Mortgages & Foreclosures Support Group

Why should the government be held responsible??? I don't understand, I am not being condescending I just can't fathom why you would think that? So sincerely I am asking WHY, can you give me your train of thought so that I can understand. I think that the government had no hand in signing your mortgage papers AND on top of the a government agency HUD even bailed you out (albeit you do pay mortgage insurance)but why is the government responsible...because when you say "they all" what you are saying is taxpayers because in the end we, the hardworking people.. will be paying for people who took houses that they can't afford and are giving them back to the bank due to default. I would LOVE to live in a bigger house in a better neighborhood, but I know that I can't afford it, so I am responsible enough to only take what I can pay for...so why should you be any different, because you have an illness...why didn't you sell when you knew you no longer could afford your payment?

I guess I am opening this question up for debate but I stuggle with the pointing of fingers when I, as the appraiser, would go to houses and people have better cars, better furniture, better clothes...are refinancing treating their house like an ATM machine and then leaving when it runs out of money...it is completely irresponsible on their and the banks behalf, because everyone knows they are living ONLY on their equity. There should be a sense of responsiblity for your own actions.

I understand what you mean,
And if I wasn't the one this was happening to?? I say the same. When I bought my home. Life I knew was great. One day it all swept out beneath me. The Home owner Ins wants as much as I was paying my Mortgage. And I was under Insured.. I'm not married. I am all I have. And try selling a Home the way things are today. Its tough . I figure?? If it happens to me again. I will just send the Bank the Keys and walk away..

I really hope that you feel better and that things work out for you...I remember as a child living in a tent for 2 weeks because my mom had to sell the house we lived in... so there we were my mom 3 kids in a tent at a local park, my sister was in kindergarten and told the teacher that we lived in a tent, the principal called me in a very scary nun... and asked if that was the truth I was in 4th grade and that was probably the most embarrassing and scary day of my life because I didn't know what was going to happen... maybe I hold some fear and anger for this issue. I appreciate that you took my response for what it was...I respect that.

Sorry to hear about your troubles. I am late again with my mortgage. I took a second job part-time to keep up. After March I hope to be on track. I did the bankrupcy way to not lose my house.

I am really sorry about your troubles. I'll keeep you in my prayers. A lot of people in our country are unfortunately being faced with the same mess and it is the saddest thing to happen in America.

I have a comment about buying more house than we can afford. I bought a home within the supposed money charts my first-time home buyer program said I should be able to afford. I only was able to make my bills with little left over each month. I was never told once to buy lower than what these home-buying programs suggest you can afford. I eventually sold my home because of being laid-off. My home was sold in one month, but only after lowering my price twice. I think if homeowners are willing to leave, they can sell if they are willing to take a loss. In my case, it is looking like I will break even, which is fine with me. I heard on a radio show to buy half of what finance programs say you can afford in a home. I'm afraid that if anyone is alone and not in a highest paid profession, this leaves them unable to buy homes. I have a Bachelors Degree and I am pretty sure I can't find a decent home to buy on my sole income.

I just sent the keys back to my bank because I am on disability and could not afford it anymore. My income was equal to my mortgage payments... I understand that there is no assistance for someone going thru a hardtime because of health issues.
Get this: I called the "Hope LIne" and they told me it was hopeless!
I took in a woman with her 17 y.o. son and they stole from me!
When I bought my home I was a debt free single mom. I really understand how you can go from being productive to barely making it...you are not alone in this.

I have to agree that the gov't shouldn't be doing anything more to help people who can't pay their mortgages.

As far as "reading a chart of what you could afford" then spending that much on a house is plain stupidity.

YOU should know how much money you have to spend each month on a mortgage, the banks chart doesn't know that.

I think that people need to start taking responsibility for themselves. My hubby and I bought a house within our budget and even though the bank offered us $77,000 more we DECLINED it, knowing that we would not be able to afford it.

People, get a clue and realize that this is your fault and the gov't has better things to do than bail out people who can't read a contract and want a free ride.