Foreclosure rescue plan poised to pass Senate
WASHINGTON (AP) - A mortgage rescue plan is headed for Senate passage Friday, but it's anything but a done deal. Despite broad bipartisan support, the bill is facing a rewrite in the House and a veto threat from President Bush. The package would authorize 300-billion dollars in new government-backed loans for strugglinging homeowners. It also includes billions in tax breaks and a nearly $4 billion provision to buy-up and rehabilitate foreclosed homes. Key players are planning for a week of intense negotiations over House concerns about the Senate version. One bone of contention is the home buy-up provision. Conservative "Blue Dog" Democrats say that needs to be balanced by tax hikes or spending cuts elsewhere. And the White House also objects, calling that a bailout for the lenders who helped cause the mortgage meltdown in the first place. (Copyright 2008 by The Associated Press. All Rights Reserved.) The following comments do not necessarily represent the views of NBC-WKTV News Channel 2. Users have agreed to these terms and in doing so accept full responsibility for their comments. Moderation is limited. Sunday, Jul 27 at 9:48 PM kevin studstill wrote ...many of these homeowners are young newly webs with small children , lte's think about the kids that will also be lose the place they call home to go to some run down aparment on the bad side of town or the first thing that's available for shelter or pre-owned homes that has been paid for year's ago getting rich off of the dump they expect someone to call home Flag for moderationSaturday, Jul 12 at 1:14 AM maria wrote ...i feel sorry for those facing foreclosure but what about the other homeowners who are struggling nobody wouldnt be in this condition if the government wasnt so greedy increase the paychecks everything else is going up Flag for moderationFriday, Jul 11 at 1:46 PM Andy K wrote ...I have yest to purchase a home, how much of the 300 billion do I get toward my down payment? Flag for moderationFriday, Jul 11 at 1:36 PM lavender wrote ...I am so sorry for those people however, I paid cash for my home whey should they get theres as a break. I am facing a $12.000 oil bill a mo. Who is going to " bail me out?" and on top of that I am on ss . No I don't think I should pay for their mistakes and they are BIG mistakes on the part of the people that were irresponsible to begin with , not making enoug ( if any ) to purchase a dream some of us had to wait a lifetime for. Sorry let them get it like the rest of us not from me! Flag for moderationFriday, Jul 11 at 12:28 PM Nana wrote ...This forclosure mess can be attributed to greedy banks giving mortgages to greedy people that wanted to live beyond their means for a cheap price. I have not worked all my life to support these greedy people. They all should learn how to live within their financial means - like the rest of us that own homes and can pay our mortgages every month without worrying about Foreclosure. I hope President Bush remains firm and Veto's this bill when it lands on his desk. Flag for moderationFriday, Jul 11 at 12:22 PM Great wrote ...Ok lets see, I buy a house WAY over my head, take out a second so I can buy TWO SUV'S(which will never see any dirt roads)Put in a pool, run up the credit cards.unable to pay the monthly.........PLEASE BAIL ME OUT UNCLE SAM! Only in AMERICA! Flag for moderationFriday, Jul 11 at 11:50 AM new home owner.. who did not go over her head wrote ...I just bought my home.. I knew that the bank apprv us for way too much so we looked at a house under what they apprv us ... we knew what we could afford and what we couldnt.. the banks do not take into consideration your car ins homeowners ins, gas and electric food etc... it is not fair.. i knew what i could afford.. why do we have to bail people out who bought over their heads.. that is not fair..... Flag for moderationFriday, Jul 11 at 11:20 AM waste of our taxs wrote ...Didnt all these people do the math when they bought there homes? If you make X amount of money minuts house hold and fixed exspences it doesnt take a rocket scientist to realize when the low fixed morgage rate you started atends and it goes up you wont be able to afford your home. Did you think between the sale and when the rates when up you would win the lottery? Our tax money should not be used to bail out people who could not aford a home to begin with. Flag for moderationFriday, Jul 11 at 11:05 AM upset in paris station wrote ...why should the rest of us pay for other peoples houses who got in over their heads. I guess they bought more house then they should have. Lets hope they bail out us working class people this winter with our fuel oil bills. It seems the only ones who get help are the lazy ones on welfare or people who are irresponsible. Flag for moderationAdd a comment |
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