Senator Hillary Clinton's Housing Plan

RE:Senator Hillary Clinton's Housing Plan

Neil — Mon, 14 Apr 2008 11:00:00 GMT

The officers and executives at banks and investment houses made huge bonuses and salaries while reporting huge profits. The fact that these profits only existed because their financial statements understated the potential losses with their loan products is being ignored. Selling these products in some cases included bonuses to mortgage brokers of 3 points for each flaky loan. Now these officers and executives want to keep the inflated bonuses and salaries they "earned" and stick the taxpayers with the losses. A pox on them all.

RE:Senator Hillary Clinton's Housing Plan

Anonomous — Fri, 04 Apr 2008 11:00:00 GMT

What people don't understand is that there are A LOT of people out there that qualified for mortgages and are STILL going into foreclosure due to loss of jobs or other issues. The issue is, in this economy, it is difficult to tell sometimes which people are which. So how do you treat these people to the others, where I heard that 20% of customers from one very big bank are going into foreclosure. Statistically, those numbers are not possible without some hanky panky going on behind the doors.

RE:Senator Hillary Clinton's Housing Plan

BF — Thu, 03 Apr 2008 11:00:00 GMT

"All the education and all the knowledge in the world can't help the poor soul who has no common sense." Benjamin Franklin

RE:Senator Hillary Clinton's Housing Plan

Brenie — Thu, 03 Apr 2008 11:00:00 GMT

I don't understand the big out cry. Those people (like myself admittedly) that should never have gotten the mortgage in the first place, well we don't qualify for the FHA mortgage either. The reason, my credit was ruined by Hurricane Katrina, and I am more sick than anyone else in the South of hearing that excuse, but all and all it is true and the government did nothing to help us out. Why would they set up a plan now that would help us. I went from an income of $5000 a month to $800 per month following the storm. I was turned down for the SBA loan for "recent late payments" Heck yeah, I had recent late payments. I lost not one but 2 jobs as a result. Our mortgage co. wanted all back after they told us following the storm not to worry about a thing. Luckily I was able to get back to work and just this past January able to get my home out of foreclose. My notes have gone from May 05 to current and have doubled in under 3 years. No we were not expecting this when we signed for the variable rate interest. We were expecting to be able to refinance in 2 years with a lower fixed rate, and would have been able to if not for the disaster. Now my interest rate is steadily going up whereas the national rate has fallen. It was explained to me that my rate would be variable with the current market rate. I was mislead by the mortgage companies and feel a lot of other people were in the boat with me. We didn't know what we were getting into and that is part of the reason for this crisis. I in NO WAY support Sen. Clinton, however, I do support any plan that can fix this mess.

RE:Senator Hillary Clinton's Housing Plan

Scott — Tue, 01 Apr 2008 11:00:00 GMT

Mir, the FHA loan limits were temporarily increaed with the Simulus Bill. The limit in Cook Cnty is currently $410k. You can look up limits in counties across the country at the following link. https://entp.hud.gov/idapp/html/hicostlook.cfm

RE:Senator Hillary Clinton's Housing Plan

Mir Alikhan — Tue, 01 Apr 2008 11:00:00 GMT

I do agree to bail out mortgage crises we need to act now as Sen.Clinton suggested. If not it will be a disastor looking from any angel. I want to know if the FHA loan limit will be increase in Cook County, Illinois , and when. Where to get this information. Please help provide. Thanks.

RE:Senator Hillary Clinton's Housing Plan

Roger Hermann — Tue, 01 Apr 2008 11:00:00 GMT

This again is a stupid plan. Interfering in the private market. Forcing changes in private contracts. That should help restore confidence in the market. Have a panel made up of the very people who caused this mess with easy money. What a great idea.

RE:Senator Hillary Clinton's Housing Plan

Mir Alikhan — Tue, 01 Apr 2008 11:00:00 GMT

This is already a mess, that's why we need a plan to get out of it. If not it will be a Bearstearns. So if you have a better plan Mr.Roger Hermann, why can't you suggest one. It is easy to say, but it hurts to resolve it.

