It is an unfair penalty for every American who opted for a higher priced fixed mortgage, and you and I are paying for it.

The flip side is that the bailout may help keep our economy from tanking. And that's good for everyone.

I don't like the idea of people losing their homes; I think it's about time the government stepped in to set things straight.

Bad government. Bad government. Bailing out people who made risky/stupid choices doesn't teach any lessons other than you don't have to take responsibility for your actions.

In response to corinthians:Only if it works. There are no guarantees that it will. And the industry will learn nothing.

I think the government had better do something to change things around. If they don't we are headed for either a long recession or maybe even a depression. Those don't tend to be good for most anyone.

I don't think it's fair to the people who took less risky loans, but I view it as a necessary evil to bail us out of a major recession.

It had better work. Some experts are predicting a 10-year economic slump if it doesn't.

In response to corinthians:10 years!!!! That's an incredibly long time. I'm hoping that's just worst case scenario not an actual middle of the road prediction.

I think that the government needs to do this, because it is partly to blame for the mess that we are in. They didn't crack down on the iffy loans and they upped and lowered the interest rates too quickly.

Yeah. Right. Tighter lending standards, rising defaults among borrowers with weak credit and a sense of worry about the housing market's future have translated into fewer buyers for homebuilders. Doesn't really seem to be helping, does it?

Not yet, at any rate. I read that are still plenty of bad signs for the future. For example, the government reported that applications for building permits fell for a sixth straight month, dropping by 1.5 percent, the slowest pace for building permits since June 1993.

Mortgage bailout...more like a bank bailout. Starting this summer, some of the nation’s largest banks and investment firms have experienced multibillion-dollar losses from defaults on subprime mortgages... loans that never should have happened to borrowers with weak credit histories. Don't kid yourself and think that the government cares about the little guy ... this measure is all about relief for the banks. You know, the one with the powerful lobbyists.

Here's the other side of the coin, though. Bush's fine mess is leading to a rise in homeless rates not just from families losing their own homes but also when renters are evicted after their landlords get foreclosed on. It's also gonna mean reduced property tax revenue. And the divorce/domestic violence rate is going to go up from all the stress. Way to go guys!!!

In response to Cass:That's for sure. I read that RealtyTrac estimates that more than 20 percent of foreclosures are investment properties; when landlords lose those properties, their tenants are out on the street, sometimes with almost no notice. I'm also guessing they are kissing their security deposits goodbye.