[quote=picpoule]Remember Obama called for a “Responsibility Era?” We’re all suckers now.[/quote]

Yup. The lesson truly is buy a house you can’t afford, default, ask for a temporary pay cut at work and restructure.

I hope you’re right FSD, but you can see how this will be wrought with as much fraud as there was on the way up.

My only hope is the term responsible they threw in there. Buying a $600k house on a $60k income with an i/o option arm isn’t responsible.

Then again, neither is people who can’t balance a budget rewarding people who can’t live within their means.