Should the government bail out underwater homeowners?

Asked by Lorriehastruck, San Francisco, CA Mon Apr 1, 2013

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Mack McCoy’s answer
Mack McCoy, Agent, Seattle, WA
Thu Apr 4, 2013
It is said, if you want peace, work for justice.

The government - the People of the United States of America - did not drive homeowners underwater. The government did not adequately police the activities of the packagers and insurers and originators of home loans, but that does not make them/us responsible.

What the Government should do is . . . well, I don't really know, but I think that Government pays a lot of attention to people who make really good money, and not much attention to those who don't. I know that my neighborhood schools wouldn't be any better off if homeowners had a lot of equity or not, but they'd be better off if none of the kids in attendance had hunger problems or unattended-to health problems.

The Government should have jailed a LOT of people. Bailing out underwater homeowners isn't justice, in any way, shape, or form.
1 vote
Anthony T.Cr…, , 11217
Tue Apr 2, 2013
I believe the government should bail out underwater home owners.It seems some of the current programs haven't been that effective. Short sales are timely and don't really help the homeowner and loan modifications are also timely and frustrating to the home owners. It's also a matter of where will the money come from. As long as they use this as a replacement for existing programs that aren't working. Along with bailing homeowners out they need to help them understand how to avoid this happening again.
0 votes
John Souerbry, Agent, Fairfield, CA
Mon Apr 1, 2013
Only if the homeowner agrees to pay back the amount of the bailout if their property value bounces back and they enjoy a profit on the property's sale later.
3 votes
John Arendsen, Agent, Leucadia, CA
Wed Apr 3, 2013
Bail out, Forbearance, forgiveness. Let's just keep giving and giving until there's nothing left to give. Why not? We can just keep printing money and look for more bail outs!! Doncha just love America?
1 vote
Brian Kelly, Agent, San Francisco, CA
Mon Apr 1, 2013
no.. and I need 25 characters so "no again"
1 vote
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