[quote]Economy wrote:
Why should the government offer 5% 30-year mortgages to refinance all homeowners? The people who took out ARMS, no downpayment loans, loans with balloon payments, etc. knew, or should have known, what they were signing. Why should responsible homeowners - and those responsible citizens who are renting until they save a substantial downpayment - bail out the irresponsible mortgage holders?
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Most people who did what you mentioned are not more irresponsible than you. They're just less fortunate. Some were irresponsible and are struggling to pay for big houses. For them I have no sympathy either. But for most I don't think that applies. Owning a home should be possible for everyone, not just those who grew up in the middle class.