As someone who’s never missed a mortgage payment, it infuriates me to read about how the Gov is bending over backward (with my tax dollars!) to help homeowners who got in over their heads. From an article I read today:

The Fed said it would consider reducing the interest rate paid on mortgages at risk of default, extending the term of the loan, and accepting a deferral or reduction of the outstanding principal balance of the loan.

So if you don’t (or can’t) pay your mortgage, don’t worry! The Fed will step in and drop your interest rate, extend the loan, and even pay off some of the principal for you. Whee!

I realize that people fall on hard times, and I realize losing your house is a big deal. But at the same time, it’s a travesty that people can’t take responsibility for their own finances. Today we just took one more step toward Socialist America.