Well we have yet another change to the government programs to help homeowners out there. I think this just goes to show you about the inefficiency of government. This is the third program in less than 6 months that has been enacted with little or no effect on the housing business as of yet. It does look like it has some merrit, however, it is rewarding those that overbought in home by using the tax dollars of those that have not to bail them out.
Talk about the pinnacle of “victim mentality.” Why don’t we all just go out and buy more house than we can afford and apply for one of these governement bailout loans that are good until December 2009. I know my wife would like a bigger house. Wouldn’t yours? Nothing like having the “government” pay for it.
If Obama gets his way and the biggest tax hike in history that he is proposing gets passed, your mortgage deduction for interest will be severly cut, as well as the death tax and corporate taxes increased by over 100% some say, so you have to get it back somehow. If the government is rewarding ignorance, I guess well all have to become ignorant.