What's the best way to help homeowners who are having trouble paying their mortgages?

isnt really to make sure they have a job here in the USA so that they can pay for their mortgage on their house here in the USA?





Even if someone's house goes down in value by 20-40% that alone does not make them unable to pay their mortgage........for the most part and in most of these troubled mortgage situtations, the lack of good jobs that pay well is the real problem. who agrees?What's the best way to help homeowners who are having trouble paying their mortgages?
The APR rate skyrocketed, and those who probably would never own a house otherwise couldn't afford their mortgage.What's the best way to help homeowners who are having trouble paying their mortgages?
I for one think the main cause of the housing trouble is due to higher than normal debt to income ratios. What needs to be done is all of these people who can not pay for their debts should file for bankruptcy protection and wipe the debts clean. It has little to do with jobs since most of these people were in trouble before they were unemployed.
I agree that many people are losing their homes due to losing their jobs but also due to predatory lending practices which have the mortgage interest rates suddenly balloon with people unable to refinance.





Help with refinancing or changing the mortgage terms would also help.
hummmm...I think real problem has something to do w/ the Federal Reserve System playing with interest rates, counterfeiting our currency and steeling our wealth. who agrees?
Too late to worry or care. America is headed for a severe Depression....you can thank Bush.
I liked Gohmert's plan.


http://gohmert.house.gov/Article.aspx?Ne鈥?/a>


This would help them short term to get back on their feet.





I disagree that jobs are the main issue. When we bought our home, we decided to finance only 50% of what the bank said we could finance or less. We did this because we know that either of us could lose our jobs within the next 30 years (the length of the loan). Yes, we could have decided to buy a larger, newer house in a better neighborhood but we chose to live below our means.





We're grateful now because my company closed and we are down to only one income. However, many of my co-workers didn't make the frugal decision that we did. They bought those more expensive houses and now are losing them.





Yes, a slow economy is part of the problem. But personal responsibility cannot be ignored. Lack of work is the reason for some foreclosures but not all. People knowingly took out loans that had balloon payments that would be due in the future. Some people got caught when flipping houses and lost in the gamble. Still others chose to take out loans knowing that it would take everything they had to pay the mortgage and even the slightest bump in their pay would make them late on a payment (I personally know three people who did this).





More jobs would help but people need to live below their means and save for a rainy day when things are good.