Past Due

PBS aired a very interesting segment called Past Due and Pay Day about the housing bubble and homeowners who borrowed with interest-only loans. They caught up with people who bought at the height of the Northern California market in 2005. Some are floundering and some are in default. Too sad, too bad but taxpayers should not footing the bill for these mistakes. Funny that in response to recent legislation to create a fund to help people in mortgage trouble, the Sacramento Business Journal created a poll to ask if the government should get people out of the housing bubble mess. When I voted, the results were 100% NO. Let's hope the legislators get the idea loud and clear.