Reply #4: Yes, deregulation has got to be addressed [View All]

[MadHound]

But frankly, I don't believe in rewarding greed and stupidity, which is what this, and the Wall St. bailout does. A house is the largest investment that most people will make in their life, and as a potential buyer, you need to treat it as such. Stay within your budget, get a fixed rate loan, put down at least five, preferably ten percent down. If you can't do these things, then you put off buying a home until your situation improves and you can meet these conditions. If you have any trouble figuring things out, hire a financial adviser. Real simple steps, ones that used to be standard. The trouble is people got stupid instead.

Frankly, this should be on a case by case basis, and failing that, nothing at all. Sounds harsh, I know. But the rest of us are already carrying a huge burden due to this mess, and quite frankly I don't know how much longer we can carry it.

I would have less problem with this is it was simply a reduction to around 6% and thirty year fixed. But to reduce it to 3% fixed over forty years, sorry, but that just pisses me off no end.