Rescue is quirk of timing

A single mother of three who runs a day care center from home bought a $545,000.00 house!! Am I supposed to feel sorry for someone this stupid and contribute to a bail out on her mortgage?
Sorry but the answer is NO!!!

Geez Glock, where do you think we can get in on this deal?

Silly me, I bought a house that we could actually afford and took out a conventional loan at a fixed 6%.

Darn it, I've learned my lesson. Next time I will buy twice the house as we can afford and will take out a risky adjustable rate loan so that the government can bail me out and hand the bill over to the taxpayers.

This is the kind of fool that is at the root of this crisis. No bail out for morons!

The woman knew her income was overstated? Then she should be charged with fraud. You cannot outlaw stupidity.

She did not know her mortgage broker inflated her income and assets? Come on now, Did she not have to sign the loan application with this data on it? This is just an example of a buyer who entered into a home purchase she knew she could not afford. Now we may be faced with bailing her out so she can stay in over a half million dollar house. I wish I knew this was coming so I could have purchased a home I could not afford.

"a homeowner's mortgage debt-to-income ratio would have to be 31 percent or greater as of March 1. " This should read 31 percent or less

This is the price you pay for living above your means. Why should I have to help buy out (via my tax dollars) folks who took mortgages that they KNEW were unaffordable? Sorry, but that is the price you pay for being STUPID.

No sympathy here. I bought a $130,00K house I could barely afford, live off of credit cards for 5 yrs, until I finally made the income I could to pay everything down. And that does not consider all the fix me up I have had and stil lhave to do. And I am suppossed to feel sorry for this person?

This bill doesn't do anything for the people who have lost their homes or are in the process of losing their homes," she said. "All the laws passed have been basically to help the lending institutions.

Peterson said "These are actual people that are being affected," she said. "These are actual lives. And nobody cares. Nobody really cares."

No, we care about OUR lives. And how we are getting screwed by the likes of you. Live in our shoes. I am not saying you haven't worked hard, but so have we, and now we are getting chopped off at the knees by the likes of you who were too dumb to see how you would be 3 yrs down the road.

$545,000 Wake up people how can you think this is affordable on the salary of running a day care ? If the mortgage company didn't stop it why didn't the homeowner. My wife and I have a very high yearly income & we wouldn't want this mortgage what are these people thinking.These idiots should not be bailed out they need to learn the value of money and not be given a hand out every time they screw up,It's life learn the lesson and get over it. People with common sense aren't living in this world going around house poor and having large credit card bills and we shouldn't have to look out for the STUPID. You can't afford $545,000 on running a daycare unless you put down about half of that in CASH. WAKE UP you are running the real estate market into the ground !!!

Oh, so the mortgage lender is the devil! Didn't she know that her income was inflated?
She must take responisibility for this situation

You know what...I am sorry, I don't feel sorry for her.

What entitles these people to think that they can go out, and their first home be over a 1/2 million???

My realtor and her crooked lender, that I was steered to, tried to pressure me into a $345K 2 bed condo in PG County. They told me I would "grow" into the mortgage. That I could refi at a later time, and sell and make a profit, or get an even lower mortgage...And I could get a room-mate. A room-mate to make crucial mortgage payments (not counting the condo fee, taxes, insurance, etc.). I fired her because she wouldn't show me affordable Baltimore City (where I am now).

I moved into the hood, but I don't care what anyone says, I "OWN" in the hood, and my home is beautiful, because I realize I don't live in the streets. I am not in fear of losing my 3300 sq. ft. renovated home with four floors to foreclosure, because my mortgage is $900! Plus, I can walk to a train station. Yea, I don't feel sorry for those people. You move up to a 1/2 million dollar home, with two incomes, or one heck-of-an income! She signed the paper, and didn't educate herself. She should have learned (like I did) that realestate operates in cycles...I could see the writing on the wall.

So no one cares right? Well it seems to me, the person that should have cared the most, is her! She didn't care about dragging down the values of her neighbors homes when she bought. She didn't care about making her three kids homeless. She didn't care about honoring a promise she signed free from duress! Seems like she needed to care more about her, than her realtor and lender did. If she did, she would be in a home she could afford from the beginning!

8-1/4 to 11-1/4 percent?!?!!?

You don't have to be a real-estate specialist to know you're getting hosed at that rate. It would take the average person about 20 minutes of internet research to figure out that was a ridiculous rate.. even if they had no real estate experience.

I have sympathy for her child, but not for her. I'm not saying she should be "punished" or anything, losing the house is a big deal.. but it was never really hers to begin with!!!

Let's help the geedy and stupid who never ask questions or have help when signing for the biggest purchase of their life. When will the good citizens of this country overthrow the government and put in the hands of the resposible people. owe'malley,miiler,busch,pelosi ,and reid are ripping this country off and should be tried for treason This group of political gangsters are out and out embezlers. Watch out the next sound you here are of the bells time to tax and steal more money from the good peopleof this great country.

More pre-election doom and gloom from the liberal Sun! The federal government(that is the other taxpayers) must bail me out!
I cannot make the payments on my 65 inch HD TV and home theater combo! I cannot afford the payments on my car! I need a grant or loan from Washington! I need your money transferred to me by the U.S. Government!

Another 'victim'........ Ron White said it best "Can't Fix Stupid"....

I am really upset that my tax dollars might go to help people like this. They say "all things arn't fair". You really can't imagine how upset I am that the law makers would be soooooo stupid!

Seems to be a fairly common theme here. Did The Sun think its few readers would sympathize with this "victim"? Fortunately, there are more people who both work hard and possess common sense - and live within their means.

Glock wrote:

A single mother of three who runs a day care center from home bought a $545,000.00 house!! Am I supposed to feel sorry for someone this stupid and contribute to a bail out on her mortgage?
Sorry but the answer is NO!!!

Couldn't have said it any better. This woman DESERVES TO LOSE HER HOUSE!

It's entirely HER FAULT!

If it was a $200,000 house, I might feel sorry for her.

Somebody should have though it through before they bought a $500K+ home on basically a babysitters salary. Whose fault is that? Just because somebody (the lenders) let you do something doesn't mean you shed the responsibility of all consequences.

why on earth would a single monther with 3 kids who runs a day care buy a half-million dollar home?? she firmly believed she could afford this house?? an adjustable rate at 8% isn't that cheap. for mortage interest rate to be that high she probably had a low credit score.

i know 5 years ago when i bought my house i qualified for over $250,000 loan, but no way i'd get a house at the maximum amount of money.

maybe people who get into situations like this need to go to budgeting class before they close of the house so they know what's involved.

stupid.....no wonder people are tired of bailing out everyone. i know i am.