The Nanny State MUST STOP!!!!
It is NOT up to the Government to bail out lenders who make bad loans or borrowers who are high risk. You KNOW going in to the loan that if you don't make your payments you loose your house. It is the definition of collateral. You already have several companies that offer mortgage insurance, if they won't take your business, YOU SHOULD NOT BE MAKING THE LOAN!!!!!!!!!!
The Government's job is not to hold your hand with everything. Freedom means the freedom to fail! If a bank is stupid enough to lend to someone who can't pay, then shame on them! Let them take the loss. If the person tries to buy a house they cannot afford, the deserve to live on the street!
What is next? Are you going to bail the auto borrowers out when you can't pay your car payments anymore? Why not issue everyone a car and a house? Why should people pay for anything? Why not have the Government make all the decisions?
No one cares about freedom any longer. Not Republicans. Certainly not Democrats. Raise the red flag. We did not win the Cold War. They did, Comrade!