"No way. The same situation existed with farmland in the 1980s. No one came to the aid of the farmers. Farmers lost their land; now subprimers will lose their houses. Don't borrow--pay cash." -- Jo H., Iowa
"Absolutely not! Why should my tax dollars go to bail out someone who made an irresponsible decision? I am living within my means and make financial decisions and purchases based on what I can afford. These people got in over their heads of their own volition. They knew what the payments would be in future years. In addition, we all know what happens when the government gets involved: Waste, Graft, etc." -- Chris H., Illinois
"No, the government should not bail out subprime borrowers. If these borrowers would have slowed down, done some research into loan options, a lot of them would not be in the situation they are in now. Rushing into something as large a purchase of a home is not wise, nor is not saving for a down payment. In the past, I also lost a home to foreclosure, but it was due to a declining economy in the area I lived in. The same thing is happening in the area I now live in -- just north of Charlotte, NC, where some textile mills have closed. I am in great financial shape now, and am lucky enough to be able to help some of those close to foreclosure. I have purchased 7 pre-foreclosure homes, saving the credit of the owners, renting the home out to the former owner for less than their loan payment was. They are saving some money now, and are appreciative renters. In fact, I am working with 3 of the families on a rent to own plan so they can repurchase the homes they are still in. I am not making a lot of money on this, and am real picky on who I choose to help. But at least there are 7 families who won't have the misfortune I had." -- J.P.M., North Carolina
"God No! People need to learn to be responsible for their actions and their finances. It's time for some tough love!" -- Michelle J., New Hampshire
"This is exactly what the Fed wanted. They wanted to crush the housing boom and they have done that and in the process putting the economy close to a recession. If they want to fix the problem all they have to do is to lower the rates. The homeowners can refinance at a lower rate and keep their homes." -- Don P., Missouri
"The gov't should help borrowers if they were really misled. I have heard that some borrowers took out loans with no intentions of making any payments knowing that it would take at least a year for anyone to foreclose on them and move them out. They would have a place to live without expense. That is a sad commentary on our society. Who was really scamming who?" -- Nancy P., Maryland
"All of us with a mortgage had many opportunities to use a subprime type of loan and declined because it is obvious that it is not a good idea. We declined so that we were assured in the long term that we could handle our mortgage and our homes would be secure. So now the government wants to come along and use my tax money and help them out. Why do we always reward stupid decisions? How about subsidizing good choices and help me just because I used some long term planning on a mortgage I can handle myself. As long as the government is there to bail you out, there is no reason not to gamble with your home and financial future with these lame and ludicrist financial schemes." -- Kelly B.
"Of course not! My daughter works in this industry and it is very clear what the deal is when someone buys a home, our government has made this possible with documentation. If buyers are not smart enough to understand the details or if they have not looked at history of home values and just get caught up in unrealistic frenzy of house gains, it’s no one’s fault but their own." -- Neil M.
"Absolutely not. The government needs to go after the subprime lenders for their misleading, misrepresentation of facts about the monetary cost and inherent risk of excessive debt. This is another form usury and needs to be stopped. Furthermore, the lenders need to bare the brunt of the burden. This tactic is little different than the the excessive fees and usury practices by banks and credit card companies. The US population is grossely ignorant about economics and the finncial wellfare of an economically functioning society." -- Robert H., Oaklahoma
"No!! Lax credit standards and all-too low rates have allowed people into homes they should not have been able to acquire otherwise. If people lose 'their' homes and have to downgrade to condos, apartments or even back to their parent's homes, then so be it. Homes and land are overvalued by at least another 25-50%. People who manage to keep their homes better plan on staying in them a long time - maybe just to break even. If the average wage earner cannot afford the average cost of a house on a 30-year fixed mortgage, prices must come down -- NOT rates." --Craig C., South Carolina
"No, both the borrower and the institutions knew what they were doing when they offered and accepted subprime loans. Now they must accept the responsibility for their actions." -- Bonnie R., Florida