H.R.1106 - Helping Families Save Their Homes Act of 2009

To prevent mortgage foreclosures and enhance mortgage credit availability. view all titles (5)

All Bill Titles

  • Official: To prevent mortgage foreclosures and enhance mortgage credit availability. as introduced.
  • Popular: Helping Families Save Their Homes Act of 2009 as introduced.
  • Short: Helping Families Save Their Homes Act of 2009 as introduced.
  • Short: Helping Families Save Their Homes Act of 2009 as passed house.
  • Short: Nationwide Mortgage Fraud Task Force Act of 2009 as passed house.

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Displaying 1-30 of 98 total comments.

nsbishop74 02/13/2010 4:17am

They are offering modifications! The bank offered to add 16 years to my mortgage. What a deal! How is putting me into more debt helping? They also said they could possibly lower my interest rate too! But only after giving me a 40 yr. mortgage and they wouldn’t tell me what that rate would be. I already have a 5 3/8% rate. And when I asked, I was told that they didn’t do "the hope for homewoner’s program.’ I was not irresponsible. I had excellent credit my whole life. I put 20% down on a conventional mortgage on a home I had planned to raise my family in. Even after a divorce and taking out a second mortgage to buy the ex out of his share of the equity(when the house still had positive equity!)I didnt mind working the ot every weekend and working midnights to work towards a future for my children and myself. I was working towards something! Now what? What am I working towards? My neighbor just payed half of what I paid for my home. And he got a credit!

dfharing 12/16/2009 4:43am
in reply to fordfse Feb 28, 2009 4:03am

Interestingly enough, the people that you are worried about benefiting from this bill (i.e. the investors looking to flip the home to make a quick profit) already have the ability to “cram down” the mortgage on an investment property; this has been part of the bankruptcy code for years. The ONLY people who cannot use this tool are the people who use the home for their primary residence. So, the only people who would be helped are those who were duped into believing that they could afford the mortgage by a bank who gave them the loan with teaser rates and ridiculous terms. Thus, the only people who would be hurt by this bill are big banks, and the only ones that would be helped are main street victims of predatory lending. As I said before, the speculators CAN ALREADY DO THIS, THE ONLY PEOPLE WHO CAN’T ARE THE PEOPLE WHO USE THE HOMES AS THEIR PRIMARY RESIDENCE!!!!!

Erwi31 06/01/2009 6:11am

What is really interesting is that Obama indicated on one of the sunday talk shows that the “united states is out of money”. So why do we continue to print it? Why are we spending something we do not have? I see a huge bankruptcy down the line, like that back in the 1930’s
My question to you all is? What is defined as a recession and what is defined as a Depression? And if we believe that congress or our government should make that call, why?; they are the ones who put us into this mess in the first place.

lakotajk 05/01/2009 3:24am
in reply to Anonymous Mar 02, 2009 5:45am

Awsome Anonymous !!!!!!!!!!!!!!

lakotajk 05/01/2009 3:22am
in reply to csledbetter Mar 01, 2009 1:24pm

Your not paying for anything and it was not a gamble in many cases…
It’s a fresh start for some that really need.

lakotajk 05/01/2009 2:57am
in reply to JamesBarrett Mar 05, 2009 7:20am

You go James…I had a sickness in my family that went on for 4 months and the stse of NY only gave us 125.00 a week..and as said I drive a diesel truck and my fuel bill was almost 5 dollars a gallon.
So…let the banks eat it..it’s interest anyway and we are always bailing them out..it’s time for the small guys.
Have a great day!!!

henhousefox 04/30/2009 1:46pm

Congress: Just stop spending money we do not have!!!

myfam 04/28/2009 8:23am

It is hypocrisy to allow banks to get bailed out and then demmand fiscall responsability from consumers that fell victims of the banks.

daringone 04/28/2009 2:36am
in reply to myfam Apr 20, 2009 2:23pm

The banks don’t deserve the bailouts anymore than the people do! The problem is that we have a bunch of morons in DC that keep spending our money when we don’t want them to. I was against all the bailouts too, I’m against DC running Detroit, and I’m against any more spending when we don’t have the income to do it!

katherinewatterson 04/27/2009 11:58pm

The people of this country need to be fiscally responsible as does the government. If people would have paid their debts as promised, our country wouldn’t be in the econimic mess its in.

myfam 04/25/2009 9:37pm

Don’t you realize this bill will help both of you?
Right now you have already been punished, and have already subsidized the actions of others…
You are already paying for it with the loss of value in your investments, and you are about to loose another chunk, unless this bill passes and the foreclosures are stopped. The bill will not cost taxpayers a cent, it only avoids the stupid lenders and servicers from choosing to foreclose instead of modify the the loan, The loss has occured already, but with the foreclosure it brings down the neighborhood value, with the cramdown the value stops falling, Are you bright enough to get this?

