaginary creatures without having the reserved capital to back them. Then these rocket surgeons started short selling them for short term gains as they collapsed. Meanwhile regulators (who went to the same schools and came up through the same firms as the aforementioned rocket surgeons) looked the other way when they should have been doing their jobs. Unregulated capitalism at its finest. But let's blame the poor people. Have a nice day!

A day late and dollar short, I am a disabled veteran of 30 years, and have lost two houses due to my disabilities and economy, no one helped me out.
Or even tried , my last house was a fanny may and I had it sold twice before forclosure , but because of all the goverment red tape could not get sales approved and lost house anyway.

I could use some of that money.

Disabled vets are the first to experience
problems due to there disability or economy but but last when $ moneys are handed out.

Great more tax payer's money put on a sinking ship.

Maybe I should become irresponsible and fall behind in my mortgage payments so I can get some of this Obama-money.

Too little too late once again Mr. President. I have no doubt you have hand picked the areas for this. Democratically control I'm sure. Another group being paid for putting you in the WH.

Americans need to take off their blinders and see that the President is
doing more for this country and the American people than any other President in U.S history. He is a true fighter for WE THE PEOPLE.

Way to go, President Obama

There's an underlying fallacy here with the apparent assumption that everyone facing foreclosure can be saved by loan modifications. At some point there's a line between modifications and a gift depending how far underwater they are.

Another example of big government's total inefficiency, and failure to help the masses.

Stupid me – I make my house payments on time.

where's mine ?

Thank you President Obama for dealing with the problems the foolish Republicans left our country.

CNN makes it look like more people should have this program available. No where does it mention that half of the reworked loans subsidized by taxpayers are in default after 6 months. Also if someone falsified their original loan documents they can still get one of the 2% loans. The people who run this mismanaged wasteful program are now going to be in charge of your healthcare.

650,000 is alot better than the republican alternative of letting your house get foreclosed on.

Any number this administration gives out should be met with healthy scepticism. Two words come to mind....fuzzy math.

This plan is complete garbage, because it never took into account the falling value of housing prices. Very shortsighted. By the time that was addressed, it ws way too late for many homeowners.

I think it is funny that only 20% of people have been helped. Just like only 20% of the stimulus has been put to work. ANd 20% of the H1N1 vaccine has been produced. Apparently we should refer to this administration as the Mendoza Administration (if you don't get it, google Mendoza Line and baseball).

And I am really tired of that stupid commercial with Obama saying relief is coming. Obviously, it isn't.

I am so proud of the man, our President, and I am so thankful I am alive during his Presidency. He has vision, compassion, intelligence, dignity, savvy and and ability to give millions hope. Thank you, Mr. President, for all of your hard work and dedication.

At a time when Americans are struggling, Obama is pushing through his ideological economy killing policies:

• carbon tax / higher energy costs / no new oil / inefficient green energy
(to destroy manufacturing and raise costs to consumers)
• government controlled healthcare
(it's not reform, because generally there is no cost reduction, just an attack on insurance, subsidized by taxpayers)
• private sector hijacking
(Obama wants to control over wages and failing companies? Stupid.)

Still don't understand why people buying houses they cannot afford becomes the tax payers problem. You buy above your means and I get to help pay for it...............yeah, that's a great deal. What is this administration going to do for the responsible tax paying citizens..........raise taxes! I am not sympathetic to the stupidity of others. You can blame the big bad lenders all you want, they were just giving houses away, but the blame is ultimately with the home buyer, you know what you can afford, it is up to you to read the contract and buy only what you can afford to pay for...............greed!

I am certain that those of you who resent GOVERNMENT INVOLVEMENT in your lives be it via healthcare, extended unemployment benefits, state bailout funds, Social Security or Medicare, will forgo this type if assistance and promptly file for bankruptcy. The nerve of this President trying to help citizens out!!

No matter what he decides to do, he'll still get heat from one side or the other. Bush jumped right in, promised "Bin Laden Dead or Alive" and then promptly backed off when he found a way to go back to Iraq to "finish" his dad's war. What happened to "Mission Accomplished" folks. We need to quit invading other peoples land with out a clear "exit strategy" just like Viet Nam.

Just watch, somehow the GOP (Gumpy Old Poops) will attempt to spin President Obama trying to help people keep their homes into a bad thing, and some secret socialist plot to take over the world.

If Bush were President, this headline would read, "2.6 million Don't Get Help from Bush's Plan".

Here is fox news oh i mean cnn finding a negative spin on a program that has helped 650,000 house holds. What did the republicans do to help anyone but themselves over the past 10 years.

What a welfare state!!! I wish I could take the handouts. The problem is I look at myself in the mirror every day. Obummie wants you sorry people to owe him. WELFARE, WELFARE, WEFLARE.....YES WE CAN!!!!!

a little more time and obummer will have the government supporting everything.

worse president ever and he's only been in office 9 months.
this is what you get when you elect someone with absolutely no experience.

This has been another money grabbing Obama fiasco (the man reminds me more of Carter all the time, up to and including the phony Nobel Peace Prize). If CNN wants to do a real story follow up and find out how many of the 650,000 this program is supposed to have help are back in foreclosure again. I believe the number will be shocking.