San Diego-
I did mean the government bail out as a joke. I do admire you for trying to make the most rational descion based on the reality of your situation. Unlike folks whose first reaction is to demand help from someone else.

But I would not be surprised to see the current “rate freeze” proposal move up market to folks who got those stupid option ARMs- many of your neighbors. You, of course, would get punished for buying with a more responsible loan.