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

Poll: Majority say Obama mortgage plan is unfair

[cnn-photo-caption image=
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. Debbie

    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..

    March 4, 2009 02:53 pm at 2:53 pm |
  2. Jay

    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.

    March 4, 2009 02:53 pm at 2:53 pm |
  3. Kimberly in Azizona

    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!!!!!!!!!!

    March 4, 2009 02:53 pm at 2:53 pm |
  4. Rudy

    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.

    March 4, 2009 02:53 pm at 2:53 pm |
  5. OJFL

    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...

    March 4, 2009 02:53 pm at 2:53 pm |
  6. Jenny

    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...

    March 4, 2009 02:54 pm at 2:54 pm |
  7. Jim

    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.

    March 4, 2009 02:54 pm at 2:54 pm |
  8. benvictor

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

    March 4, 2009 02:54 pm at 2:54 pm |
  9. Unhappy American

    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!

    March 4, 2009 02:54 pm at 2:54 pm |
  10. David in Houston

    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.

    March 4, 2009 02:55 pm at 2:55 pm |
  11. Andi

    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.

    March 4, 2009 02:55 pm at 2:55 pm |
  12. Michael Meschter

    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!

    March 4, 2009 02:56 pm at 2:56 pm |
  13. Grumpy

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  14. Rex

    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"?

    March 4, 2009 02:56 pm at 2:56 pm |

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  16. Really?

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

    March 4, 2009 02:56 pm at 2:56 pm |
  17. Hera

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  18. Ron Jeremy

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  19. Matthew, Detroit

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  20. Tumbling down!

    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.

    March 4, 2009 02:56 pm at 2:56 pm |
  21. Kimberly in Azizona

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

    March 4, 2009 02:57 pm at 2:57 pm |
  22. Dennis

    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.

    March 4, 2009 02:57 pm at 2:57 pm |
  23. truthsayer

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

    March 4, 2009 02:57 pm at 2:57 pm |
  24. Gary in Oklahoma

    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

    March 4, 2009 02:58 pm at 2:58 pm |
  25. Carl

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


    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.

    March 4, 2009 02:58 pm at 2:58 pm |
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