How about offering NO BAIL OUTS to high risk borrowers who want to have their cake and eat it, too.

They financed at a lower initial rate in order to spend more money up front on other stuff--with full knowledge that their rate would go up later. They knew they would have to either eat the higher rate or re-finance later on.

Now these idiots are whining that their house payments are going up and they can’t get by. Well, SHUT UP and manage your finances better. Save more and spend less. You should have locked into a fixed rate mortgage and bought a smaller SUV, or no boat, or avoided whatever useless luxury you felt you needed more than a secure financial future for your family. IRRESPONSIBLE borrowers should be accountable for their own decisions when they sign a contract.

What's the big deal about him giving out the wrong number?His whole life has been a wrong number.

Why shouldn't folks overspend, the Bush govt. does it. We pay taxes to destroy bridges in Iraq, and pay taxes to build bridges in Iraq. That makes sense. Iraq in the top three with corruption, thus, our tax dollars continue to fund the corruption. What the folks who already had a foreclosure? What happened to the free enterprise system? They are simple trying to protect the banks for massive losses and bank runs.

Here is the crazy part-- my household income is 190K per year. Our mortgage payment is $3250, adjustable. We have credit scores in the 700's. We were plannning on and perfectly fine with our adjustable rising in 5/2008-- in fact, we were going to refi into a fixed loan. However, I just called my service provider-- guess what, I qualify for interest rate freeze-- so now I keep paying what we are paying, skip the costs of refi. Have to love the government programs. Best part is, I live in a market (Portland) that is still appreciating.

There's a housing development near my apartment. I think at least half of the houses have had multiple owners in the four years since they went up.

WHY DOES THIS NOT SURPRISE ME?

I wouldn't expect anything less stupid from him! The even funnier part is that he is actually running a country!!!

Which is worse 8 years of him or living in a mess for the next 20+ years because there were millions of people that were just as stupid as him, enough to vote for him 2 x's?

This is for "no welfare". You don't know what happened to those folks. With the way this country is, you don't know who'll be the next on in trouble. If it's you NW, you better hope someone has a program for you. Keep on being mean and ugly, God may have something special for people like you.

Everybody's forgetting one thing, Pres. Bush is the one who in 2001 wanted to have "every American in a home". He made it easy to get these loans and who made the real money off this mess? The Feds must have created 200 types of loans, relaxed rules and allowed all the folks who may not have deserved (credit wise) to get a home.

As a certifiable MORON with a subprime mortgage, I'd like to thank our beloved president (one of my kind of people!) for saving me tens of thousands of dollars in mortgage payments. I can now use the money I save with my extended 2% teaser rate to play the lotto, get more booze and drugs and maybe even buy that 52" flat-panel HD TV I've always wanted.

Too bad for you suc'kers that have to pay full price on your mortgage. But if any of you financially responsible, high-IQ-types are having money trouble, just stop by - maybe I can loan you some of my savings at 20%!

Ha, ha, ha, ha....

That's why we should absolutely never ever remotely even consider bailing out any bank, savings and loan, mortgage company, or other lender.

Look at these lenders - they have lawyers, accountants, actuaries, statisticians, and other HIGHLY educated employees by the tens of thousands. On top of that they've been lending and monitoring and tracking and predicting and keeping records for well over one hundred years.

You can certainly blame the borrowers for overextending themselves, but the liability belongs to the lenders that absolutely knew better. They are the ones that looked the other way, preyed on people's ignorance and dreams, and encouraged fiscal irresponsibility to make a profit.

As stupid as Bush's middle class/upper middle class mortgage bail-out plan is.....the Democrats will cry that it is still not enough.

And all of us will pay higher mortgage rates to cover the costs/risks that are being passed over from outstanding adjustable rate mortgages that are suddenly not adjustable.

The same sentiment goes for creditors who loaned out money to higher risk borrowers. They, too, should feel the pain for pushing out high interest money too easily. NOT the taxpayers.

Of course, once again, it wasn't Dumbya's fault. The number provided to him came from the US intelligence community after a careful and thorough study and analysis using all available intelligence sources.
The final number was approved and signed-off by Never-Wrong Cheney.

I just cannot believe Bush lasted through 2 terms. Dick and Bush - what a combo.

I swear Bush just comfirmed to me that he has a lot in common with two marbles rolling around in a can . And the scariest part is this man is running this country .

No Welfare you are so negative and totally blind to the real problem here. I am a hard working American that is putting a wife through nursing school and myself through my second degree on one income. I also am raising two beautiful children. My wife has no time to work, so that is the way it is.

The lender, the broker and the appraiser all worked together on my refinance to lock me into a predatory loan that also had a binding arbitration note in it that leaves us unable to even fight back. Basically I corporation, with care only for money got me with my guard down to sign away my most important rights given to me by the Constitution. How is it possible that a document can be slipped into my paperwork that somehow is gives a corporation the right to break the law on my signature?

I'm not sure, but with your attitude, you are probably wealthy, conservative, and forgot that it's people like me that make the company I work for hundreds of thousands a year in profits, yet I still scrape by. God bless America all the same and shame on anyone who talks down about their fellow countryman.

I don't agree with some of these posters .. I make darn good money and still struggle to make my housepayment . Why .. well for starters the cost of living has gone way up , the price at the pump is killing me and the grocery store prices are way too hight too . Everything has gone up . Sometimes the responsible are still losing thier homes it's just not low lifes who got themselves into a bad choice . Those that say people should have known better now they should reap what they sow ..... well you must be rich ,, well here is an eyeopener for ya .. not everybody is rich , and honest people do infact struggle , and so do a lot of other catagories .

anybody with a credit score of over 660 does NOT qualify for the freeze... lets not tell little stories here

The very least the government can do is allow the interest and capital gains we financially responsible folks earn be tax free. I, along with many others, am tired of "bailing out" financially irresponsible people.

aegno1, ofcourse they qualifiy for the freeze that's where Bush's dumb idea kicks in . See if your credit score is high and you are still stuggle with your house payment they will just want you to get an equity line of credit, or refinance with the home with the same bank ,, either way the client is trapped and enslaved to the bank for atleast 15 yrs . It's all just sick and low down dirty .