I suggest for the administration to leave this matter alone. This administration and all it's worthless economic savants are not fit to solve this issue. Leave it to the market and business to handle this situation. It will be bloody but in the end it will serve it's purpose of No pain No gain.

Inserting a political solution will not just make it bloody but it would be a massacre. Use the funds somewhere else where it is needed to create jobs, help emerging business ventures not existing big corporations and banks. Use the banks to make them capable of loaning money to new emerging feasible business ventures at a very low interest rates to enhance bank growth and not dole out money so they can again use it to bolster their bonuses.

Make this institutions work for the money instead of letting them sit on their ass in their comfortable conference room chairs making schedules as to how to allocate government funds towards their own deposit accounts.

Hope and Change!.....Change we can believe In!.....Yes we can!.....and my fav......Summer of Recovery 2010!!!!....and no incumbant ever survived a reelection with Unemployment above 7.2% since WWII!!!!!!...just to name a few reasons as to why Obama is TOAST on 11/6/12!

Is this another stimulus program dressed in sheeps clothing to get the President reelected?

As we near the election, what else will this President do to appear engaged?

I'm sick and tired of this clown issuing royal decrees, by-passing the Congress and the U.S. Constitution. When is someone going to say enough is enough and put an end to his dictatorship? Forget the 2012 election. Impeachment is warranted, now.

I hope an pray this new initiative put forth on home mortgages should have happened years ago. It's common sense to me. My husband and I tried to refinance recently and the process was so convoluted we just stopped. We're current with all bills, excellent credit score; we only want to lower our mortgage. If this goes through, it will put a lot of money back into the economy.

Forget the GOP, they've become useless. They aren't even trying anymore. All they want to do is act like children and oppose the president like they're in a school yard. WTF? So disappointing.

Here is a very simple way to help those who are having trouble with their mortgages, SUSPEND PROPERTY TAX PAYMENTS !!

It's not the mortgage stupid, its the taxes that go with them !!!

The president keeps saying that homeowners are underwatwer due to no fault of their own. If he truley believes this, he would make as eligibility requirements that the homeowner had to initially put at least 20% of the purchase price down and that they have never removed equity from the house by refinancing. Eligibility would be narrowed to those who are underwater due to no fault of their own. The rest of the people where just trying to take advantage of low rates and minimial or no underwriting and make a bad bet. The US citizens should not have to pay for bad bets. This is a very good example why voters cannot give Obama four more years.

The way I understand it is if he can't get anything through the democratic controlled senate (think it was Reid who tabled the pass it now jobs act cause he wanted to include a tax the rich line item to it), then the Pres will take executive action. Best advice to him is for him to take all his ideas and throw them in a huge toilet and flush them down the tubes. This guy is dangerous because he refuses to listen, not only to the American people but to his own Democratic Senate. Fire them all and let's start all over again.

The two talking heads(Obama and Biden) are driving me to drink. If re-elected(very doubtful) I'm moving to another country and taking my company!!!!

MP-500299 - I think Obama will get re-elected. Obviously not because of his record or handling of the economy. He'll get re-elected for the same reason he got elected in the first place. The GOP doesn't have a credible candidate. Last time around they came up with a dinosaur like McCain and teamed him with a little known and little respected Palin. This time around? Romney. There was a poll conducted in my area and 41% of the people polled said they would not vote for a Mormon (population of the area is over 2 million). For all that Romney appears to be a good man and a successful business man I think people will consider his faith when they vote. Perry? He can't wait to shoot himself in the foot. It's the one thing he's good at. The rest of the field. They resemble a circus clown act. They just need some big shoes, red noses, and a little car to cram themselves in. So in my humble opinion MP, you might want to get some boxes together and start packing. I think people on election day will go with the evil they known rather than the evil they don't know. Four more years of Obama.

