Time for a New Mortgage Plan

LETS SELL OR MORTGAGE THE 10,000,000 PUBLIC HOUSING UNITS.they gotta be worth something ,they cost over $100,000 each, just to build them.not counting, repairs,replacement, AND NONE OF THEM ARE IN FORCLOSURE

LETS SELL OR MORTGAGE THE 10,000,000 PUBLIC HOUSING UNITS.they gotta be worth something ,they cost over $100,000 each, just to build them.not counting, repairs,replacement, AND NONE OF THEM ARE IN FORCLOSURE

When will this house of cards collapse?

Get over it already - foreclosures are your friend! Lower prices, ho!

great idea, but i dont see it happening as long as these mod plans are voluntary on the banks part.

On News Hour yesterday President Obama told Jim Lerher that his program had helped 100s of thousands (I'm paraphrasing). But reports show millions in foreclosure. I think he "copped out" on saying there aren't enough resources to help everyone. Yet we have the huge bailout of banks and car companies. This is why Americans are starting to doubt the President's programs. President Obama needs to listen to this guy.

The ability to walk away is about the only thing that keeps banks from predatory lending that they know will never be repaid. Why would we want to make more laws that help the banks enslave more people and leave them with no moral hazard to irrational lending.

You would think that the American people would soon realize that the government is not the solution - it is the problem. But when you have leading politicians like Obama and Barney Frank saying "don't blame me" the government will do very little to alleviate the problem. The time is very very close to the point of no return and the damage done being irrepairable. Oh well, I always did like Argentina and it may look tame compared to the U.S. in a few years and my Spanish is not that bad now that I am exposed to it everyday in the U.S.

I'm waiting for Johnny Ike's take and great stock picks.

Great idea, about time.

I'm waiting for Johnny Ike's take on things. Any expert stock picks for today?

Once again, those of us who have made wise decisions, navigated through this mess, and still have our heads above water are going to get dragged under by those who did not... Stop the hand outs... If you lose your home because of bad economic times (hey, sometimes those are the breaks), then so be it... Not everyone is entitled to own property, myself included! With that being said, I do feel bad for those being who were doing things the right way and just got caught in this financial Tsunami... But that is life and life isn't fair... One day, those who are responsible, will be able to own property again (hopefully)!

obamas solution is to TAX THEM MORE... HIT THEM WITH MORE TAXES... INCREASE FEES... ya, obama is a scumbag?.. what did that prof say? LOLOLOLOL.... obama a socialist scumbag, is that what the prof said????? oops.... (but true)... how's that hope and change working our for you now??? LOAN MOD PROGRAM WAS A COMPLETE FAILURE FROM THE BEGINNING.. JUST A SCAM JOB.. WORTHLESS...HELPED 4 PEOPLE MAX

Are you kidding? Why wouldn't they still walk away? I mean 50 % of something I don't know will return, or 100% of a new house I get on the cheap when this thing finally turns around? Think about it.

you cant sell /mortgage 10 million units!!!...if you did you would have to LAY OFF 300,000 police .and thats just in detroit

The answer to the foreclosure problem lies with the same thiefs who created the problem in the first place....the Lenders. The Lenders have been given free money, yet they still want 5% interest on these dollars from the borrowers plus are making it very difficults for borrowers with great credit. The answer is quite simple.........across the land make every mortgage 3%, no qualifing, no appraisal.......just 3% interest. So, the lenders make a few less dollars, who cares. The homeowner keeps his house and has money to spend with the retailers. Doesn't sound like rocket science to me, yet our politicians have never run a business not even a candy store so how would they know simple math. They can't see the forest for the trees.

These scammers got themselves into the fix. Let them get out on their own. This isn’t the first time homes have been under water. In the past people invested in homes they could afford and also lived in. These scammers expected to roll the property at a higher price. Markets fluctuate.

Yeah we need a new plan! A way to get rid of Barry O and the congress before they tuns us into another California!! All of Barry O's plans will be proven failures and when he is done - we will be so broke, that no one will want our IOUs!

Whatever the plan, it will fail, because the undercurrents of what is left of the real market will find the holes in the plan, leak through, and erode it down to nothing. Prop up existing home prices and people will simply build new ones for less money or they'll rent or whatever. The central planners of the world can never seem to spot even the most obvious truths because their pathetic group-mind, go-along-to-get-along, team-player, jock-sniffer code places money higher than truth and being a popular parrot above being an unpopular original mind.

I'm aware of one couple who tried to sell their house for more than 2yrs, and finally turned it in to the bank. They could afford the mortgage, they did not want the house any longer. And that was a year ago, in an area (in Colorado) that was not yet hit with price declines.