When Obama first announced his housing plan, he emphasized repeatedly that his plan was designed to help people who had acted responsibly in regards to their home ownership, while not helping people who had been irresponsible or taken advantage of the mortgage situation. In fact, during a speech, Obama specifically stated that “It will not rescue the unscrupulous or irresponsible.” He also said that “And it will not reward folks who bought homes they knew from the beginning they would never be able to afford.”

Although Obama can be very persuasive when giving a speech, there are still plenty of people who are very skeptical about this plan. One issue that has been raised by multiple people is how people who took out reasonable mortgages but later lost their jobs will be helped. The reason these people are skeptical about the type of help that this plan will actually provide is because they say that people with no current income won’t receive any help from banks. Although they may help couples where one person still has their job but the other has lost theirs, that doesn’t mean that they have ever been known to help those with zero income.

The reality of the situation is that while Obama can lay out the details of his plan and others can speculate about whether or not it is really going to work, only time is going to tell if this plan is going to be able to have the positive impact that Obama and others have stated it is going to have.