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Great! (rampant sarcasm)
For the sake of the “economy”, the government is going to help-out those who did not “do their homework” and entered into these mortgages supposedly out of “ignorance” or “being misled”.

Meanwhile, other homeowners (who did “do their homework” and recognized these “teaser-rate mortgages” for that they really were), gain nothing and instead are left to watch those “less diligent” sub-prime individuals reap the benefit of 5 more years of a ridiculously low mortgage interest rate.

Don’t get me wrong, I do “feel” for those impacted by the sub-prime crisis. anyone at risk of loosing their “home”, deserves the utmost sympathy. However, I (and several hundred others) are in a far-worse mortgage situation, and don’t see the Bush Administration beating down any doors to help us out. We, specifically, are victims of a mortgage fraud case (through an unscrupulous company called OPFM, Inc). More so than the sub-prime folks, we did out homework, we did absolutely nothing wrong or negligent, and are now are risk of loosing our homes. I personally will have to pay 70% more every month for close to 2 decades to come (and I am not the worse-off out the victims). Using your $1200 per month example from above, I would now need to pay $2040 per month (70% more), or an increase of $804 each month!!!

I don’t want to use this forum as a soap-box, I merely find it very distasteful when people who do make the effort to do things “smartly and correctly” are left to fend for themselves. While others, who either lacked the knowledge, ability or motivation to do their “due diligence”, are effectively “rewarded” for their “less-than-wise” decisions.

This is teh type of central banking and government meddling that has created the decade long recession in Japan.

You the reader really should educate yourself on the Austrian school of economic thinking.
http://www.mises.org/etexts/austrian.asp

IF you folks do not and chose to stay ignorant you all are risking your savings and retirement thru poor central planning and the devaluing of the fiat paper money system. IOW you and WE are all getting a royal screwing. The only choice we have is to educate ourselves and put pressure on the decision makers. Those buyers that made POOR life/business decisions need to pay the consequences and so do the banks that enticed/mislead them.

I know about this, I had to PAY personally for bad investment decisions and the gummet was silent as many of us went CH.11.(in the thousands)

Anyway watch the money supply and against the Euro, we (the 96% paying our bills on time) are the losers for the few idiots.

will this nation ever return to sanity for the sake of the majority or will w simply comply flaccidly with the politically correct into oblivion?

I just stumbled upon this site through a search and read the above comments on non”sub-prime” victim - December 6, 2007 @ 7:27 am. Let me say this: even those of us who are, at least through IQ testing, “genius”, pay our bills on time, and have excellent credit, fall into traps such as poor/fraudulent lending practices. All the homework and questioning in the work will do no good if the person/company with less-than-stellar motives is always one step ahead until even those who are of “genius” intelligence have already signed all the paperwork. It is especially disheartening when these kinds of deceptive practices were allowed to continue for as long as they did. It is all the laws, legal jargon, and loopholes that got us into this mess in the first place. Mensa candidates usually can not explain the mortgage lending process! So be thankful if you did not fall into the trap, be thankful if your credit, rates, and monthly payments are where you want–don’t gripe about others’ situations if you have it good/great at the moment, and certainly don’t rain on someone else’s good day that they actually get to keep their home.