I think that the government should help people in underwater things ok and yes I think that we should have the government help the people of underwater mortgages ok ok and yes I think that we should have the government do more to help people with underwater mortgage ok 👌
The U.S. government should do more to help people with underwater mortgages. This is because the system that let people buy mortgages en masse also let them down. There were so many citizens in this mess that a mass scale change had to be made to help the affected homeowners.
There are plenty of people who have been effected negatively by the housing crisis, which was caused by predatory lending and Wall Street Speculation. The economy remains sour, in spite of claims of recovery, and there are large numbers of both vacant houses and homeless people. Instead of giving relief to the wealthy criminals on Wall Street, the US government should be helping out people who are just trying to make ends meet.
Although I empathize with those who hold underwater mortgages, my belief is government, through its Community Reinvestment Act, was the major contributor to this problem. This law, although its intentions were grounded in "equality for all" -- placed stringent lending policies on banking institutions. These institututions were "encouraged" -- really forced -- to lend to the regular guy, the minority, the low-income, even if they could not prove their economic viability. Ronald Reagan was right: "Government is not the answer. Government is the problem." (paraphrased here) Government needs to STAY OUT of the housing market...the sooner, the better.
Individuals with underwater mortgages are in an unfortunate state and the mistake that they made was one that came with this risk. As unfortunate as it may be to lose value on your home, or value of your investments, one cannot live risk-free. Individuals who are underwater must make efforts to mitigate their damage and move forward, but policies or precedents of saying "We will protect you from risky investments" will only breed those who assure themselves that there is no risk in further actions.
I do not believe the U.S. government should do more to help people with underwater mortgages. I believe these people purchased property that they couldn't logically afford. I do not think the government should help these people because they made their choices to spend above and beyond their means. I don't think we should all have to pay for their mistake.