RE:Senator Hillary Clinton's Housing Plan

PurpleFlash — Tue, 01 Apr 2008 11:00:00 GMT

So once again the answer for this woman running for president is a Federally gauranteed Bailot". I guess there is no problem too big or small to spend taxpayers money on to solve. So the Federal government now becomes the gaurantor for motgages that should have never been written in the first place. And they, being loans that the borroweres cannot afford or have the ability to pay back are going to be restructured and packaged and resold...to who? Investors who already know that the borrowers had no ability to pay back? Oh yeah I forgot, the Federal Gov't will gaurantee them so that the new investors will have NO RISK - only the taxpayers will get screwed now.

RE:Senator Hillary Clinton's Housing Plan

Lou — Tue, 01 Apr 2008 11:00:00 GMT

What do you do? Sit on your hands until everything collapses like ti has been suggested over and over by know-it-all's on the blogs since Dec 2006??? The ramifications for doing nothing is huge. Get a clue.

RE:Senator Hillary Clinton's Housing Plan

uw of the day — Tue, 01 Apr 2008 11:00:00 GMT

Has anybody actually read her plan- What good is bundling up the mortgages and SELLING them??? to who?? the banks who just wrote off billions??? You cannot restucture a loan that should not have been made in the first place-So who is going to buy theses mortgages ??Wait a minute,, maybe Bin Laden,,Al Quida & the Arabs would buy them so then we could destroy the terroriststake their money- and be paid off in oil- and then Hilary could pose kissing the PLO leaders wife,,,,,,,,,etc etcwait a minuteshe already did that-

RE:Senator Hillary Clinton's Housing Plan

Duh — Tue, 01 Apr 2008 11:00:00 GMT

This is an April fools plan, right?

RE:Senator Hillary Clinton's Housing Plan

uw of the day — Tue, 01 Apr 2008 11:00:00 GMT

God help us if she gets elected,,,, the laws are already on the booksenforce themwe do not need more legislation-It does not take a village-It takes prudent underwriting with simple loan products-If you must legislate something make neg am illegal-the loans that should not have been made in the first place MUST be flushed through the systemnot propped up by the govt to extend obligations that cannot be met by the borrowera moretorium on foreclosure has got to be the most stupid and transparent Clinton idea yet-what an obviousyet childish political stunt-very sad-our government cannot carry the entire mortgage industry and we will never get investors back if democrats wreck the system forgiving debt and punishing investors for buying our mtg's

RE:Senator Hillary Clinton's Housing Plan

BH — Tue, 01 Apr 2008 11:00:00 GMT

Do you really think Hillary doesn't understand the full implications of her proposed plan or do you think as I do that she doen't mind the long term harm it will cause as long as it wins her votes. Look people, this government has to stop throwing money at every problem that comes its way. Pat is correct people who make poor decisions must suffer the consequences. As for Bear Stearns, the net effect was a transfer of power to another brokerage house to protect the investors they represented, not to necessarily bail out the company. Just like Enron or the Subprime mortgage mess, those who put all their eggs in one basket play a dangerous game. Back to Senator Clinton, has she even considered the negative effect these spend spend spend solutions will have on the value of an already weak US dollar. Dear government, STOP SPENDING MY MONEY.

RE:Senator Hillary Clinton's Housing Plan

Tony — Tue, 01 Apr 2008 11:00:00 GMT

As with her health care plan again another misguided inadequate plan. I agree with Roger there: Let's have Greenspan etcal : the people partially responsible. if not for causeing : for not heading off the crisis have another hand in it : Stupid idea ! We allow the government to exist to provide us with certain things. It's not just to annoy the Republicans or help the rich stay rich. It is more than right for the Gov to step in: Unfortunately : it's always too little , too late ! And, sometime the so called "help" is no help at all as evidenced by the recent Bush tax give back. That is just money I gave them to misuse anyway. We need a janitor not a President to clean up the corrupt mess !