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Home › Forums › Housing › LA county is considering a bail-out plan for people facing foreclosure

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  • August 22, 2007 at 11:25 PM #9988
    waitingtobuy
    Participant

    Just heard in local news that LA county is creating a fund with few hundred million dollars to rescue troubled home owners who are facing foreclosure. The news reporter was commenting that something like this may well be considered by San Diego.

    How crazy and outrageous is this? Where is this bail out money coming from? Obviously from our taxes. Why should I pay taxes for funding people’s bad and greedy decisions. Why should I bail out the banks who were distributing loans like free cash. Seems like govt is incentivising these thugs.

    And where would take the market to? Will it not encourage these same group of greedy folks to continue pulling in simillar loans and buy McMansions?

    It seems like Housing Market in San Diego may never restore to a sane level, thanks to stupid govt, dis-functional banks and greedy thugs within general public….

    August 22, 2007 at 11:30 PM #79472
    Coronita
    Participant

    Doesn't surprise me. Government only takes care of the really rich and goes with want the masses "want". Doesn't matter want political party.

    Is this concept really hard to grasp? 

    August 22, 2007 at 11:30 PM #79622
    Coronita
    Participant

    Doesn't surprise me. Government only takes care of the really rich and goes with want the masses "want". Doesn't matter want political party.

    Is this concept really hard to grasp? 

    August 22, 2007 at 11:30 PM #79599
    Coronita
    Participant

    Doesn't surprise me. Government only takes care of the really rich and goes with want the masses "want". Doesn't matter want political party.

    Is this concept really hard to grasp? 

    August 22, 2007 at 11:52 PM #79603
    temeculaguy
    Participant

    A few hundred million, great, that should just about cover the relatives of those who are creating the fund. 8 million people and they will save one tract of homes, genius. Even if it is two hundred million, they will spend 150 million administering it and long before it hits the first recipient someone will realize that the schools need the money and potholes need fixing, they will change their plans, blame the federal government and think that they still look good in the eyes of the people losing their homes. And in the end they will still be the largest metropolotin area in the history of these united states without an NFL team. When will they get it, screw the poor people, I want football. Sorry, I’m off my meds, the season is about to start, I’m nervous about Norv Turner and I want more options within driving range just in case. Norv, if you are reading, you have the only team South of Bakersfield and more talent than Jesus had at the last supper, about 20% of the country is banking on you, don’t *&^$&* up.

    August 22, 2007 at 11:52 PM #79475
    temeculaguy
    Participant

    A few hundred million, great, that should just about cover the relatives of those who are creating the fund. 8 million people and they will save one tract of homes, genius. Even if it is two hundred million, they will spend 150 million administering it and long before it hits the first recipient someone will realize that the schools need the money and potholes need fixing, they will change their plans, blame the federal government and think that they still look good in the eyes of the people losing their homes. And in the end they will still be the largest metropolotin area in the history of these united states without an NFL team. When will they get it, screw the poor people, I want football. Sorry, I’m off my meds, the season is about to start, I’m nervous about Norv Turner and I want more options within driving range just in case. Norv, if you are reading, you have the only team South of Bakersfield and more talent than Jesus had at the last supper, about 20% of the country is banking on you, don’t *&^$&* up.

    August 22, 2007 at 11:52 PM #79625
    temeculaguy
    Participant

    A few hundred million, great, that should just about cover the relatives of those who are creating the fund. 8 million people and they will save one tract of homes, genius. Even if it is two hundred million, they will spend 150 million administering it and long before it hits the first recipient someone will realize that the schools need the money and potholes need fixing, they will change their plans, blame the federal government and think that they still look good in the eyes of the people losing their homes. And in the end they will still be the largest metropolotin area in the history of these united states without an NFL team. When will they get it, screw the poor people, I want football. Sorry, I’m off my meds, the season is about to start, I’m nervous about Norv Turner and I want more options within driving range just in case. Norv, if you are reading, you have the only team South of Bakersfield and more talent than Jesus had at the last supper, about 20% of the country is banking on you, don’t *&^$&* up.

    August 23, 2007 at 12:02 AM #79480
    SD Realtor
    Participant

    I agree… I don’t see these funds helping much but it pisses me off bigtime that my tax money is paying for this no matter how little it helps.

    SD Realtor

    August 23, 2007 at 12:02 AM #79608
    SD Realtor
    Participant

    I agree… I don’t see these funds helping much but it pisses me off bigtime that my tax money is paying for this no matter how little it helps.

    SD Realtor

    August 23, 2007 at 12:02 AM #79631
    SD Realtor
    Participant

    I agree… I don’t see these funds helping much but it pisses me off bigtime that my tax money is paying for this no matter how little it helps.

    SD Realtor

    August 23, 2007 at 12:09 AM #79483
    JPJones
    Participant

    It begs the question of how many tax-paying voters a move like this would upset no matter what kind of spin they put on it.

    August 23, 2007 at 12:09 AM #79611
    JPJones
    Participant

    It begs the question of how many tax-paying voters a move like this would upset no matter what kind of spin they put on it.

    August 23, 2007 at 12:09 AM #79634
    JPJones
    Participant

    It begs the question of how many tax-paying voters a move like this would upset no matter what kind of spin they put on it.

    August 23, 2007 at 12:14 AM #79486
    newbiz
    Participant

    as citizens and taxpayers, do we have any rights to sue the county for setting up such a fund?

    I have a gambling problem and the Casino lured me with its ad’s of Cars and million $ jackpots. It was my american dream and ended up losing my shirt. I know a lot of other shirtless ppl, will the county set up a fund for me and my shirtless buddies?, no they wont, then why should the county set up a fund for ppl who gambled with speculative, leveraged moves in the housing market?

    If and when such a fund is setup, can it be questioned in the courts?

    August 23, 2007 at 12:14 AM #79637
    newbiz
    Participant

    as citizens and taxpayers, do we have any rights to sue the county for setting up such a fund?

    I have a gambling problem and the Casino lured me with its ad’s of Cars and million $ jackpots. It was my american dream and ended up losing my shirt. I know a lot of other shirtless ppl, will the county set up a fund for me and my shirtless buddies?, no they wont, then why should the county set up a fund for ppl who gambled with speculative, leveraged moves in the housing market?

    If and when such a fund is setup, can it be questioned in the courts?

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