One Year NO Mortgage Payment???

That’s right, it’s true! The government is allowing people who have been laid off of from work, one full year with NO mortgage payment. With no job, no way you’ll qualify for a loan modification and with one year of no payment, you won’t have to worry about foreclosure or short sales either!

In my opinion, the government is again throwing money at a problem, putting a band aid on it and calling it a day. Until they do something meaningful and permanent, I see no end in site to short sales and foreclosures. So if you have no job, how is one paying their other bills? When they do get a job, what comes first, mortgage or car payments, credit cards, food, gas, water, electric, school?

I read a lot of blogs and hear a lot of folks opinion and it’s always the same. If someone has already had a foreclosure, they say, oh get over it. If someone is doing okay, they say oh get over it but if someone is in trouble and did nothing wrong to get there, they are just looking for a little help. Everyone did not refinance their equity away, or get a home they could not afford by means of a 1% rate. Some people just lost their jobs and here in California, some people woke up having 200k plus in equity only to lose it and another 200k on top of it. I don’t think it’s fair for families such as this to get foreclosed on or have to short sale their home.

I know, I know, I know…. Tax payers don’t want to pay a struggling home owners bills but I guess it’s okay to pay the banks bills via bail out? So I guess as is, when the family has to short sale or is foreclosed on and becomes homeless, we’ll just wait to pay their bills then. Something has to give and for once, why can’t the recipient be an American Family as apposed to a Third World Country, a War we should not even be in or the Big Fat Bankers?

What do you think???

For more information on the one year with no mortgage payment, please visit http://politic365.com/2011/07/11/white-house-gives-unemployed-homeowners-1-year-loan-repayment-relief/