Obamas plan

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Fiery CNBC discussion as Liesman just plain thinks the Gov has now responsibility in setting in motion the greed of private sector. In my opinion, it started long before when the credit card companies loosened requirements, led to some of us overextended (yes, I made that choice too) then the ‘bailing out’ by use of easy money mortgages and inflating home values. For ME it would have ended long ago if easy qualifying sub prime had not been available.

I believe this relates DIRECTLY to where we are in Washington and most State Govs
as they have ALSO run up the ‘credit card’ with the FED abusing its responsibility by printing more money/QE and other instruments.

I learned the hard way, short sell on house even before the ‘crisis’ began. Still paying for it today, it hurts, but it is the right thing to do!

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President Barack Obam’as stimulus package will have many benefits built in to ease the financial burden on troubled homeowners. AP Personal Finance Editor Trevor Delaney explains. E-mail your questions to yourmoney@ap.org (Feb. 25)

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Executives at two of the nation’s largest banks say they are struggling to get homeowners to complete the necessary paperwork for the Obama administration’s mortgage relief plan, and only a fraction of homeowners have finished the process. (Dec.

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Obama wants to offer more debt to those loosing their homes with little equity. More debt means a longer time to be stuck paying on a home thats no longer worth what you owe. Why cant you pay that mortgage off mr. president, instead of helping just the banks?? Help us which helps the banks in the LONG RUN.

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