Re: the us goverment owns your house.
Its more like 50 percent I believe and the US government wont be the ones to call in any debt in relation to the mortgages.
Here in the UK when the government took over Northern Rock, technically people who cant pay are getting repossessed by the government. Thats usually because people came to the end of their fixed rate deal and found either the rates had gone up and/or they couldnt remortgage as there were no more high risk products available. So they started paying standard variable rate, often around 1.5-2.00 % more than their fixed deal.
Its just over 5 trillion worth of mortages so about 50 percent of the US market.
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