Paul Michael wrote a blog venting his anger about the bailout to help the homeowners that face foreclosures. Personally, I share his feelings. We can’t just award the irresponsible speculators that gambled with the real estate market. But, it’s just beyond us. Everything went out of control, bailout is the only way to protect whatever is left in the economic crisis.

You don’t need to stop mortgage payments to get the help from the banks. Citibank recently announced that it would help the homeowners even if they haven’t defaulted on the payments yet. More on this here. Other banks like Bank of America also announced the same measure to renegotiate the payment terms with the borrowers. If you feel that you need some help in your mortgage payments, call your lender and ask to reduce the monthly payments. If they don’t agree, check with Citibank, JP Morgan Chase or Bank of America whether they can refinance at the better terms. Odds are in favor of you.

Related Link: Worst is yet to come… for Real Estate