If you lost/losing your house because the payment went up on your ARM, I have no pity for you (unless you lost your job, in which case, I do have some measure of pity). Get smart before you buy, and try living within your means. And please sell your boat and your 4 wheel drive truck and what about that new bike you had to have !

OK...

Compassion = Don't be such a pompous donkey (I am sure you are rich beyond my wildest dreams)

Don’t think that history won’t repeat itself… While you can afford gas for your SUV, others may have not had it as easy… What I am really trying to say is that not everyone who is having or going to be having problems (because this article clearly states that nothing will be in place until November at the earliest).

Our government sees the problems coming down the road and is fearful of an American disaster of our own making?

Charlie… I try to look at both sides of an issue and believe that most people are good and have good intentions. I do not believe that all of these people are dead beats, as you insinuate.

Enough Said…

"How about the people who bought within their means, lost their jobs, can't sell because of deflated prices, or maybe they did get overextended trying to make it through and now they're stuck"

I'd say these are few and far between. These are not the people whose sob stories are being told in the news. The only way this person is affected by the RE market is if they are selling. Whenever you buy RE, you take a RISK that the price will go down, no matter what people tell you!! Why do people always believe the people who are there MAKING MONEY OFF OF THEM??!!! Have some discernment, people, the Realtors and Mortgage Lenders are not your friends and they are not looking out for you- they are in BUSINESS to make MONEY!!

Charles, We did the same as your family; but;Husband's company closed down, construction, without notice, one month pay. Hard time finding other employment due to construction down turn. Injured knee on brace till surgery 3 months later. Six weeks out of surgery got any job he could. Did not pay like the Project mgt job. Fell, torn all ligaments in ankle, in brace for 1 1/2 month. Back to work now. We are 1 month behind on mortgage. We need help yes. In the last 13 1/2 months we spent all the savings; disability insurance pay we got (thank God for that); food banks any thing possible. lost car; enjoy that bank for a while will ya; they want us to foreclose get an apt and pay them off. Ha! We are so lucky to be only one month behind. I would have surly thought it would have been more than that. Do we need someone to look at our situation yes and hopefully we will be able to push one month to the end of the loan. The mortgage company is not interested in that option.good people

Since oil dropped another $5.30 today (about $16 drop since GW made his speech), maybe things will start to look up. I anticipated the drop last week, adjusted my holdings, and have been making out like a bandit in the stock market.

I predicted August/Sep gasoline futures (wholesale) would be under $3 by COB Friday. Only 12 cents more to go! Too bad we won't see any relief at the pump for another 4-5 weeks.