Mortgage legislation unhelpful to those in need

Recently I read a New York Times article (published on 12/11/2007) regarding new mortgage legislation. The article dealt with the fact that the new legislation, intended to help ease mortgage pains, has done little to nothing to homeowners who genuinely need it. What I found more interesting is the article discusses the issue of people purchasing homes that they simply couldnt afford in their first place. Like the column I posted previously, it is critically important to evaluate your financial position BEFORE you entertain purchasing a property. Don’t ever bet on the government, or even private institutions bailing you out.