Unemployment & foreclosures: 11 million Americans behind on mortgages

Many homeowners from the Justice of their houses and'd splurged on luxury, new cars, RVS, and exotic vacations, causing them to fall behind on their mortgage first payments. This resulted in default and foreclosures later. Add to that a very large number of homeowners who received the approval of credit when they shouldn't have, and high unemployment, depriving people of their regular income and a sad picture.

Now the Obama administration has taken steps foreclosure prevention, what many consider to be unfair to taxpayers who end up footing the Bill.

Now New FED rewards all homeowners

New prevention goes much further than simply helps those who are behind on their mortgages. it would be obvious to help those who have fallen as a result of an illness or job loss. However, some believe that there is a need to investigate why someone is lagging behind. Homeowner being behind in their payments, there should be no justifiable reason to get a Government crisis.

Seven million American homeowners now behind their payments to some extent. These are the people who would benefit from a new program, without anyone determine how and why they are there. Furthermore, the proposed programme goes far beyond that. New FED tries to rescue 11 millions of homeowners who are simply "under water" means that their home is now worth less than their mortgage debt and that they lost money on their home investment. This is exactly how foreign investors who lost money on Wall Street.

Lucky may wait for a crisis

The new program is designed for adjustment of mortgages for the 11 million troubled homeowners, adjusting their mortgages given current market conditions, or the House stands at present.It is expected that when house price rises, they will get what's basically free money.The new program also raises $ 3000 Bonus for people who do not go into foreclosure, but instead to sell their homes.

These programs are voluntary. Former Treasury Secretary Paulson forced "good banks" borrow money to cover for the banks that do not have sufficient liquidity. the same pressure can be easily applied to creditors today to make them conform to the new programme designed to reduce mortgage loans.

Relations prevailing government seems to be that anything that interferes foreclosures more mass is good and should take precedent over the reasons why: for the economy, they can be correctly but the people who made the mistake of trying to live beyond their means, in homes they couldn't afford to do will make the same mistake in the coming years? "only time will tell!