March 4th, 2009
04:37 PM ET
13 years ago

Poll: Majority say Obama mortgage plan is unfair

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/03/04/art.getty.obama.3.4.jpg
caption="A new national poll suggests that most Americans think the plan is unfair to those who pay their mortgages on time."]WASHINGTON (CNN) - On the day that the Obama administration begins implementing a new program to fight home foreclosures, a new national poll suggests that most Americans think the plan is unfair to those who pay their mortgages on time.

Sixty-four percent of those questioned in a Quinnipiac University survey released Wednesday feel the Obama administration program is unfair to those who pay their mortgages on time. Only 28 percent say that the president's $75 billion plan is fair. More details on the program, which is aimed at helping up to nine million borrowers stay in their homes using refinanced mortgages or modified loans, were released Wednesday.

Americans may not like the plan — but that doesn’t mean they think it’s a bad idea. While nearly two-thirds think the plan is unfair to those who follow the rules, 57 percent say they approve of the package, and 55 percent believe the plan will stabilize home prices.

"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," said CNN Polling Director Keating Holland. "And unlike federal assistance to auto companies and banks, the Obama mortgage plan appears to benefit individual Americans, typically a more popular option in polls."

The poll also indicates that lenders are getting the lion’s share of the blame for the mortgage mess: 62 percent of those question blame them for the current crisis, to 25 percent who blame borrowers.

The Quinnipiac University poll of 2,573 people was conducted by telephone February 25-March 2, and has a sampling error of plus or minus 1.9 percentage points.


Filed under: President Obama
soundoff (533 Responses)
  1. JOE KILOZ

    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

    March 4, 2009 01:58 pm at 1:58 pm |
  2. Had It

    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.

    March 4, 2009 01:59 pm at 1:59 pm |
  3. CommonCents

    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.

    March 4, 2009 02:00 pm at 2:00 pm |
  4. Dutch/Bad Newz, VA

    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.

    March 4, 2009 02:00 pm at 2:00 pm |
  5. Steve (the real one)

    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!

    March 4, 2009 02:00 pm at 2:00 pm |
  6. Accountability

    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....

    March 4, 2009 02:00 pm at 2:00 pm |
  7. Anna

    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.

    March 4, 2009 02:02 pm at 2:02 pm |
  8. strong

    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.

    March 4, 2009 02:04 pm at 2:04 pm |
  9. Gene

    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.

    March 4, 2009 02:05 pm at 2:05 pm |
  10. GG

    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!!!

    March 4, 2009 02:05 pm at 2:05 pm |
  11. Texas Proud!

    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-

    March 4, 2009 02:05 pm at 2:05 pm |
  12. Christine

    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????

    March 4, 2009 02:06 pm at 2:06 pm |
  13. Steve

    The emporer has no clothes.

    March 4, 2009 02:06 pm at 2:06 pm |
  14. Baze

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

    March 4, 2009 02:08 pm at 2:08 pm |
  15. Bipartisan

    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.

    March 4, 2009 02:09 pm at 2:09 pm |
  16. Gen Patton

    Imagine that, "Buyers Remorse" is setting in.

    March 4, 2009 02:09 pm at 2:09 pm |
  17. Angel

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

    March 4, 2009 02:09 pm at 2:09 pm |
  18. Ohio for Obama- Suburbs

    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.

    March 4, 2009 02:10 pm at 2:10 pm |
  19. April Pilgrim

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

    March 4, 2009 02:10 pm at 2:10 pm |
  20. Melody Chapin

    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.

    March 4, 2009 02:10 pm at 2:10 pm |
  21. tax cheater

    Pure Socialist =TAX EVERYTHING

    March 4, 2009 02:10 pm at 2:10 pm |
  22. mk

    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.

    March 4, 2009 02:10 pm at 2:10 pm |
  23. Alvaro

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

    March 4, 2009 02:11 pm at 2:11 pm |
  24. Debby

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

    March 4, 2009 02:11 pm at 2:11 pm |
  25. talmag

    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.

    March 4, 2009 02:11 pm at 2:11 pm |
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