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San Diego example of Freddie Mac's work
There is no indication that Heather is incapable of paying off her loan. Getting married, in fact, probably increased her level of affluence. The story does not describe any real hardship, except a bad investment. She appears to be like so many other Americans who bought into the bubble. She doesn't want to pay her debts because the investment went south. I am so tired of hearing that people like her deserve help because the banks got bailouts. All those bailouts come at the expense of people like me, renters who pay taxes without any of the obscene writeoffs given to so-called property owners. Bailing her out, which is what allowing her to walk away from debt means, is like picking someone to get in a lifeboat based on the fact that they helped sink the ship. Meanwhile, those who did no wrong will be more likely to drown. Go ahead. Say I'm on a high horse, even though I'm under the horse's hooves. My Social Security and other retirement funds are being destroyed to help people who bought real estate escape their responsibilities. This woman made a bad investment. Passing the consequences along to me if she can afford to pay her debt is murderous.— August 8, 2010 9:59 a.m.