WOW!! Oh yeah this will be an excellent program as I know several people who bought new construction, that will face this problem. I can't wait for this! This will help many families stay on deck.

I'm hoping that they come out with them before more families suffer hard adjustments that send them into foreclosure.

Our real estate business thrives on tragedy, think about some of your business opportunities. This tragedy should be part of your business plan, or give it up to someone else.

This is good news.  The last thing we need is tons of people loosing their homes and setting us back to where we were before the housing boom.

This must be a JOKE.  My wife and I resisted buying a home the past few years and invested in stocks instead (which are now getting hammered by the so-called credit crisis).  We certainly would have liked to have purchased a home for ourselves, but we felt the market was out of whack and decided to wait.  Now, all these 'poor' people who make irresponsible choices expect our taxes to bail them out?  Not to mention the fact that it will be harder for us to get our own mortgage now!  Sorry, but their foreclosed, irresponsibly purchased, formerly price-inflating home should belong to someone else...  Those of us who exercised self-control and responsibility are now being asked to pay for others' mistakes three-fold.  This is the epitome of unfair. 

I AM APOLLED AT THE FACT THAT THE PRESIDENT AND CONGRESS ARE TALKING ABOUT BAILING OUT HOMEBUYERS WHO HAVE ARM's AND GIVING TAX BREAKS TO MORGAGE COMPANIES TO REFINANCE SAID PEOPLE.  OUR HOUSEHOLD IS ON A FIXED RATE MORTGAGE AND WE MAKE OUR PAYMENTS FAITHFULLY.  TIMES ARE TIGHT FOR ALL, SO WE HAVE CUT BACK ON AXTRAS TO ENSURE WE DO NOT FALL BEHIND ON OUR "OBLIGATIONS".  NOW WE FIND OUT THE GOVERNMENT WILL USE OUR TAX MONEY TO BAIL THE IRRESPONSIBLE OUT AND ALLOW MORE PROFITS FOR THE MORTGAGE INDUSTRIES.  IT IS UNCONSTITUTIONAL FOR THE GOVERNMENT TO SINGLE OUT ONE CLASS OF PEOPLE OVER ANOTHER.

THIS SMACKS OF THE TEA TAX FROM THE BRITISH, WHICH WE ALL KNOW WHAT THAT STARTED.

I AM APOLLED AT THE FACT THAT THE PRESIDENT AND CONGRESS ARE TALKING ABOUT BAILING OUT HOMEBUYERS WHO HAVE ARM's AND GIVING TAX BREAKS TO MORGAGE COMPANIES TO REFINANCE SAID PEOPLE.  OUR HOUSEHOLD IS ON A FIXED RATE MORTGAGE AND WE MAKE OUR PAYMENTS FAITHFULLY.  TIMES ARE TIGHT FOR ALL, SO WE HAVE CUT BACK ON AXTRAS TO ENSURE WE DO NOT FALL BEHIND ON OUR "OBLIGATIONS".  NOW WE FIND OUT THE GOVERNMENT WILL USE OUR TAX MONEY TO BAIL THE IRRESPONSIBLE OUT AND ALLOW MORE PROFITS FOR THE MORTGAGE INDUSTRIES.  IT IS UNCONSTITUTIONAL FOR THE GOVERNMENT TO SINGLE OUT ONE CLASS OF PEOPLE OVER ANOTHER.

THIS SMACKS OF THE TEA TAX FROM THE BRITISH, WHICH WE ALL KNOW WHAT THAT STARTED.

This is a great opportunity for those who can participate in this program.  It is not a fix-all.  Many people will still loose their homes.  No one ever said life was fair.  Life is great!!! Look at your alternative. 

The United States already has a homeless problem and if this program can keep one family in their home it is a success in my book. 

Fabulous.  I am glad to hear that homeownerS will stop getting smashed because of the greed of others.  Everyone wants the American dream which in part is home ownership.  The more people that are able to hold on to their homes, the better for the economy.  Like it or not, the housing market is the heart beat of the American economy.   Our biggest investment is our home, the more homes that foreclose, the lower our homes are valued.  I don't know about anyone else but I want it to stop.  When the housing market suffers, we "all" suffer.   DON'T GET MAD AT THE HOMEOWNERS, GET MAD AT BIG BUSINESS.

I can't disagree more with Don Lambertson's comment "The United States already has a homeless problem and if this program can keep one family in their home it is a success in my book". People who lose their homes will not become homeless. If they're hard working and living within they're means they can rent a home, or rent an apartment just as I have been for the past half decade while some people were taking on risky loans. There is moral hazard to be considered, in that if homeowners are bailed out, a new precedent of government intervention into the housing market is set, and the problem will only continue indefinitely. Anyone who supports using tax dollars to prop up these poor investments should seriously consider moving to a communist country.

Aloha Joe,

Wow, this post was written some time ago. It's intresting to see how little we've moved forward on the credit crisis.

Peace

wow  bail out the homeowners  bull. Its the morgage leaders,appraissers and employees who only looked out for themselves $$$$$$$  I took out my loan in 2005 and have never missed a payment trying to rebuild my credit. My morgage company said don"t worry about the arm we will refy you. (ameriquest now citibank) Guess what my credit is better than it was in 2005 and I have never missed a payment . It went from 1,600 to 3,800 a month. Don't tell me it is all the homeowners fault. Something needs to be done for all the scam artist out there who are all out of business and not accountable for there greed.    If they would of said no or  not of appraised so high we would not be in this mess. why do you think there is so many people forclosed on. FRAUD