Tuesday, May 12, 2009

Who's eligible for mortgage assistance?

http://www.cnn.com/2009/POLITICS/02/18/homeowner.plan/index.html

This article is about how motgages are at very low rates and families can't refinance to keep their payments on their houses from going under. The reason is that the value of the houses have dropped drastically and are not eligible if they owe more than eighty percent of the value on their homes. Homeowners are now trying to find ways to keep from facing foreclosures on their homes by getting new loans at a better rate. The reason for my choice of this article was to maybe open the eyes of homeowners that you don't have to just accept foreclosure just because of our bad economy. I have no opinion on agreeing or disagreeing with this article because this is just the way our economy is right now. The information has been presented fairly because this is helping homeowners all throughout the United States. I would recommend using Cnn.com again.
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4 comments:

  1. Marieli SilvaMay 12, 2009 at 5:32 PM

    yeah it's true alot off people are losing there homes because of this

    ReplyDelete
  2. DeishnaeMay 19, 2009 at 6:53 PM

    glad i dont own a house

    ReplyDelete
  3. RosaMay 21, 2009 at 5:59 AM

    I hope this sitiation improves and more people could save their homes.

    ReplyDelete
  4. Barbara G., New YorkMay 26, 2009 at 5:44 PM

    Jeff, I gather from your summary that you feel that you wish more people could save their homes through the federal program. It's controversial -- how do you figure out whether people aren't paying their mortgages through no fault of their own, like they got ill or lost a job? Otherwise, you have people saying why should my neighbor get assistance when he didn't pay his mortgage and I'm NOT getting help with my mortgage even though I'm struggling to pay mine? Be careful about the age of stories -- this one's two months old, and I really wanted something written in the last 7 days.

    Grade: 9/10

    Marieli, I agree that a lot of people are losing homes. Others are suffering because they need to sell their homes and can't.

    Grade: 2/2

    Deishnae, it will be interesting to see if more people think like you and decide not to risk buying a house in the future. I could see where it would be as much a burden as a plus.

    Grade: 2/2

    Rosa, Everyone hopes that, the question is how to do it so it's seen as fair.

    Grade: 2/2

    ReplyDelete

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