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. dg

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

    March 4, 2009 03:09 pm at 3:09 pm |
  2. Bruce

    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.

    March 4, 2009 03:09 pm at 3:09 pm |
  3. Mark

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

    March 4, 2009 03:10 pm at 3:10 pm |
  4. Joseph

    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.

    March 4, 2009 03:10 pm at 3:10 pm |
  5. K. Owe

    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!

    March 4, 2009 03:10 pm at 3:10 pm |
  6. Erik

    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.

    March 4, 2009 03:10 pm at 3:10 pm |
  7. connie

    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.

    March 4, 2009 03:11 pm at 3:11 pm |
  8. yuri

    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.

    March 4, 2009 03:11 pm at 3:11 pm |
  9. Brian

    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...

    March 4, 2009 03:11 pm at 3:11 pm |
  10. slickingdom

    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.

    March 4, 2009 03:11 pm at 3:11 pm |
  11. Randal

    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.

    March 4, 2009 03:11 pm at 3:11 pm |
  12. LG

    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!

    March 4, 2009 03:12 pm at 3:12 pm |
  13. Concerned Mom

    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.

    March 4, 2009 03:12 pm at 3:12 pm |
  14. Obama is clueless

    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.

    March 4, 2009 03:12 pm at 3:12 pm |
  15. ruth stoker

    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.

    March 4, 2009 03:14 pm at 3:14 pm |
  16. keba

    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.

    March 4, 2009 03:15 pm at 3:15 pm |
  17. Spencer/Newport News, VA

    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.

    March 4, 2009 03:16 pm at 3:16 pm |
  18. Joe

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

    March 4, 2009 03:18 pm at 3:18 pm |
  19. Taking responsibility?

    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!!!!

    March 4, 2009 03:18 pm at 3:18 pm |
  20. Sheila

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

    March 4, 2009 03:55 pm at 3:55 pm |
  21. gene

    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

    March 4, 2009 03:58 pm at 3:58 pm |
  22. Barbara

    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.

    March 4, 2009 03:58 pm at 3:58 pm |
  23. sally, san diego ca

    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.

    March 4, 2009 04:00 pm at 4:00 pm |
  24. dotjet

    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!

    March 4, 2009 04:01 pm at 4:01 pm |
  25. Bill

    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 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.

    March 4, 2009 04:02 pm at 4:02 pm |
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