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Date Posted: 14:20:26 03/16/08 Sun
Author: AssieKay
Subject: Help me out here

Can somebody explain to me why some homeowner's think the government should bail them out of their mortgage/loans? I'm confused. Were they all duped into signing a balloon loan, or did they just sign it to get a house they actually couldn't afford? And why would the government bail out the mortgage companies? If they gave out loans to unsuitable risks, is that the government's fault or responsibility?

Thankfully in Texas there doesn't seem to be the same horrendous housing/loan issue there is in much of the country, so I'm not really up on the facts of the issue. I understand that there is a serious problem, but I'm unsure why the government is considering taking responsibility. Anybody who knows more about this care to fill me in?

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