Page 15 - Negative Equity News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Reports 2 million california homes were under water in the first quarter of this year the highest rate in the nation. and nearly one thirds of the state's mortgages. william la jeunesse is live in los angeles. william, the feds have a program it to help these folks but taxpayers are getting stuck with the whole bill. right, shepard much the federal government gave 19 hard-hit states which included california, $8 billion. specifically to help homeowners with negative equity. and since many were to blame housing crisis. president obama said everyone would share in the cost. banks would pay auto%...

Paying my mortgage all these years. wife am i bailing out these people who made a bad definition >> in april, they criticized treasury department to require banks to participate and required 8 billion to 19 states hardest hit by the housing crisis. most states including fannie and freddie refuse to pay $100% of homeowners' negative equity and it encourages some to abuse the program because someone else picked up the tab. >> john: william la jeunesse in los angeles. william, thanks. a member of congress leighs nothing to the imagination. in a famous spiritual site. that's coming up later in t...

You housing market? that's the flip side. e-mac, explain this one. >> yes, it's bad because look, about 11 to 12 million homes are in negative equity. meaning that's 25% of all mortgages out there that are tipping, and there's he a-- basically a big fat inventory of homes set to be defaulting or delinquent. i propose a new green job program, rehab and refurbish dilapidated old homes and that's how air going to get job creation in this country because we have a problem of suburban poverty right now from these derelict homes that are not being taken care of. >> morgan, are we supposed to get dep...

Value, but the idea, can you start to clear out the market because it's overpriced. during the light of the crisis people were saying let's get the bulldozers out. is this really as bad as toby and gary b are making it out, jonas? >> well, when you hear the words eminent domain, it's scary because especially because-- but i will say some of the areas are so underwater, and so much negative equity in the homes in las vegas and southern california there's almost no solution in this, and not to force the hand of any lenders who want a piece of that mortgage and what's going to happen, they'll be ...

And clearly worker training is an area where the president is working with the private sector to try to make up for some of those reductions. but one of the things that's important about -- you talk about job creation, home equity is one of the places where people really get the money to start businesses around the country. it's critical not just for sending your kids to college, saving for retirement, but a lot of small businesses are started through home equity. and so one of the things that we are pushing very hard on is making sure that we start to reduce the negative equity that folks hav...