The pilot is okay after the accident.

This. THIS is why I have a fear of hot air balloons. I know, it doesn't happen often, and I'm sure it's really cool and blah blah blah. But this video...wow.

Two fishermen were able to rescue the pilot of a hot air balloon during the Michigan Challenge Balloonfest in Howell over the weekend after his balloon hit some electrical wires, caught fire and landed in a lake in Livingston County.

The pilot was flying alone is reportedly okay, and the balloon was recovered from the lake. The Federal Aviation Administration is investigating.