"This is exactly what the Fed wanted. They wanted to crush the housing boom and they have done that and in the process putting the economy close to a recession. If they want to fix the problem all they have to do is to lower the rates. The homeowners can refinance at a lower rate and keep their homes."

"The gov't should help borrowers if they were really misled. I have heard that some borrowers took out loans with no intentions of making any payments knowing that it would take at least a year for anyone to foreclose on them and move them out. They would have a place to live without expense. That is a sad commentary on our society. Who was really scamming who?"

"All of us with a mortgage had many opportunities to use a subprime type of loan and declined because it is obvious that it is not a good idea. We declined so that we were assured in the long term that we could handle our mortgage and our homes would be secure. So now the government wants to come along and use my tax money and help them out. Why do we always reward stupid decisions? How about subsidizing good choices and help me just because I used some long term planning on a mortgage I can handle myself. As long as the government is there to bail you out, there is no reason not to gamble with your home and financial future with these lame and ludicrist financial schemes."

"Of course not! My daughter works in this industry and it is very clear what the deal is when someone buys a home, our government has made this possible with documentation. If buyers are not smart enough to understand the details or if they have not looked at history of home values and just get caught up in unrealistic frenzy of house gains, it’s no one’s fault but their own."

"No!! Lax credit standards and all-too low rates have allowed people into homes they should not have been able to acquire otherwise. If people lose 'their' homes and have to downgrade to condos, apartments or even back to their parent's homes, then so be it. Homes and land are overvalued by at least another 25-50%. People who manage to keep their homes better plan on staying in them a long time - maybe just to break even. If the average wage earner cannot afford the average cost of a house on a 30-year fixed mortgage, prices must come down -- NOT rates."

根据Moody's, 最新的统计数据是, 所有房贷总量大概是10 trillion, 次级贷款大概占25%.

现在的悲观是预计在这2.5 trillion中至少40%会eventually default. 也就是1 trillion loans.

现在不难理解为什么Fed提出的几百million的restructuring proposal是杯水车薪了.

很多人在sign这个no-downpay loan的时候, 就打定主意拖欠mortgage的, 因为他们知道foreclosure程序需要时间有时多达一年, 他们可以白住一年的房子, 何乐而不为呢.

这些loan是美国庞大金融体系下一次崩溃的导火索, 虽然还需要一点时间.