If you, like a lot of homeowner’s, are wondering why your taxes are going to pay for your neighbors mortgage when they over bought, you are not alone. If you saw CNBC’s Rick Santelli’s on air rant on Thursday, you are not alone.
Where does it leave those who did not over buy, who pay their mortgage, well Robert Gibbs says it will cost you an average of $1,000 which he says is better than those properties foreclosing and dragging your property values down with them.
Want to know what the values in your neighborhood are doing? Click below and find out: