When my wife and I bought our house nearly nine years ago, we made sure to buy a house we could afford. No, it wasn’t our dreamhouse. In fact, we drove by it several times before we decided to give it a look. It needed tons of updating, which we could not afford to do right off the bat. But, we bought it anyway. Why? Because it was the house we could AFFORD!

We were “informed” that we could afford a much larger mortgage than the one we needed but the thought of spending more just because our mortgage broker told us we could afford more, was just stupid. So, we bought our house and lived in it for years before we started making it into the house we wanted. In other words, we practiced PATIENCE!

So, as a responsible, tax-paying citizen of the United States of America, I find it offensive that our goverment is bending over backwards to keep irresponsible people in houses they can’t afford. Our government’s actions are a slap in the face of every responsible citizen who did things the right way.

Seriously, what kind of fairyland do we live in when a person can take out a mortgage on a piece of property and then when things turn sour, get ANOTHER smaller more-favorable loan on that same property? Besides, who’s to say that these borrowers will be able to afford even these new loans? What then? Just give them the house?

Where does it end?

My solution will hurt but it’s what’s best in the long run:

LET PEOPLE (and companies) FAIL! Let people lose their homes. They can rent an apartment for a few years until they can get back on their feet. Let those who actually practiced prudence and saved their money for a house while living in an apartment buy these foreclosed properties. Eventually the prices will come down enough to attract buyers.

When companies fail because of stupidity, go after their executives and take everything from them. An executive of a failed company should not be allowed to keep his spoils. Allowing them to do so, just sets a precident for everyone else to beg for government intervention. Executives and companies should not be allowed to ride the coattails of capitalism when it favors them and then request taxpayer help when things turn sour.

Maybe we need a new political party called The Responsibility Party!