I cannot guarantee very much in this life; but what I can absolutely, positively assure everyone is that in the event that the president, the Congress and the various state attorneys general currently suing Bank of America, Wells Fargo and other large, multi-state mortgage lenders do not hold the executives of these companies accountable, de jure, for the damage that they have done to our economy, they most certainly will be held accountable, de facto by any means necessary. This includes an armed revolt, with its attendant violence and bloodshed. I am incensed that these banks were able to get wawy with privatizing their profits and socializing their losses via the forced largese of the American taxpayer. They then told these same taxpayers to go pound sand when it came to offering any relief in the form of lower interest rates or principal write-downs. The Congress, in its chain-driven panic to pass the financial bailout legislation somehow missed including a concomitant requirement that the banks offer relief to their mortgage customers as a condition of the nearly $1 trillion capital infusion they received. In the words of the La Eme gangster, J. D. in the film, American Me, "It's going to happen."

Obama blames the republicans in the House and the Senate as the bottleneck to his proposals. (He neglects to mention the lack of support from his own Party.) However, the last time I looked at a bottle, the neck was at the top. So who is the bottleneck?

Obama campaigned as one who could unite the country, yet it is always his way or the highway. O(ne) B(ig) A(ss) M(istake) A(merica), and it is time to correct it.

At the moment, and it pains me considerably to say this, Obama will probably be re-elected. Even though he has done NOTHING to warrant it. He is a very good reader of somebody else's notes. He seldom takes question off the cuff and on those few occasions when he does...the man simply can't speak. Sadly Herman Cain won't be elected because he is a black man who dares to be a republican. Therefore he's toast. Ask Barbara Walters? Nothing is going to change until we get rid of the crooks in Congress. Congress makes the rules involving domestic laws. The President can only suggest. If you really think about it. The only thing that has changed in DC is the president and yet we are deeper and deeper in trouble. We need either term limits for Congress or get the balls to vote them ALL out! Congress is the trouble not the president. That being said, I am still verry much afraid of this president...he says he wants to bypass congress...that my friends is what a dictator does and he is using his ability as an orator to do it... and I'm afraid that we the people are taking the bait, hook, line and sinker...

The Bungling Democrats are the reason why the mortgage mess is dragging on and on and on.

If we had allowed those who couldn't afford their mortgage payments to go bankrupt in 2008 and 2009, the market would have hit the bottom and we would be on the way back up by now.

By keeping people who are over their heads in their homes we are dragging this out endlessly.

This is what Democratic economic policy always does, it tries to make the pain a little less in the short run, but the tradeoff is that it's much worse in the long run, whether it's worse economic times later or more debt to pay off down the road or both.

If the government had stayed the h out of housing, the housing market would be a year or more into a rebound.

Housing prices got overvalued and were rising at ridiculous rates that were not realistic and not in line with the actual improvements in the economy. People who did not qualify for these overpriced houses were getting into them, either through lying shamelessly about their income or with mortgage company collusion or both.

All this set us up for a major correction to get housing prices back down which we got, but we're not letting it run its course like we should have.

The young couples on the side lines who didn't quite qualify in 2008 for a home loan would have qualified in 2009 if we had let the housing market collapse as much as it needed to, and let all the people who couldn't afford their payments to go bankrupt.

Housing prices would have declined very very low until all the people who were sidelined before because their income was too low, suddenly could afford to buy, and suddenly did qualify because houses were $100,000 less or even more than they were before.

Once those people on the sidelines who couldn't afford it before now can afford it, that's the bottom of the housing crash, and we build straight up from there.

The government assisting people who can't pay on their own, or who for some reason we're deciding won't be able to pay in the future, will prolong the agony.

All the pain in housing should have ended in 2008 and 2009, except for bad, bungling Democrat big government policy.

At this rate, a bad housing market might extend through 2020.

The government has nothing to do with you paying your bills. That's up to you.

Obama is three years late and many dollars short. Clearly another political move to try and get re-elected.

The Obama helps people and his re-election will allow him to help more people.

That's the only reason he is campaigning now - solely so he can help more people.

The Obama is just that kind of guy. A giver.

America has had enough with Obama. He lost us the war in Iraq. We have no military bases in Libya. How are we going to spread the christian religion in these countries now Obama? What were you thinking? We will stop the gays in the military from getting married. We will end all abortions, so women will have no right to choose. This is america. We will control you, you must obey. USA USA USA GOP GOP GOP america!