mortgage bailout

March 15th, 2009 by golfnut

The big banks have been given tons of money and I see no change at all. Why not give the money to the homneowners first. you don’t have to physically give it to them. Say Joe Smith owes 100k on his house. The Smith’s meet the criteria (to be determined) to have their mortgage paid off. The bank that holds the note receives the 100k, the Smiths can now do what they want with their monthly mortgage payment. Maybe put the money in the bank, buy a car, invest in stock, etc,etc. This is truly rebuilding our economy. For those who can’t buy a house or don’t own a house - pay their rent for 2-3 years. they can now save their current rent payments for a substantial down payment on that “amercan dream”. If they don’t save let them continue to rent - they had their chance. more money will be spent in such a short time and put millions of people to work.

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