Bernanke calls for foreclosure remedies

Absolutely, we have to throw every bit of public money we can at the housing crisis to keep the market over inflated and from correcting it self. I don't care how much of my kids money it takes.

"commitment of public funds to help struggling homeowners avoid foreclosure." Translation: those of us who make good financial decisions are to be sacrificed to those who do not. I don't care if we enter a depression. Those of us who rely on honest hard work and live within our means can withstand it. The rest of you need to learn a lesson.

Why did the original proposal only include new mortgages and not re-financing mortgages in danger of foreclosure? I suspect this was proposed by home builders who want to sell more houses. The super-low interest rates should ONLY be available for re-financing. That is a step to help shore up the entire economy. Giving the low interest rates to new purchases just lets buyers afford more house than they should buy and the overpriced homes stay overpriced. Home prices have to line up with income. When home prices were skyrocketing while wages didn't keep pace, everyone should have known the doom was coming. Now either home prices need to come down to where wages are, or at least wait for wages to catch up.