Just heard on the news that the mortgage bailout our government plans will work like this. It will bring the payments down for homeowners who are in trouble of losing their homes AND it will buy up the difference between what is owed and the homes actual value.

So, MOST Americans were smart enough to understand the terms of their mortgages and were able to afford the payments of those terms. My homes value has gone down so far that, regardless of the 30% I put down, there is little equity should I choose to sell. This is the scenario of MOST people who bought new home in the last 5 years.
So, what about OUR home values? Who is going to pay to make up the difference in value for the responsible people who do not have mortgages that are at risk?

The result will be HIGH mortgage rates for years to come, for YOU, for OUR children and grandchildren and for those who saved for homes and have good credit and didn’t need the "zero down, no credit, no problem" loans to begin with.

Once again, irresponsibility and ignorance get rewarded every time.
I was being sarcastic. I have never been irresponsible with my finances but because some people were, I pay. Nuts!
*Freedom Rocks* actually they said interest rates will be very high "even for those with good credit"…..and yes, I worry about taxes as well. Scary. More scared for my children than myself. I’ll be fine. I don’t know about the furture……..
*jean jean* I’ve no problem helping the elderly but I do not know even one responsible person who lost everything. Not one.