Details are unclear, Will i get a bailout with my home underwater by about 15000? My mortgage is held by wells fargo. Should I stop paying now in anticipation of this or do I need to be 6 months behind. I am sick and tired of not being eligible for these programs because I play by the rules. Like a pevious poster said if I can take the bailout I will and then I will can these dems come november.
mortgage bailout coming next week???
- Thread starter tortoise
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I really hope this does not come to pass, but if it does I suspect the outrage will be so overwhelming that the Dems will not only lose the majority come november, the Repubs may gain enough to overturn a veto. Enough is enough!
This will backfire completely if it turns out to be true. The Dems will not gain any more votes because of it, but will take a lot of heat, from people who are not underwater, but realize that their tax dollars (and their kids future tax dollars) will be paying for this bailout (with interest).
You watch, this will tip the Senate into the Republican hands and the House Dems will get crushed by this.
Right now, the deficit is among the biggest concerns and the American people have no appetite for huge bailouts at this point.
You watch, this will tip the Senate into the Republican hands and the House Dems will get crushed by this.
Right now, the deficit is among the biggest concerns and the American people have no appetite for huge bailouts at this point.
This would be very inflationary.
I doubt it happens, mainly because we've seen zero substantial job-related stimulus proposals up to this point.
You don't go from proposing near $0 spending to a few trillion in one swoop.
(Also, as a solvent mortgage holder, I would be -very- pissed to see the morons who clearly didn't understand how to value property get a bailout where I didn't...)
I doubt it happens, mainly because we've seen zero substantial job-related stimulus proposals up to this point.
You don't go from proposing near $0 spending to a few trillion in one swoop.
(Also, as a solvent mortgage holder, I would be -very- pissed to see the morons who clearly didn't understand how to value property get a bailout where I didn't...)
I think that may be the case, I think they are trying to get votes through creating these bailout programs for the millions who cant afford to pay their mortgage any longer, they figure there are millions of them and if they can hand them free bailouts they believe they will get the votes. I think if this does come about it could hurt them more than help, I think people will be outraged and decide enough with democrats already, lets see something new, not that the republicans will provide anything great but I am sure thats the way many will look at it.
To 20000 quickly. This is equivalent to printing $1T and putting it straight into people's hands. The first $1T didn't work (in stoking inflation) because it went straight to shore up bank capital. This would surely amp up consumer demand like we've never seen before.
As well, the treasury would be sitting with a $1T loss.. They would have to sell debt to finance the decision. The Fed could optionally monetize this (by buying treasuries on the open market).
I'd bet this is next to impossible considering all the deficit-posturing we've seen up to this point.
Nah if the collapse of multiple banks, free bailouts to the wallstreet crooks and millions losing their jobs didn't create much of a stir in the streets of NYC then nothing will. Most don't even have a clue whats going on, as long as they can get their huge mocha grande cream coffee, there huge 62" plasma television or their new iphone they don't care what goes on.
Then there's a trade here, no? Some fairly far OTM call options, 2-3 months out. Longshot kind of a trade. Don't bet the farm, just a buck or two.