NanaG 04/25/2009 9:17am

I feel sorry for the people that are losing their homes. However, forcing the banks to take a write-down of the principle balance is ridiculous! If the interest rates are userious than yes…have them renegotiate and make it easier to refi..without all the $$$ added to it for their time – make the loan fees reasonable…. I have worked hard all my life to get my house paid for and don’t feel I should have to subsidize someone else’s mortgage.

snydes45 04/20/2009 3:34pm

Am I to be punished for reading the terms of my loan and checking it out for myself? No one wants to be held accountable. Everyone wants to blame it on Fannie or Freddie or the Banks but it is the people. An equal share needs to be put on each side in the contract. The government shouldn’t get involved in the contract period.

myfam 04/20/2009 2:23pm

If you took an ARM you are DEAD, you are WORTHLESS, and STUPID and will get NO BAILOUT. (Unless you are a BANK), beacause BANK’s are better than simple consumers, BANKS are good and they deserve big BAILOUTS.
Banks can get into ARM’s and taxpayers will rescue them, because when they got into ARM’s they did not do it because they where stupid, they can’t be stupid because they are BANKS. Worst of all is that consumers taken by the ARM scam are not asking for BAILOUTS, the BK law will not use any of this money, all it will do is maybe cut into some of the undeserved bonuses the BANKS are paying, most won’t even have to file BK because the BANKS will be motivated to modify and avoid the cost of foreclosures. It is stupid to object to this legislation.

thecat 04/17/2009 1:57pm

Who else are we expected to bailout, the drug pushers when they run out of stash? The gun runners when they run out of ammo? You guys have gone completely money crazy, and it’s not your money to blow. What a joke you all have become and especially BO. He’s so in over his head he’ll never see daylight again. I hope the Tea Parties, which have started as a whisper, end as a resounding roar loud enough to get all of you who have participated in this madness out of the Senate and Congress.

daringone 04/17/2009 5:41am
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Here is the bottom line. I’ve already replied to a few people with this line, so here’s the general one. If you took an ARM, I’m sorry for your poor choice, but that isn’t mine or anyone else’s fault or burden to bear. If you’re in an ARM, it’s for one of two reasons: You either couldn’t afford a conventional mortgage (which should have been a warning flag to you) or you’re an investor that couldn’t unload your suddenly devalued property. I have little sympathy for either. Anyone with any common sense knows ARMs are incredibly huge risks for borrowers, and rarely ever drop in rate. Yet people still take them anyway. I and I’m sure many others would rather not reward stupidity.

daringone 04/17/2009 5:34am
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in reply to Pissedoff Mar 26, 2009 7:59pm

I’m sorry for your poor decision to accept an ARM. But that is not mine or anybody else’s fault or burden to bear.

daringone 04/17/2009 5:33am
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in reply to Anonymous Apr 06, 2009 5:51pm

BREAKING NEWS – Democrats have just passed the largest budget deficit in HISTORY. And no, I don’t want to hear the Democratic talking point “Well, Obama inherited a 1.3 trillion deficit” because it’s a load of crap. Just because you inherit it doesn’t mean you need to go and QUADRUPLE it! (http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/) Seriously, it what warped world when you’re in debt over your eyeballs do you go and continue to spend more money that you don’t have? If you or I do that, it means we’re headed for bankruptcy, and pretty soon, so will our country if this doesn’t stop!

daringone 04/17/2009 5:15am
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in reply to JamesBarrett Mar 16, 2009 3:18am

I’m sorry for your poor decision to take an ARM. But that’s not mine or anyone else’s problem.

daringone 04/17/2009 5:13am
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in reply to Pissedoff Mar 08, 2009 5:28pm

