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Help me out if you will... As a pathetic loser who lost his job after the economy tanked, who, by the way, was a top performer in my company. I worked hard payed my taxes andh bought a house well within my means. Still, within about one year my home was 48,000 underwater because of gross criminal activity within the banking and mortgage arena. Now, don't get me wrong, I am not looking for the government to send me a check. However, since I bought a house that was priced well above it's real value, due to white collar crime. Why should I be penalized for playing by the rules? For instance, if I were to be forced into a short sale situation two things will happen: First, I will be taxed on the amount that is left after the home is sold. Even though the house was never worth what I payed for it, I will be taxed on the left over amount as kprofit! The banks we bailed out with our tax money see to it that I accept the underwater amount as profit via a 1099 tax form, and I will be expected to pay taxes fir the crimes of others. Secondly, my credit score, which is in the eight hundreds, will be hit with about a three hundred point drop. Now, all I want, if forced into a short sale, is to avoid being penalized on my credit score ... that is it, no penalty for selling my house for its actual worth. The real price I should have payed for the house in the first place. Not the inflated price set by the criminals who helped cause a world wide economic meltdown. And, by the way, I payed a 20.000 dollar down payment that I lose if I short sell my home. I simply believe that fairness is in order here.... Not a hand out just common sense fairness. So, help me understand why I should be penalized for playing by the rules.

“Help me out if you will...” From this the ultimate conclusion is that I and all other taxpayers should absorb your loss. Sorry life isn’t designed that way for free people. I have had gains and losses and have enjoyed and suffered with each

If you believe some one committed an act of illegal contract with you the recourse is through the tort system not your neighbors wallet. I lived a life of deferred pleasure so that I could pay off my mortgage as soon as possible and I live in a very modest house. Did fix rate mortgages and saved like crazy so that I could retire with some independence. My saving habit got me through several bad times where I was unemployed for a s long as a year due to conditions outside of my control. I now don’t have a mortgage. But I also don’t have a big house in a nice neighborhood.

I feel for your circumstances I truly do but markets come back. At some point in the future the house value will return and turn into a gain I can assure you of that.

Because the government is irresponsible is no reason for us to be irresponsible. Life is not fair things happen to us outside our control all the time. How we cope with the circumstance tells us who we are.

There is no such taking as Fairness. No two people would define “fair” in the same way. Fairness is more about spreading individual pain to others than any morally worthy value one might assume it has.

I truly wish you the best and pray for Gods help to see you through this traumatic episode.