I don't know if you all remember during the Palin/Biden debate: Joe Biden said he not only wanted to reduce interest rates on the loosers that bought homes they could not afford, but he & Obama also want to lower the principle, meaning the amount they borrowed! Now I would love for my mortgage loan officer to call me & say guess what? You have been awarded--(due to the generosity of your fellow Americans) reduction on the principle amount you owe on your house. This qualifies you to beat the pants off your neighbors in equity. Therefore, you automatically qualify for a 2nd mortgage. Because you have now (thanks to the American taxpayer) just been awarded a whole lot of equity, which we have not given your hard working neighbor. The 2nd mortgage of course will be offered to you at a lower rate than your neighbor, & as before, no need for you to prove income, & your credit as always can be sub-standard to normal banking regulations--(again thanks to the hard working American tax-payer.) No need to pay. Fannie Mae or Freddie Mac--are backed by the American tax-payer. Thank You democrats for making certain that everyone owns a home. Not only that but congratulations for ignoring all warnings--& fighting with a fervor any attempt for new regulation that would incite ACORN for discrimination against color, income & credit rating. AKA--The Democrat 700 billion buy the lower income & minority vote policy! You're right working from the Bottom UP has worked!