Mortgage Foreclosure & Refinance Resource

While many home owners are holding their breath hoping to qualify for some kind of federal, state or even a lender program to help them keep their house and keep on making payment some have started a campaign to prevent any bailout programs. One such site declares its reasons for going against the bailout:

This site is dedicated to stopping the government’s planned bailout of the housing market. A bailout requires responsible Americans to pay for the acts of greedy bankers, mortgage brokers, flippers, and over-extended homeowners. In other words, the government wants you to pay for the blunders of others who knew, or should have known, better.

Equally as important, a bailout would permanently price out of the housing market all those responsible Americans who have been patiently saving to buy a house that they can actually afford. The current housing correction is necessary to correct for the historic run up in housing prices over the past decade, which has pushed the price of housing beyond affordability. By bailing out the housing market, the government will prevent housing prices from returning to affordability and thereby ensure that young families will not be able to afford homeownership.

A government bailout of the housing market is both fiscally and morally irresponsible; it is an unfair subsidy being paid to the wealthy (bankers), the greedy (mortgage brokers, flippers, and yes some homeowners), and the incautious (some homeowners), with no benefit to those paying the bill (taxpayers).