Upcoming Foreclosures

Should we really spend tax payer money on bailing out people going into foreclosure.?

The use of tax payer money is every where with the different buy outs the government is trying to stabilize the economy. But.... Does anyone feel that it is fair that we as tax payers need to bail out people that are going into foreclosure? Reminding you that alot of people that went into these mmortgageagreements had no business in getting into the homes they did i.e. making 40k a year moving into a 400k home and plainly overstretched their budgets; and did not educate themselves about sub prime/apr/points all the things that should of been understood before purchasing a home. Or people jumping in the market to turn houses to make a profit which is a business and as with all businesses come with risks and now they are stuck with the homes. its basically bailing out people that overstepped their reach, forgiving if not rewarding ignorance and bailing out peoples failed attempts to turn profits. So how does everyone feel about this issue that is being disscussed by our gov? ( I feel like im being kicked for staying with something reasonable i could afford and being responsible.)

Public Comments

1. No tax payers money should not be used to avoid foreclosure. People will use the government as their safety net and never pay a house payment again and don't think it will not happen. If you look around and see all the people abusing welfare you know that what I say is true. Let people lose their houses and hopefully next time they buy a house they will not be greedy and get a house they cannot afford or will not get a second mortgage on their house. People are losing their roofs because the were greedy. period.
2. Tax payers should not have to pay a cent towards bailing out people's foreclosures. It is not fair to the people like me who have not bought a home because we knew that it would be over our heads. Why should I be punished because other people do not know how to manage their fiances. I'm 29 and my husband is 32 we rent an apartment because we know we can not afford a home. My parents didn't buy their first home until they were in their 40's and knew that they were financially stable enough to afford a home. There are many things I would love to have however I know the difference between want and necessity. It's time others learned the same lesson.
3. I'm split on this one. I think that people should have done their research before getting into these loans. You are right, 40k doesn't pay a 400k mortgage, anyone with basic math skills can see that is a disaster waiting to happen. My bf and I had a combined income of 100k and only bought a 220k house. I am being laid off as of this coming Friday, because I work in a field that supports the Real Estate Market and we are slow, slow, slow. But even if I have to collect unemployment, we can still afford our home. Crazy concept right? People should plan for the worst case scenario & quit blaming others. Don't count on commission, only your salary, and have enough money in the bank that you wont lose your home if your out of a job for a while. That being said... if the governement doesn't do something, but it has to be the right thing, the economy might get even worse and those of us who were smart will be faced with job losses (what if both people in a dual income family lose thier jobs?) & possibly our own foreclosures. It isn't fair, but if they come up with a good plan I will be more than glad about it. Hopefully all of the idiots of the world have learned their lesson... ha-ha... thinking that could happen makes me an idiot too! :)