[imagine2frolic]

That is why I say let the dust settle, and then MAYBE lower the rates a BIT. I also agree that lowering rates now might give a false security.

I am one of the lucky ones.I sold my business 5 years ago, paid cash for my 3 yr old boat, took 4 years off of work while I am still healthy enough to sail the oceans effectively. Came to Florida, and paid cash for the house. Before I ran out of money I decided to go back to work. Took cash out of the house, and what is explained above is my current situation.

The past couple of months has me wishing I had kept on sailing. I would be in the South Pacific by now with a healthy bank account. Instead of wondering what the next move will be. Hindsight is always 20/20, but I have always taken responsibility for my decisions, and worked my way through them.

People hear what they want to hear, and the mortgage companies were telling some lovely stories. Even BofA was selling the future to me as if things were going to keep on rolling. I took the fixed rate for fear it might not. The ones who accepted the loans will in one way, or another accept the responsibilty. Unfortunately many will be whining. The ultimate responsibility is on the one who borrowed, IT'S IN THE CONTRACT.