Do not make decisions based on fear, just good info. Once you have the info, you can then make decisions based on solid information.
P.S. Dave Ramsey says your mortgage should never be more than 25% of your monthly income. I agree. I say buy low, look for great values, and never buy high!
If we go over the cliff.... Most middle class families can expect to pay up to $2000 more in taxes?
I think that was what I read.
If less than $200/month makes or breaks your deal.... I would be worried.
If you are currently under contract to buy, and are seriously considering terminating your purchase agreement, you should consult with your realtor and/or real estate attorney to fully understand the consequesnces of default, unless you have purchased an option to terminate that has not expired or have some other valid means to terminate withot default.