Mortgage Bail Out
My thoughts – no, the government should not step in and bail people out.
It’s simple, don’t buy a house until you know you can afford it. Not just because you can get a loan. And even better, don’t go for an interest only loan. Stay away from realtors who encourage this type of loan (which ours did, and we promptly ignored her).
Figure your income, your real income not what you might be making in a year or two, and figure your bills. If you can really afford the house, and you can pay a 15 or 30 year mortgage payment, then go for it.
I’m not interested in my tax dollars taking care of your mistake, thanks though, I’ll pass.