Will the foreclosure bill help anyone?

Question

The loan had to be between 2005 and 2007. I qualify

You must ask for a modification now. I've moved and the bank owns the house.

The problem was the mortgage company had a clause that if you miss 1 payment they put you in foreclosure and pay and addition $5000.

Stopping this would have kept me in my house. If I could have just repaid the missed payment as I had done for 20 years in my previouse home and with my previous loan.

Answer 1

It will help many people who never should have purchased a house in the first place because they couldn't afford it.

So now in effect taxpayers and people who are actually keeping up with their mortgage payments will be paying for deadbeats who couldn't.

Answer 2

it will help the USA go into more debt, it will help the economy collapse when the line of credit runs out, and the more we print the less it is really worth.