this is a topic that has been bothering me for a while..
How would saving the little guys ass, by bailing him out help him?
If a person bought a home he can't afford, and hasn't saved for a rainy day.. how is giving him more time or more money going to help?
I can't see any reasonable reason to keep a person in a house they can't afford...
If a person has a home they can't afford to pay the mortgage on now, Then they often can't afford the other cost associated with home ownership, such as taxes, insurance, and upkeep and repairs..
What going to happen to these same cash strapped people when the water heater goes,.. or the roof needs replacing? or the taxes they already can't afford goes up? let alone the easy stuff like a lawn mower or a screen door and paint...
If they can't afford it now, then no measure the government can come up with short of forgiving the loan will help...