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Find a lender that will help you make the best decision and make sure you fully understand the loan you choose. There was also a while when I was living month to month and finally just got rid of my car so I could start having some savings. If one of the parties breaks the agreement, that party has "breached the contract" and the law of contracts must then be used to enforce any remedy that may be available. See Cotterman and Pearce,The Effects of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation on Conventional Fixed-Rate Mortgage Yields,pp. AM on March 6 Chrysler is a bad example of your point, all they needed was time to get their act together and they didn't cost the government anything.
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If not, how do you think rising property taxes should be contained.