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February 26, 2009

Defending Obama’s help for homeowners

Some people oppose President Obama’s efforts to rescue foreclosure victims because they object to giving aid to those whom they say fraudulently bought lavish homes they knew they couldn’t afford. They are, in effect, punishing the many for the sins of a few.

There has never been, nor will there likely ever be a government program designed to help the needy that is 100 percent fraud-proof and crime-free. Why not go after the criminals who scam the system instead of trashing the entire program, effectively sealing the fate of the very people the program was designed to help?

Either the people who oppose this program don’t understand or they don’t care that forcing the vast majority to suffer due to the ills of a small minority is tantamount to throwing the baby out with the bathwater once a tiny flaw has been exposed.

Eddie L. Clay
Grandview

Comments

TinaMcG

We've always been surprised to learn how much mortgage we can afford, and we've always opted to take a conservative approach to borrowing. So it might behoove a loan officer to take note of the applicants' reactions when they learn what that top number is. If they react as though they've just won the lottery, chances are that loan won't be repaid.

Pub 17

Yeah, what ABOUT the personal responsibility of loan officers? Imagine, approving loans they know can't be repaid and expecting to walk away scot-free.

GCYL

“Some people oppose President Obama’s efforts to rescue foreclosure victims because they object to giving aid to those whom they say fraudulently bought lavish homes they knew they couldn’t afford.” - Eddie L. Clay

Hey, Eddie, no one said fraudulently. Use the correct word: willingly. What is it about personal responsibility that creeps so many people out?

 
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