Letters to the Editor
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No one should be bailed out by the banks or by our government
I am one of the home purchasers who actually had a decent credit score and income. I went for a traditional 30 year fixed mortgage. I found myself being outbid on homes by people who had no business purchasing a home in the first place. No money down and teaser rate mortgages were actually pricing honest home buyers out of the market. I ended up finally paying more for a home in a bidding war only to find out later that the people bidding against me were not even qualified to own a home in the first place. The banks who devised these schemes and the people who are taking up space in the homes they should not own are the ones who should shoulder the burden. Foreclose on them all. Kick them out so people with real incomes and real loans can pay a decent price for a home. To protect them only penalizes people like me who actually did what the market should have allowed in the first place.