Is it the lender or the buyers fault?

Everyday you hear about tons of people who are walking away from their house because  they can’t afford their house payment in this Real Estate market.  I know some people were stupid and got into loans where they could not afford the house.  Other got greedy and thought they could do a quick flip.  Now I have been reading stuff on how the Fed Reserve wants lenders to step in and help out the borrowers.  I think this would be okay considering some that actually bought the houses got suckered into loans that the lenders knew eventually would come back to burn them.  Also these lenders did these bad loans not just once but over and over to put tons of cash in their pockets.

What about people like myself who pay my mortgage on time?  If the lenders are going to give them a deal shouldn’t I be getting one as well – for being responsible?  If they lower their interest rate or principal owed on the loan shouldn’t everyone get the benefits of that?  Or do only the non-responsible get the rewards of the bail out?  I think it should be fair that if you are only going to help the distressed that they responsible should get some sort of benefit as well. 

I am very interested to hear all your thoughts on the Real Estate market.

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