How the Mortgage Bailout Hurts Me

The Bush administration intends to reward some borrowers who are in over their heads by cajoling mortgage companies into leaving those borrowers’ artificially low interest rates where they are. Those rates won’t jump, as they were scheduled to do soon. Read the White House’s explanation here.

But what about the folks who have saved diligently, have impeccable credit, earn a decent income and yet still are priced out of many homes because of the stratospheric real-estate prices that were propelled by easy credit? Folks like, oh, say, me for instance? Read more.