All government efforts will do is increase defaults.
If you give people facing foreclosure money and resources to pay less for their house than they signed a contract for, why would people paying on time continue to do so?
I can see the headlines 3 months from now:
"Foreclosure Fraud – Homeowners are increasingly "faking" financial difficulty to qualify for bailout programs designed for people much dumber than them."
yes. yes. but it's getting to the point, it's starting to take the rest of us more responsible down with everyone else. Anyone else starting to feel this is going to be a huge problem for the rest of us as well???
