I’m sick of bailing people out of trouble with my tax money when I’m getting no raises and no overtime but my expenses keep going up and up but just because I pay my bills, no one is looking out for me. I live in a hovel. All these people are probably in a lot nicer house then I could ever afford but please, take my tax money and give it to them.

“Forty million dollars”……another entitlement program. These politicians don’t understand we are a bankrupt nation. They keep spending, spending and spending. Welfare, Section 8, food stamps, etc. We borrow 40 cents on each dollar they spend. Each of us knows someone in over their head in a house and now we bail them out. When is it going to end?

where is the money to pay for my mortgage….oops…I forgot, I am part of the group that needs to pay my mortgage and someones elses mortgage, I guess tha’s because I work. I guess that the penalty for being responsible…Co on Tea-Party.

As frustrating as it may be for those who have jobs, are paying their mortgage payments, and have an income that is not keeping up with inflation, it is much more frustrating for those who have lost their job, due to the faltering economy. Before we jump to complain about the help that they receive (at our expense) let us stop to consider the long-term effect of “not helping them”. Every homeowner in the USA has experienced a substantial reduction in the value of their home as a result of the housing market slump. For those who purchased their homes 5-7 years ago (when the market was up) their loan-to equity ratio is up-side-down, which not only means that they are currently paying on a balance that is greater than the value of their home, but also means that they cannot sell their home to “get out from under that loan”. Neglecting to “help” those that are unable to make their mortgage payments, will serve to worsen the downward housing market spiral, and increase the ratio of loan balance to home equity for those of us that are able to make our payments. As you might expect, even a slight “worsening” of the housing market is likely to drive the failing economy into a longer and deeper recession.
These are times when we must be careful of what we wish for. For those of us who have jobs and are able to make our scheduled payments, be thankful. Turning our backs on those who are less fortunate is not the answer we are looking for, as it may affect us in ways that we have not considered.

I disagree with some of haters who want to lash out on those who are struggling. I am in my upper 50′s and have paid mortgages on time since I bought a home in my 20′s. I have moved and have married. I became disabled while on the job with the State and my income have dropped (Pension sucks). I took a interest only loan on my last purchase 6 years ago with the plan to move 3 years after this move. I put my house on the market before the market tanked and I had a lowball of an offer that was less than what I paid for. I have had to withdraw from my IRA and other funds to keep up and now that money is no longer there. I am mad at the greedy brokers and bankers, including wall street for this mess. They were not suppose to approve a loan when they know people’s incomes are not sufficient. I want to sell but will have to end up with a short sale. Our credit scores are 810 but the economy and this housing mess has caused me to worry that if the interest only loan goes up, I will be in trouble. So, haters….I think you need to try to understand what people are going thru before jumping conclusions. Our home values have nosedived due to the stupidity of bankers who allowed for this to happens in the first place.

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Florida is the worst state in the Union for Fore Closures and losing their homes and they do not have any guidelines about this issue for help with their Mortgage. If the Money is available for people in one state, how come it isn’t available in all States? And what the big secret? Why not advertise it? Must be some kind of fraud if they didn’t want others to know about it. Now a person has less than 24 hours to do something about it. What kind of help is this anyway? So many people have been burnt and in worse shape now then ever, from the so called Obama help. Dam!

I’m so glad that none of you have ever made a poor decision or believed a liar and made a decision on what you were told. The government is taking responsibility for allowing the banks to lend the funds without watching and now they are helping to make an effort to help the consumers. Let’s be grateful and less judgemental.

Everyone wants their own home so that they can feel independence in their home.Therefore various mortgages loans are available that may help the people to purchase their dream house

Yes there should realize the opportunity to RSS commentary, quite simply, CMS is another on the blog.

Stahl that’s very sad that you have lost everything but i am happy for you because at least you have not lost your home.Thanks to Emergency Mortgage Assistance for helping you and help you to stand back on your feet

you’re right-not that misfortune doesn’t strike, becuase it does, but I’ll tell you what, for a long time brokers told people “Sure, you can afford this $300,000 loan on a $50,000/yr salary”. it’s bull-I bought my home at about HALF of what the broker told me I could afford. I did my research, I knew the commitment I was making, and I wanted to be sure I could do it before I just went out and signed the dotted line. Seems like a lot of people haven’t ever heard of a mortgage calculator.

ive been in my home over 20 years..never missed a payment….NOW..i’ve lost my job…due to cut backs….that..along with unexpected medcal bills…have brought about drastic finacial changes in my life…..thankfully there are people in govt. that understand and are helping……now we have one less forclosure….and i have a little time to try to get my life back in order….this effects in no way…yet you are so full of hate….you feel the need to lash out…..that is really sad…….but i do hope your that only problems in life …..will be whether or not your home sells easily

Please do your research before you respond
this program is not for just anyone behind on their mortgage payments
this is for hardship cases.
some of the qualifying factors are
job loss and/or reduction in pay due to cutbacks or heath issues

rather than have them lose there homes,during this crisis period
the EMA program offers a “bridge loan”
that will help with their payments while they try to get back on their feet

please dont judge so quickly

there was a time when people came together during adversity.
now it’s just a free for all to kick em while they’re down
you don’t care why their down,you just kick.

Yes!
I think it is incredibly short sighted to blame the Brokers or any loan officer. These individuals were only compiling loan applications to submit to underwriting. The underwriting guidelines that these loans were either approved or declined were based on the criteria set by the banks. That same criteria was set by-You guessed it- Fannie and Freddie, the quasi government backed lenders. Perhaps if the government would have not meddled in the lending business and let the free markets determine who was credit worthy and how much they could afford then we wouldn’t be in this debacle. Thank you Barney Frank, Christopher Dodd and all of the politicians that decided they knew better than the banking industry when it came to lending parameters and how to lend. What did the banks have to lose if the loans that they wrote to the guidelines set by Fannie and Freddie went bad. After all they were guaranteed by the Government .

20+ years of payments did you borrow against your home to make it too expensive to keep?

I’m pretty sure that house was borrowed against. If Steve really did pay on it for over 20 years, it should have almost been paid off by the time he got sick.

Yes in 2000 i refinanced ……..and did some much needed home improvements
it was a 30 yr loan…..at a lower rate and lower monthly payments than my original loan…..seemed like a no brainer at the time……gee…if i’d only known that 10 years later…… i would suffer a heart attack and then lose my job ….due to cut backs……well… maybe i would have done things differently ….i also didn’t realize that by expressing my gratitude on TV for the EMA loan …that it would cause such hatred ……i just wanted to let people know …if they are going through a similar situation ….that there is a loan available to help them get through these tough times…’
Steve