Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.
If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?
