Obama says housing help just for ‘responsible’ homeowners

February 18, 2009

MESA, Ariz. – Memo to U.S. homeowners who bought places they couldn’t really afford: don’t expect assistance from President Barack Obama.  

 Obama unveiled a housing plan on Wednesday that aims to stem home foreclosures and draw a line under a problem that sparked the nation’s financial crisis. 

But the assistance the president outlined had a caveat – only “responsible” homeowners need apply. 

 “I want to be very clear about what this plan will not do: It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans,” Obama told an excited crowd in Arizona, the home of his former presidential rival, Republican John McCain, and a state that has been especially hard hit by the housing crisis. 

 “It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell,” he continued. 

 “And it will not reward folks who bought homes they knew from the beginning they would never be able to afford.”

For more Reuters political news, click here.

-Photo credit: Reuters/Joshua Lott. (Obama speaks in Mesa, Arizona, Feb. 18, 2009)


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in california were i live every person illegal or otherwise will get a bill out,provided they are assumed to be potential democratic voters.like most of the predictions socialism is on the march.

Posted by brian lee | Report as abusive

I live in North Carolina and have been laid off twice in the last 3 years. It has been a struggle, but have continued to make my mortgage payment every month. I guess that makes me a “responsible” homeowner. Obama can keep his bailout – I don’t want it. I pay my own bills. Save it for GM and Chrysler and the UAW. There are campaign funding IOUs that still need to be paid.

Posted by Margaret Johnson | Report as abusive

wonderful development ,acorn pressured barney frank and cris dodd to make loans available through fannie and freddie to people that could never afford them ,now we hear acorn is going to act as vigilanties to stop people from being evicted.why not stop the charade and give acorn a bunch of money like what they were receiving during the election ,and just dish it out as they think necessary,these are wonderful times ,mana from heaven.just like obama campaigned money for every body.

Posted by brian lee | Report as abusive

Oh come on! Are you saying that you will specifically decline tax credits and deductions that might be, directly or indirectly, connected with the housing plan the White House is proposing? People are such hypocrites.
And, by the way, socialists round the world would be (no, make it are) deeply offended by being, in the most simplistic way, put on the same level as a government (any government) led stimulus, okay, bailout plan.
The really disturbing thing is that many who are vocal in their anti “socialism” now, saw no problem with the government listening in on their (or rather other people’s?) phone and email communications.
(Did I mention people are such hypocrites?)
P.S. The word socialism is NOT a synonym for “the big reaper”, “omg we will all starve”, etc.

Posted by Laz | Report as abusive

are you trying to educate me about socialism laz?i carry a card saying i was one, paid subscriptions every month to keep it up to date ,bit like a union card with out the life time medical benefits.i am against it because i saw it close down auto companies,steel works,ship yards,etc. how they managed to do it?it was called nationalization,a word that i have started to hear quite a lot in recent weeks.

Posted by brian lee | Report as abusive

this guy is all about change,as criticism shows up ,the plan changes.the original plan was for the people who were in foreclosure to get help ,the latest announcement every house owner is going to get an incentive,4%interest rate.perhaps the next proposal, you can buy a house nothing down, and like what they do now in car sales, money back in your hand,and a free vacation thrown in.

Posted by bria lee | Report as abusive