dc0de wrote:

RESCUE them?

Please, if they can't afford the house, they shouldn't buy!!!

The "rescue" is not so much about the people who bought what they couldn't afford. They are a minority, although a substantial minority in some regional markets.

The problem is that the coming wave of foreclosures will depress the market value of all homes, including those of people who got fixed-rate mortgages and are making their payments on time.

Why should more of my tax monies go to stupid lenders and dumb buyers?

Agreed, but it's going to be a challenge to punish unwise speculators without creating a market panic. It's going to be a challenge regardless.

RE: Rescuing Mortgage Holders