The fact that the housing market has hit a bump in the road of stability is an understatement. The banking industry along with the real estate industry restructured the methods of lending money so more people could buy homes. These risky lending practices finally imploded and millions of people are losing their homes. Most of these people were sold on the fact that the housing market would continue to appreciate as it has done for over thirty years, so there was a sense of security and trust involved in their decision to but the home of their dreams. Now we all see the folly in those assumptions and the country as a whole is suffering from a depressed real estate market.

Bailout has become a common term these days; everybody needs some kind of bailout. Insurance companies, banks and the stock market have jumped on the federal bailout wagon and got large injections of cash from all of us. There has to be a home loan bailout program established, or at least that’s what some members of government want, so the homeowners that made a risky choice and are now experiencing one probability from that choice, can dig out from under the mess of foreclosure and bankruptcy.

We are watching the face of the democratic system of finance and economic growth change before our bloodshot eyes. The insurance, banking and real estate businesses are rethinking their business models and a new form of borrowing and lending will surface. Gone are the days of buying a home with no down payment and not enough income to support the note that is payable each month. Credit will be harder to come by and the cash method of buying will once again be the method of choice for millions of Americans.

The home loan bailout program will probably become a reality soon. The housing market has such a drastic effect on the economy; congress, out of fear, will pass some sort of relief package that helps those who need it. After all, we all make choices we regret and want to do over again. It’s not the time to judge, it’s a time to change how we do business, so the word bailout means what it has always meant in our system; bailouts start with us. Business practices that hide, restrict, force or deceive will no longer be tolerated in our emerging system of finance

It is our responsibility to know what we are purchasing and what the consequences are before we sign on the dotted line. The control of our financial future is our responsibility and we need to choose and buy what we can afford, based on our current resources not some paper asset that may develop in the future.

There are so many different beliefs involved in a home loan bailout program, it will be debated long after it becomes a reality and that’s okay. From the contrast of losing a home, our belief system expands and we become aware of the different choices that do make our system a democracy. We can get back to basics, even though those basics will change in many ways. They still provide a foundation for the most sensible home loan bailout program of all: self-control.