Mortgage Vs. Medicine

My mortgage company is trying to force me to make two payments i do not owe. I am current through Jan 09. They have juggled my account since March 07. Can this action be a way of gaining monies from the gov. bail out program by showing late payments due when they are not?

I'm supposed to feel sorry for them? I too have a handicapped child, I live in upstate NY in a 40,000.00 home which is PROPERLY mortaged that has a bad furnace, roof and plumbing, I barely eat to save $$ for medicine for my child and make too much money (33,000.00 annually) to recieve ant type of help. No wonder foreign countries hate us. Most Americans are greedy.

This situation has to take the cake! A waterfront house in NE on a college maintenance staff salary! This must be probably be some kind of April Fool's article.

Must be a private college!

Well you can't thank the united states government for the poor financial situation you're in. And thank the lender as well. Here we are spending billions of dollars to bail out ceo's that make millions a year, they can walk, see and hear just fine but the government is letting handicapped people go into severe debt. USA = poop.

Its heart-breaking to see familiy hardship to survives on this modern days paying $3500 per month .Obama Administration needs to modifies some of Amercians Family Home of "Ownership" lease mortgage terms to lease Terms ,for truely special cases. I would to suggest the Government to lead the solution by Letting this Couple to selll his "House Ownership "at present Market Price to the Bank .But Let them continuing paying the special "Lease Rates" let say $ 1500 per month by Signing Lease Contract period till the couple dies or decides to leave on his own,with this as his tenancy right..This where the Bank can totally Gains covering their early losses .Both Party Wins.

Did they really need to update their appliances? I understand taking loans out to make the house more handicap accessible, but the loan they took out to do that should not have included adding a few luxuries like upgrading to new appliances, which can get VERY expensive. These people just really like the way the renovations (which should have be done for their son's comfort ONLY) made their house look, and decided to go overboard with all these extras. Now they want someone else to pay for it!

My appliances are all over 16 years old, definitely outdated, but we make do. They work. On a painter's salary and just one income, these people should have known better.

They do sound like wonderful parents, who perhaps thought that with all the hard work put into caring for their son 24/7, that they deserved something for themselves, like a big house with a few extra luxuries. The sad fact is that they can't afford it!!

It is indeed heartbreaking. However, since their son is 28 years old, he qualifies for medicaid and all sorts of benefits that would include the modification of their home to accommodate their son's disabilities. There is nothing wrong or dishonorable in their applying for help from the govt. They've done an amazing job taking care of him and they just need some help.

A truly heartbreaking story. However, why couldn't they have sold the house and walked away with a clean $200k back in the day? They could have lived in a much larger and newer house for much less than that in middle america. Montana, for instance (near adequate medical facilities, of course). Everyone wants to live in the best area possible. Sometimes you need to downgrade your surroundings to make your life easier.

I have credit, I realize it for what it is, not my money, do I feel sorry for these people, nope

Has anyone here ever taken micro- and macroeconomics courses? Have you heard of the laws of supply and demand an credit markets? Do you realize that companies employ highly paid workers whose job it is too create demand, so that the business will survive? Is simple to say, Don't charge. But do you realize that our economy runs on credit? Businesses would have little incentive to develop or invent anything, if they have to depend only on people spending their $30,000/yrly paycheck.

The truth is this: People have to live somewhere. This mortgage mess is not just impacting homeowners; it is impacting renters as well. Had most of those people had not taken out mortgages to begin with, the economy would have been flat and rents would be even higher. Poor people rent!

Telling people to just move to lower priced areas is no solution. Oregonians and Nevadans can tell you how much they hate Californians who move to those areas because they are cheaper, only to cause an increase in prices. Moving just puts pressures on new areas. Further, I know from experience that moving oftentimes doesn't save money. I've live in California, Florida, Georgia, and Illinois. Unfortunately, I'm disabled. The medical benefits I receive just changes from state to state. Because of medical bills, the least expensive place I've lived is San Francisco, becaus I was so poor there that all of my medical bills were covered. When I moved to cheaper areas, the rents went down, but my share of the medical bills increase significantly and I sometimes was burdened with the costs of owning a car, since I was no longer living in a major city. Further, my disability makes me a dangerous driver. So I moved back to a major city.

I went to credit counseling. After 2 minutes, the counselor told me that my problem is that I just don't have enough money to live, period. She didn't see where I was simply being irresponsible. There's a good chance that other people, working or disabled, are in the same boat.

The homeowners should be bailed out, partly to help keep rents affordable and partly because if we can use taxpayer money to bailout corporations, we can use it to bailout the little guy. Frankly, I think all of the bail out money should be returned to the taxpayers. Having an extra $5,0000 to $10,000 to spend would jumpstart the economy, too. Anyway, companies have treated consumers so badly that it's a disgrace that they are asking for bail outs.

At least they admit that they didn't know what they were doing when they re-financed. Of course they go on to try to cast some blame on the banks and so on. Put the blame where it belongs - on an education system that fails to educate. Had these people been taught basic finance skills instead of touchy-feely feel good junk in our government run schools they might have had the sense not to over-extend themselves.

While I feel sorry for these folks, especially due to their son's medical problems and because I, too, am disabled, Amercians are seeing this scenario and ones like it over and over again. People want too much house for too little income. They want to continue to use their credit cards when they should be cutting them up and not spending on anything but the bare necessities of life. This is what the rest of the middle class -the ones who made responsible choices and the ones who are bailing out everyone else- have been doing and continue to do. People need to STOP SPENDING MONEY THEY DON'T HAVE.

The nonly reason Countrywide is discussing this family's plight is because the now have national bad publicity NOT because they understand their problem

They brought it on themselves by spending more money than they had. They should've been even more cautious because they had a child with a progressive illness and medical expenses. Just because someone will let you borrow money doesn't mean it is a good idea. If you had to get an ARM to get the loan then that was a red flag it was too much for their financial situation.
I'm getting tired of people expecting help for their bad decisions. Sell the house and get a handicap accessible apartment that you can afford.

People who bought houses 25-30 years ago should be thanking their lucky stars. Times have changed. The cost of housing has. Mortgages are structured much differently than in the past. Capitalism thrives on credit. Had many people not have bought mortgages during the past 5-10 years, the economy just would have sunk sooner.

Furhter, this mortgage crises is putting pressure on rents. Something which people like me must depend o.

Stop the assinine suggestions that people move to cheaper sttes. All moving does is put pressure on another region of the country.

"And you obviously don't understand home values in the Northeast."

Like everywhere else in the country, they were vastly inflated, and now they're falling like rocks. It doesn't matter where you live -- BUY A HOUSE YOU CAN AFFORD, or you're an idiot, and the rest of us? Aren't willing to bail your dumb self out Having a handicapped kid isn't a free pass to overextend yourself, it's all the more reason to buy without in your means.

I purposely bought a house 23 years ago within my means in New Jersey. An 80 yr old house that needed -and still does-- a lot of work. I'm a single parent, underemployed with two jobs and would LOVE to be bailed out. My mortgage is low, thank God, but I can still pay it (barely) and the taxes and the insurance and all other bills I am responsible for. Yes it is sad about their son, but personal responsibility needs to be addressed in this situation.