The interest rate? Sure, go ahead and adjust for current times. I can buy into that. But the principal, that’s BS. If you borrow $100,000 you are obligated to pay back $100,000 whether the thing you borrowed it for is worth that now or not. No ifs, no ands, and no buts about it. If you want to bitch and moan about your $250,000 condo being only worth $150,000 now, and you should only have to pay that much back, then joe schmoe that bought his brand new car for $17,000 two years ago should only have to pay back the $9,000 it’s worth now. It’s the same faulty logic!

daringone 04/17/2009 5:07am
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in reply to Anonymous Apr 06, 2009 5:46pm

The problem with this is that then there is exactly ZERO incentive to start a business. As it stands, a potential small business owner can scrimp and save up enough coin to start his business, and at worst if his business fails, he or she is out that money alone. While that sucks, it’s far worse to be paying back that debt the rest of your life. To do away with bankruptcy for businesses would be to do away with small business in general, and LOTS of jobs.

daringone 04/17/2009 5:04am
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in reply to Anonymous Apr 06, 2009 5:41pm

Exactly, which is why we should be discouraging all of this spending. Spend, spend, and spend some more the government says. Who cares, it’s not their money! It’s ours, our grandchildren, our great grandchildren, and our great great grand childrens! It sucks for the 3rd generagion of newmeximan’s that they will be born in debt to the government for over $30k through no fault of their own. STOP WASTEFUL SPENDING! GET OFF THE GOVERNMENT TEAT!

daringone 04/17/2009 2:49am
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in reply to JamesBarrett Mar 05, 2009 7:33am

Or, the rate discourages purchase until the consumer has their credit under control and can afford what they want to purchase. Or, they purchase something smaller that they can afford until they have enough equity to afford something bigger. But of course, it’s not popular to say that in today’s thinking. In today’s thinking, everyone is entitled to everything whether they’ve earned it or not.

myfam 04/14/2009 7:19am

If you let them fall in their faces, another house in the neighborhood will be empty, and drag the values of the entire neighborhood with it. Shoot yourself in the foot! The left one! the one that has the ugly toe nail! Maybe it will learn from the pain, Maybe they will have to amputate and you will be rid of that stupid foot forever.
… Get it?

Clint_Thomas 04/13/2009 10:51pm

you are not doing these people any favors, let them fall on their face, they will get up brush themselves off and maybe, just maybe they will live within their means

Anonymous 04/06/2009 5:55pm
in reply to dietpepsimom Apr 03, 2009 9:41am

We do have a right to renegoniate contracts – it is called consumer protection. This was eroded under Republicans, because they were elected by bank and finance contributions. Consumer protections are coming back. Adjust for that.

Anonymous 04/06/2009 5:51pm
in reply to kgotjesus2001 Mar 25, 2009 4:31am

BREAKING NEWS – The Republicans lost the election, and they have a dwindling minority in the House and Senate. The majority of American citizens do not agree with you. There will be plenty of room in prisons for people who choose to break the law by not paing taxes, and your choice to not pay your share will likely result in a large fine anyway. Thanki you for paying for the debt the Republicans ran up. That 32% who are opposed to the Democrats agenda are the problem with America anyway.

Anonymous 04/06/2009 5:46pm
in reply to fehrmann69 Mar 05, 2009 6:52am

Judges change contracts every single weekday – in Bankruptcy Court. They are allowed to do that by law for businesses. Bankruptcy reform made that more difficult for individuals under GWB. Maybe we should make bankruptcy impossible for business, and asddle the owners with a lifetime of debt. That is what the bankruptcy reform did, in it’s reversal of consumer protection laws.

Anonymous 04/06/2009 5:41pm
in reply to dewalker Mar 05, 2009 3:43am

Becuase I have to pay $34,000 to finac an occupation that I was opposed to. Everyone has to pay for the decisions that our legislators make, whether we agree with them or not.

PS There is still 9 years of payments due on the debt the Reagan got us into. I was opposed to that spending, and yet I pay

Anonymous 04/06/2009 5:38pm
in reply to rmblount Mar 04, 2009 7:29am

And in 2004, President Bush and Sen. Shelby doubled the numbers of loans given to people with questionable credit worthiness. Nice try at re writing history.

The GAO has the report that Bush ordered – read it for clarification before you point fingers.

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