Nevada Representative Joe Heck has introduced a new bill in congress that would give homeowners who have gone through foreclosure a second chance at buying a house. Heck's Second Chance at Homeownership Act would provide insured loans to individuals who have previously been foreclosed. Rep Joe Heck joins us to talk about his plan to give some Nevadans a second chance at home ownership.
People who lost their homes lost them precisely because they made bought too much house, took on too much risk, etc., i.e. they are by definition poor investors and thus bad credit risks compared to those who did not lose their homes. Fairness, justice and basic economics demand that they be treated accordingly, NOT subsidized! This is just Joe Heck pandering and in essence buying votes for the upcoming elections!Tim Hunt –Mar 12, 2012 17:45:25 PM
Why does the person still in their house making payments on time not receive any help?Margaret Wilson –Mar 12, 2012 09:24:32 AM
They don't care about those that are making their payments on time!!! Joe Heck is just another cog in the system!Jerome –Mar 12, 2012 11:04:41 AM
WHY CAN'T THIS BE A DUAL PLAN WHICH INCLUDES HOMEOWNERS THAT HAVE STAYED CURRENT WITH THEIR MORTGAGES AND THRU NO FAULT OF THEIR OWN SEEN THEIR EQUITY DROP, WE NEED PRINCIPLE REDUCED TO CURRENT MARKET RATES BEFORE HELPING PEOPLE THAT HAVE PREVIOUSLY DEFAULTED...WHICH STARTED THE FREE FALL OF FORECLOSURES IN THE FIRST PLACE. THIS IS FAIR AND EQUITABLE.STEVE CHAREM –Mar 12, 2012 09:23:03 AM