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>But, when hundreds of thousands of people become underwater, Congress started to get involved to (attempt to) provide relief. Yeah, I was almost afraid that I

>But, when hundreds of thousands of people become underwater, Congress started to get involved to (attempt to) provide relief. Yeah, I was almost afraid that I had bought too small of a house, knowing that I would have to pay for my share of the mortgage bailout in extra taxes and value lost to inflation, I might as well buy the most ridiculous crib I could get financing for. Right? But then it came to pass that those bailout programs never really did much for underwater and overextended homeowners. Of course, none of that really makes me feel better, except that I can still afford my mortgage.

ratscabies 13y ago
That's my whole beef with the "underwater" thing. They seemed to think that house was worth the price they signed up to pay when they did it. Now those houses are not worth as much. Too bad, so sad. I think I should get congress to bail me out on buying a new car. It certainly is not worth as much as it was when I purchased it.
- FireBeyond 13y ago
  Right - just like those TV shows encouraging the whole thing. "So, you put $10,000 of renovations into your kitchen. That increases the book value by $50,000." Uh, what? All sorts of people, for all sorts of reasons, were whole-heartedly drinking /that/ Kool Aid.