>>Problem is, one way or another the people who still pay the bills (who weren't trying to make fast money from the real estate pyramid scheme) get shafted in the fallout.
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>>Either it will come out of our pockets from a government bailout (likely) or from increased fees and interest rates by the banks or both (most likely).
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>But of course, if we let lots of houses get repossessed, the rest of us will still lose because of more downward pressure on real estate prices. Unfortunately, there's no good way out of this mess that doesn't have pain for pretty much everyone.
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>I think we need to find a middle ground, where those who are willing to work to keep their homes and have appropriate incomes can get refinanced at some reasonable rates. I also think that the idiots who got us into this mess by giving loans to all sorts of people who shouldn't have had them should have to share in the pain.
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>Tamar

I am all for that as long as the home is the primary residence and not an investment property or vacation property or 2nd home.