http://news.bbc.co.uk/2/hi/americas/7585696.stm
People living in 4x4 conditions right across from the rich
And our government throws out a crumb and that's only if the lender decides to
agree to the program.
They kept selling those same loans for the first half of the year but the buyers of this years sold loans aren't even allowed to join the program even if their lender is willing.
That's not help it's bogus bull shit!
What about all the job losses out of the home building industry, do you really think that their credit score if they even have a job is going to allow them a new loan!
Not hardly! I know mine wouldn't at this point!
They destroyed our livelihood with their greed! Not to mention the retailers we bought from to conduct our business!
The only good part of all of this is that they destroyed theirs to!
My friends and I don't die alone!
But in this sun-washed haven of wealth, many live far from the American dream.
In a car park across the street from luxury mansions, the evening brings a strange sight.
A few cars arrive and take up spaces in different corners. In each car, a woman, perhaps a few pets, bags of possessions and bedding.
Across the street from homes with bedrooms to spare, these are Santa Barbara's car sleepers.
Homeless within the last year, they are a direct consequence of America's housing market collapse.
http://biz.yahoo.com/ap/081001/mortgage_aid.html?.v=8
Lenders, rather than borrowers, will decide whether to participate in the program, which requires them to take a loss on the initial loan. The $300 billion, three-year program is designed to help borrowers who owe more on their loans than their homes are worth.
To qualify, borrowers must be spending more than 31 percent of their income on mortgage payments. Loans made this year are excluded, except for those completed on Jan 1. Borrowers must have made six months of payments on their loans.
