President supports initiatives to help homeowners...

[MissJacksonCA]

http://news.aol.com/business/story/_a/bush-tackles-subprime-mortgage-crisis/20070831070509990001?ncid=NWS00010000000001

I think its great that he's taking a proactive stance on helping out the many many Americans who are having a hard time with their subprime mortgages i'm just not sure its going to work considering people most affected by subprime mortgages are those with bad credit pasts and low incomes... and now people are upside down on home loans and that's part of why they can't even refinance on their own...

I'd hate for this to wind up like Every Child Left Behind... sounds good on paper but in turn helps no one everywhere...

[strayrider]

Yeah, right.

Let American taxpayers "help out" people who bought, or refinanced their homes with loans that they knew they wouldn't be able to pay back. Makes a lot of sense.

How's about this: "Psssst, hey fool, you screwed up. Dump the house that you can't afford, rent an apartment, work some overtime, pay off your bills, and leave the rest of us out of your problems."

This is George Bush's fault.

I always knew that guy was a soft-headed liberal.

What I don't understand is why Democrats aren't down on their knees licking this clown's bunghole. He's one of them, except for the "R" after his name.

:D

-stray-

[Eyebiter]

Don't kid yourself this "help" is all about the 2008 elections. If that many people default on their mortgages and loose their homes the Republicans know they will be blamed.

[MissJacksonCA]

Technically it would be in the best interest of the Republicans to let home loans default. Because they would still get to collect the unpaid mortgages and they'd be able to sell the home to another sucker... And with the Republicans making bankruptcy even harder to claim... its likely that wont be a way out for too many defaulting homeowners...

I think its sweet the way he's trying to help but like I said... its going to be all talk and no action...

just like no kids let behind

[FoodFight]

This is truly sickening. These same people who cannot afford their homes now, won't be able to 6 months from now. It's all a scam to prop up the lenders so that they have a smaller number of properties to dispose of..... at taxpayer expense, of course.

[MissJacksonCA]

Not really... the majority of subprimes went to people who couldn't afford a home to begin with and/or who didn't have good enough credit to get a loan ... this program will only help out those with good credit... who knows if anyone will qualify...