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Whups… see.. |
This Solution? … What it isn’t… it isn’t taxpayer dollars… going for the bailout … or… to pay for other pork in order to get legislative agreement on the bailout read on.. à |
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REAL CAUSE of the MORTGAGE BANK FAILURES Here's the deal….. Your government agents (Senators, Representatives, Executive Branch) are advising that there is no money to support lending institutions to support the economy of America to execute well. BUNK!!! {yes the banks 'normal' source of money has all been spent.. yes that is true … so what.. }
The Retirement savings program encouraged you to put a lot of your money into 401K's There was a lot of money to invest. (probably still is)
given there was a lot of money to invest… … investors found property as one of the places where investments could grow… Demand went up Value went up. consequently investors and more investors saw that quick gains could be had in the housing market. Banks got greedy, Investors got greedy, some homeowners got greedy, ..
investing in home ownership continued up demand continued up.. in the terms of the stock market world. the book to share value went haywire (houses sold for what we could not .. really.. in the long term.. afford)
so frenzy hit.. .. and investors got even greedier, again.. (individual investors, banks, & homeowners)
that's when lending got so easy.. anyone and everyone whom got involved for the reason of making money made risky decisions.. and overspent what they had to spend. the price of homes finally got so high and money spent to get that high ran out.. and homes stopped selling.. Bingo.. the card "housing" market collapsed… mmm.. and we are surprised… ? |
What’s Gonna Happen
You cannot do anything about this. Whether 1. a bailout is funded by congress, or 2. all of the over-extended mortgage lenders fail and some other company buys them pennies on the dollar, or 3. we, the citizenry, do something else..
The value of your home that you live in, or other homes that you own for investment purposes is going down.
How much is uncertain.. .. so…
Consider the homeowner’s Bailout Essentially assumes the value of your home goes down as consequence of this debacle and: INSTEAD OF you paying a tax to bail it out to keep the value of your home up (which it will go down anyway)… YOU get a benefit by negotiating the cost of your loan down
And if your home is paid off today and you think this is a good deal for those whom don’t have their home paid off.. And bad for you..
.. this plan continues to reward homeownership and your home value is underwritten and probably will sustain at a higher value than if we pay taxes to try to keep the value up.
Think about it!!!
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the HOMEOWNER's BAILOUT Accept that home values are driven irrationally high. .. and will drop as consequence of any bailout plan. Accept that 'home ownership' is still where we want most citizens to be.. ..creates citizen desire to be contributors in their community and society at large. So.. the BAILOUT law should.. say… simply.. This law applies for one homeowner and one residence, regardless of their home loan mortgage payment history. A single residence homeowner whom: 1. Occupies his, her, their residence 2.
Purchased
and/or refinanced his, her, their residence in the period from May, at his, her, their discretion, execute any one of items 1 through 3 below and/or item 4, provided that he, she, they remain occupants of their single family residence for a term of three years following this action: 1. reduce his loan principle by up to 10% of the current loan value, with reduction not to exceed $100,000.00. 2. be forgiven the interest value of all mortgage payments not made since Jan 2008 to Jun 2008 3. reduce the loan interest rate up to 2% without adjustment to the term of the loan (and/or convert it to a fixed interest rate if previously an ARM or other at up to 40 years ) 4. Further, if the homeowner's original principle mortgage lending institution sells the loan to another, as consequence of any other action or instrument (including default or failure of the lending institution), the homeowner receives "1st right or refusal" to purchase the home at the value the loan would have been sold.
If after executing any of the above actions, homeowner(s) sell or transfer ownership of their single residence within three years, a federal tax of 50% will be levied against the sale of the property. PS Let the rest of the homes return to the banks. if the banks fail, anyone can buy the loan |
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CALL YOUR CONGRESSMENT - Tell him you are seeing GREEN….!!! - Green with envy - Green with the money you want to save.. - Green with passion to get this done right.. |
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