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. Ula Nejad Sacramento, Ca

    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?

    March 4, 2009 02:11 pm at 2:11 pm |
  2. maria loredo

    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

    March 4, 2009 02:12 pm at 2:12 pm |
  3. cnnnewser

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

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

    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.

    March 4, 2009 02:13 pm at 2:13 pm |
  5. tax cheater

    pure socialist =tax everything

    cnn pls post it

    March 4, 2009 02:13 pm at 2:13 pm |
  6. Cindy

    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.

    March 4, 2009 02:13 pm at 2:13 pm |
  7. Ryanna

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

    March 4, 2009 02:13 pm at 2:13 pm |
  8. Mark

    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.

    March 4, 2009 02:13 pm at 2:13 pm |
  9. Dittohead

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

    March 4, 2009 02:13 pm at 2:13 pm |
  10. gl, Pittsburgh

    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.

    March 4, 2009 02:13 pm at 2:13 pm |
  11. Miss - take

    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.

    March 4, 2009 02:13 pm at 2:13 pm |
  12. Jim in Texas

    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....................

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

    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.

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

    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!

    March 4, 2009 02:14 pm at 2:14 pm |
  15. G

    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.

    March 4, 2009 02:14 pm at 2:14 pm |
  16. robbie

    an yet again, we reward bad behavior...

    March 4, 2009 02:14 pm at 2:14 pm |
  17. Danny in Chicago

    WahhhhhHH! WahhhhhhHH!!!

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


    March 4, 2009 02:14 pm at 2:14 pm |
  18. Dale

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

    March 4, 2009 02:15 pm at 2:15 pm |
  19. Glenn Martin

    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.

    March 4, 2009 02:15 pm at 2:15 pm |
  20. DB

    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?

    March 4, 2009 02:15 pm at 2:15 pm |
  21. Andrew

    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.

    March 4, 2009 02:15 pm at 2:15 pm |
  22. JF

    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.

    March 4, 2009 02:15 pm at 2:15 pm |
  23. Il_voter

    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.

    March 4, 2009 02:15 pm at 2:15 pm |
  24. JA/TN

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

    March 4, 2009 02:15 pm at 2:15 pm |
  25. Denver Mom

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

    March 4, 2009 02:15 pm at 2:15 pm |
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