Republicans and democrats come together to help homeowners

We have already moved out of our home to get on with our lives..... we had built a brand new home and it became too much to bare....we were misled by a builder who took money from us and didn't finish the home. Before this mess we had great credit....never late, never missed a payment on anything....now that our credit has taken a hit, how can we ever get another mortgage.....WE CAN AFFORD A MORTGAGE but not the one we had. We made contact immediately with our bank and filled out the necessary "work out package" and they just want to wait to see if it will sell...meanwhile every month we miss our payment we take a hit on the credit and the fees keep racking up! So how are we to move on and buy another house in a year????

I don't think the government should be picking up the tab for irresponsible homeowners who borrowed more than they should have or bought a bigger house than they should have. I for one DON'T want my taxes to pay for someone else's mistake. When I purchased a house 10 years ago, the bank would have given me more money than we spent, but we were fiscally responsible knowing what we COULD afford. Taxpayers paying to bail out irresponsible advice from mortgage companies is not the government's job.

jensmith wrote:

I don't think the government should be picking up the tab for irresponsible homeowners who borrowed more than they should have or bought a bigger house than they should have. I for one DON'T want my taxes to pay for someone else's mistake. When I purchased a house 10 years ago, the bank would have given me more money than we spent, but we were fiscally responsible knowing what we COULD afford. Taxpayers paying to bail out irresponsible advice from mortgage companies is not the government's job.

I understand what you are saying but you obviously did not read our story close enough and 10 years ago was a different world than todays. We were taken by a crooked Builder who not only stole monies from us but in the end also underquoted our project by 50%. We found out later that he had done this on his last 2 jobs and there are several sub-contractors and other homeowners who are trying to make thi man pay. I will take a wild guess that your next comment will be "why dont we go after him in court?". The laws in Massachusetts protects the contractor not the homewowner in this instance and if we did take him to court and won he would most likely file bankruptcy and then we would have a very expensive piece of paper saying we won. We did not get in over our heads we did not ask for this to happen, if my money had not been stolen and if the house came in on budget even if had come in 30% over budget and on time we would have been able to easily afford the mortgage. The Governement spends money on many things I dont agree with, but considering what we have spent our money on over the last 16 years I think helping out people who are in my families kind of situation should be handled by the government.

I am not looking for a free handout mind you, if anything all I want is to be treated fairly when I am able to go for another mortgage my credit has been destroyed because of what this man has done and I communicated with the Bank well before I was not able to pay the mortgage and my credit should not be hurt by this if anything it should be reinstated to what it was when it happened, that's really what I am looking to have someone do for me.