PAY YOUR MORTGAGE!!
George and I just refinanced our house. Three years ago when we originally bought the house, we signed an 80/20 mortgage with a 3% introductory interest rate. We went in with our eyes completely open, read all of the fine print, asked a *LOT* of questions, and did simple math and signed on knowing full well that we would refi in 3 years, or risk paying as much as 11% interest. We calculated our 11% interest payment and knew that even if we weren't ready to refinance, we could still afford the higher payment. We just refinanced at 6% fixed.
I am sick to death of hearing how this mortgage company is to blame, that politician is to blame, or this bank is to blame. How about we turn the finger to ourselves and accept the blame and its ensuing concequences.
George and I are not financial whizzes, nor are we the Louisiana brain-trust. We're regular people who do our best to be good stewards of the money we earn and live within our means, continually working to be debt-free and unafraid of the idiot politics which put our country in such a tight spot.