I have the perfect way to help these poor, beleagered debtors out of this mess that everyone else except for themselves has created. Its simple… the relief they should get is, they won’t be thrown in jail for mortgage fraud. Beyond that, get the heck out of that house which you can’t afford, and go back to renting, like you did for the past 15 years. Work those two jobs, take on a roomate, and save up some money, and do things they way the rest of the world does. I see people all the time working two jobs, living ten to a house, saving every penny, just to start a business, so that some day they can afford to buy a nice house and live the American Dream. My wife works two jobs, her second one is an hour away, just so we can try to save for a down payment for when the pricing returns to sanity levels. These idiots thought they found a shortcut, didn’t they? There are no shortcuts to good old fashioned hard work, is there?
Seriously, I have a hard time figuring out who’s more to blame for these situations. The mortgage companies and brokers who obviously sold mortgages to unqualified buyers that they KNEW would not be able to afford them… or the people who actually purchased these houses that they KNEW they couldn’t afford. I refuse to accept the “I didn’t know” excuse! It’s BS!
This is nothing more than a gamble gone bad, and now some schmucks want to bail them out. I say, heck no!
