According to a recent survey conducted , the majority of Americans are opposed to a mortgage bailout program. A government sponsored bailout would be unfair and very costly to American taxpayers. It is unfair to ask people who made prudent financial decisions to pay for those that did not. You could not create a bailout that would be large enough to stop the impending home price correction and the impact it will have on the economy.
Present home prices are disconnected from real estate fundamentals. It is not right for prices to be higher than the level of affordability in so many different areas. It is just natural that prices correct at a later date.
The majority of subprime borrowers are not falling behind because their loans are now adjusting; they are getting behind because they got into more house than they could afford right from the start.
Most experts agree that the plan will not save enough homeowners from foreclosure. Home prices will drop about the same as without the plan.
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