<human>: Give me a shortened version of the text

So, more and more I am hearing about people 'strategically defaulting' on their home mortgages.  

The way I see it (and correct me if I am wrong on this) is that homeowners are fed up with the way banks and the federal government have handled the recent financial meltdown on Wall St.  They are sick of owing $800,000 on a house that is only worth $300,000.

What is think, is tough fucking cookies.  That is the price you agreed to when you bought the home, you signed a contract.  You wouldn't expect the bank to raise your mortgage when the value of your home goes up, why should they lower your payment when value is lost?

Look, I understand that there are special circumstances.  People are losing their jobs and they need to refinance.  OK fine.  I think the banks should work with these people WITHIN REASON, afterall, keeping people in their homes benefits the bank more than foreclosure, where the home will sit on the market for at least year before any one purchases the foreclosed home and any payments are made.  At the same time, I think homeowners expecting the bank to knock off 60% of the purchase price that they buyer agreed to is ridiculous.  

So, serious question for you reddit.  What am I missing here?

And don't give me the old "Well, the banks created this mess, not us."  Homeowners were driving the prices up by agreeing to purchase homes at the inflated prices.  Guess what, thats economics 101.  If something isn't worth $800,000, don't pay $800,000 for it.  Eventually the market will collapse on itself and prices will drop.
<bot>: My neighbors dog shit in my yard, and then my kid stepped in it with bare feet.  She now has a weird looking growth on that foot.  Doctor doesn't know what it is.  What should I do?????