I bought two years go, early in the trend. I'm sure my place is worth less now.

>I think Bruce meant the rollback, not the original enactment.
>
>IMO there was plenty of blame to go around, including Clinton. I do not exclude home buyers who got into mortgages they should have known were highly risky for them, if not downright foolhardy. Just because housing prices were going up, up, up for a while there does not mean that is a law of nature like the gravitational force. How does someone making 50-60K a year think they can afford a half million dollar house with 10% down?
>
>Not to mention the lenders, as others have already pointed out. They could happily make "liar loans" with little or no due diligence because they knew Fannie and Freddie had their backs.
>
>I thought I was being cautious when I bought this house. It isn't a fancy house. What I didn't count on was a 30% market correction. I have been making payments for six years and it's worth less than the remaining mortgage. Right now I can't even dump it because I couldn't pay off the mortgage. I didn't move here as an investment, I moved here to be closer to my daughters. The timing could not possibly have been worse.