Wow - What do the folks who actually read the terms of their mortgage and made their payments - even when it was hard - get for their trouble? Nothing.

Capri , not everyone is irresponsible. I am not . The reason I am stuggleing is because my value went up double on my home and so did my taxes . That does'nt make me irresponsible because i'm stuggleing . I had not planned for that to happen when I bought my house 7 years ago. And you have to figure that unless a person is rich they will not understand what a lot of us going through . I have to admitt my family did'nt have one money issue to worry about until after the war started when the price everything started going up . And I know I am not alone .

Last time I checked we all live in the same country. Shouldn't we be working together to make this country greater. Unfortunately yes people got into arms (2,3,5 or 7) that either could only get that or assumed that the market would get better. We are at a time that if, we as a country do not stick together. Then anyone can come in and pull us apart. We are all americans no matter race,gender or class. It is really sad to see how people react only for themselves and dont care about others.

He made a mistake guys, chill out. I'm sure none of you guys have ever made an accident like messing up a phone number.

Also, I'm by no means a Bush supporter, but the 'O MY GOD HEZ RUNIN THE COUNTREE' comments are just idiotic.

The Ironymeter goes to 11 !

Probably forgot his radio backpack, and actually had to read.

Do something right for once please....

The problem is that this is totally unfair to people who took out 30 year fixed loans. Can we have our rates adjusted to 2% teasers for a few years too? I think we should start a class action law suit and make that happen.

It's even worse for people in markets like California, who were responsible enough to realize they couldn't afford a house. Now I guess they're locked out forever.

I don't think everyone that took a "teaser" loan is an idiot. BUT you did accept a higher risk in return for a lower rate. The risk turned out bad. That's life and it is your responsibility.

I don't see why those of us who've paid higher rates should be penalized. I'm going to be really mad if I have to pay one penny of tax money for this!

Its ashame for anyone to loose their home but where is the personal responsiblity? Just because you are approved for something does not mean that you should go for it. Im not sure if this is true, but some one posted that people with a credit score over a 660 will not be included in this freeze...that is absolute crap. Loans should be a high school course. If you commit a crime and claim that you did not know that there was a law against whatever you did you are still held responsible...why isn't it the same in this case? This is so not fair to people who have already been foreclosed on, people who have re-fied, people who have fixed rates and anyone who realized that maybe now is not the time for wifey to go to nursing school and not work.

hey guys lets put some flash ties on.....

This mistake is typical of W: assumes too much.

Praise the Lord for favors
Thank you Mr President
Some of us are greatful.
Thank you

Must be a slow day in Iraq to make this news, getting a phone number wrong. Who has not done that at one time or another. No matter what the President proposes he will never be right in the eyes of those that hate him.

Has anyone who sides against the borrowers considered the fact that a large number of foreclosures could potentially endanger their OWN property values? I am 14 years into a fixed 30-year (would never have considered a variable rate) and I understand the resentment of people saying that irresponsible people shouldn't be rewarded when resposible borrowers don't get a break. But I don't want to see the value of my home degenerate due to the lowering of property values in my community due to multiple foreclosures. Flippers looking to make a fast buck can go to hell along with the greedy brokers who misrepresented the terms of some of these subprimes. Let's also include people who bought these outrageous "McMansions" who could have gotten along in a smaller, simpler home. But I do feel bad for people who were trying to get their own first home who were scammed by unscrupulous brokers trying to make commissions. So much for the American Dream, huh?

The problem now is that the actual value of the US dollar dropped about 30% in the last ten years, energy and housing are not factored in the inflation numbersthat are made public. The cost of living is rising fast and is not about to stop. The Homeowners whoever need to be protected at least on their housing cost.

You bunch of cowards some of you don't have pain but you can feeled for others.

You are the one that make all these bad speculations and frustrated environment.
If you made a mistake accept it and move on.
Nobody is dying. Yiet. Many of those 100% financed loan. They deserved they did'nt want to bring anything down.

Bush is a bumbling diabolical version of Inspector Clouseau!

This mortgage deal has been good for me, just purchased a rental property at well below appraised market value here in Houston. Looking at another tomorrow. Two weeks ago I was driving through an area of low to middle income homes in NE Houston and happened upon an area where a number of Habitat for Humanity homes had been built, and I was simply amazed to see what was parked in the driveways and yards. This one house had a new Cadillac Escalade and a trailer with two ski-doo's on it, sitting in the drive. Anyway, these mortgage lenders and equity companies who bought these risky mortgage packages are caught between a rock and a hard place. The borrowers on the front end going belly up and the investors on the backside who ponied up the investment money in order for the mortgage provider to purchase the risky loans are threatening lawsuits if they accept deals such as those Mr. Bush is proposing. The worst has yet to hit. Look for terrific fallout from companies such as Countrywide mortgage who borrowed heavily from the Atlanta Federal Home Loan Bank (51 billion) in order to purchase their portfolio of subprime. If Countrywide goes belly up, who do you think will be responsible for all that paper the Atlanta Fed. is holding. Paper that is guaranteed by the U.S. Government. US! It's no wonder Bush is trying to work a deal. Countrywide is the largest, but there are a hundred smaller that will follow suit. H&R Block just closed their money losing mortgage arm, Option One, after failure of a sale to Cerberus Capital management. I might also mention the CEO of Countrywide managed to sell $130 million worth of his stock before the bottom started dropping. This is going to make Hillary's Whitewater a mere drip.

It's a shock to see that these faith based mortgages are going bad. You know the type: I have faith that if I lie to you, and if I mislead you, you will fall for it, and I will get rich. It's not surprising that this disaster occurred during this Administration; until recently, it was the type outfit that could warm a mortgage broker's heart. Not an easy thing to do.

I have been very cautious about buying a new home. With everything going up in price the last few years, I just thought it would be a very bad move to invest in a home....It sucks living in an apartment...but at least I have money to spend or save as I please.