Raising the roof on mortgage aid

Re “Who should get mortgage aid?” April 7

Democrats should be ashamed of themselves. They claim to represent the working class, yet they advocate programs that will literally subsidize inflated home values. This serves the dual purpose of rewarding cheaters and punishing those who were responsible. Letting prices fall back to their natural levels before this Ponzi scheme started would help millions instead of the relatively few a bailout would serve. Responsible workers would be more able to afford a home instead of being trapped with escalating rents that make it harder to save for a down payment.

Further, if this legislation passes, how will any level of government justify “affordable housing” programs? While we’re busy using tax dollars to keep prices artificially high, we’re also supposed to use tax dollars to subsidize the purchase of homes for lower-income people because prices are too high? Are you kidding me?

Dale Ma

Sherman Oaks

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The Senate rejected an amendment that would have empowered bankruptcy judges to reduce mortgage payments for homeowners facing foreclosure. The Senate has rejected the most powerful tool available to halt the avalanche of foreclosures. It has turned its back on American families in their darkest hours. Instead, the Senate is preparing to provide billions of dollars in tax breaks and subsidies to buyers of foreclosed properties, ensuring maximum revenues to the predatory lenders that caused this crisis.

Is it any wonder that Congress’ approval ratings continue to plummet?

Michael W. Boggs

Los Angeles

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Let’s get our semantics correct. The people living in homes are occupiers and buyers, not owners. The financial institutions that lent money hold the deeds. Those who made small or no down payments have little or nothing to lose. They pay the equivalent of rent but, unlike renters, receive a tax deduction. Those who scrimped and saved to make a substantial down payment should not be paying taxes to bail out those who chose to take on a risk. It is not fair to burden the frugal with the cost of others’ poor judgment.

Don Martin

Santa Ana