Letter: We shouldn’t have to bail out reckless buyers

Friday, Sept. 21, 2007 | 7:08 a.m.

The government is looking to bail out homeowners who bought into teaser rates and bought more home than they could afford. Did these people know the meaning of teaser?

According to www.dictionary.com, it is "to annoy or pester" or "to make fun of." It seems that these mortgages have accomplished that and more. The mortgage holders are annoyed that they cannot make their payments, which will escalate soon, and the mortgage companies were out to make fun of them by making a killing in the long run.

Looking back, our family should have bought a home that was more than we could afford and the government could have stepped in to help us out, too. But, we chose to stay out of that melee , even though it was tempting.

Had the mortgage companies not offered all the "creative financing," investors would not have been as likely to prey on our market and send property prices soaring only to see them tumble later.

Once again, people will get bailed out by our government at the expense of those who have done the responsible thing. At what point do we say enough is enough? When do those people who are fiscally responsible finally get a break, too?

Laura Friedlander, Las Vegas

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