The problem is the government doing something about foreclosures means the government using your and my taxes to pay for bad debts taken during the housing bubble. I don't have a problem with my taxes being used to help out people of good will who have found themselves in a temporary tough spot with paying the mortgage on their primary (and only!) residence and need some help to get through it. But the people who took out the liar loans, people with 2 or more properties, and the house flippers who got caught should all be foreclosed on if they can't pay their bills imho. And the government should not be trying to prop up real estate prices any more than it props up my 401k.
— by northsloperenter in Blinder: 'Fiddling on Foreclosures'
Copyright Brown - Brownstoner
