Reply #69: Fascist?

[NutmegYankee]

I spent years living in a smaller apartment than necessarily to save up to buy a home. After all that saving and sacrifice, yeah, I would be absolutely pissed to see the reckless people who had to have it all now get free homes after helping run the market up in price for the rest of us. At the end of the day, those people agreed on a contract to pay back the mortgage, just like the rest of us.

Perhaps you didn't look at the effect on the rest of us - The mortgage industry would freeze up, causing a catastrophic dive in home values leaving the rest of us underwater and unable to sell. If I needed to move, I wouldn't be able to. If I fell behind on my payments, I'd get foreclosed and pushed out while others could sit back and enjoy their big flat screen TVs with no payment due to the bank screw ups.

Fascist or UnAmerican? Are you fucking kidding me? It is very American to work hard and save for something. Giving the homes away for free would shatter that to many.

I hate the banks also, but I'm not about to destroy the value of houses or keep the economic pain going for years to come. Perhaps the banks should be forced to write down principal and modify the loans by law.