I have zero sympathy for people who signed on to so-called “liar loans” and now — surprise, surprise — are behind on payments. Unfortunately, those of us who made responsible mortgage decisions will probably end up bailing out these folks.

During the housing boom, liar loans were especially popular among investors seeking to flip properties quickly. They were also commonly paired with “interest only” features that allowed borrowers to pay just the interest on the debt and none of the principal for the first several years.

Even riskier were “pick-a-payment” or option ARM loans – adjustable-rate mortgages that gave borrowers the choice to defer some of their interest payments and add them to the principal.

While some borrowers were aware of their risky features and used them to gamble on their home’s value or pull out money for vacations, others like Salvatore Fucile insist they were victims of predatory lending.

I have no problem providing a helping hand to those who find themselves in a tough situation through no fault of their own. But I have a big problem providing an easy solution for people who knew better.