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And it adds to hypocrisy that is sometimes this country. There are people in some areas of the country that were stupid and got into a VAR or interest only mortgage when they shouldn't have and now their payments are going way up and they can't pay while the value of their houses has fallen dramatically and they can't sell. Some are choosing to do what they call "buy and bail." This is where you declare that you are going to rent your house out and you then buy a new house in the same area (often a comparable house for half as much since the values have crumbled) then you never rent the old house (because you never would be able to) and you walk away from it and let them foreclose. This gets you a new place at a lower payment and you get out from under the old place. The mortgage companies are jumping to put an end to this saying that if people made bad decisions in buying the houses they need to deal with it and take responsibility. However when a company makes bad decisions and either gives out mortgages to people who should never have them or they buy up a ton of high risk mortgages, now they want a government bailout.
Individuals should take responsibility for their actions.
Companies should get a sweet handout.
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