Lets see, I have no payment now what will I do with the cash.
The banks have no outstanding home loan debt, what will they do with the extra cash?
New loans come with much less risk of default, so why not take the chance.
People who now own their homes may upgrade or improve, helping skilled workers. Come on guys the way out of this mess is not that hard! It’s by helping us "little" guys!
Tell me, just how the hell will that put more power into the hands of the corrupt politicians that we have in office? What were you thinking, that they actually care about anything other than consolidating their power?
90% of all home loans could be paid off with the billions spent to "help the economy" Why not just do that?
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What special interests and pet projects could be subsidized by doing that???
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Because the government wouldnt be able to get their grubby little hands on the title to your house. That is what this is all about. They want total control over banks and the auto industry. That way every dollar is controlled by them. Just wait, it aint over.
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Too simple, the government doesn’t, and will never, think that way. Besides, only a small portion of that "Billions" will go to help the economy. Most of it is pork to get the politicians to vote for it.
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So the banks get their money, but how does that stimulate more jobs?
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The problem with that is people will just over spend again and we will be in just as bad of shape. I’m not saying I disagree with you though, that would be a decent temporary fix.
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Your correct the money should go to the consumer. The elites don’t get their pockets lined from the average joe so they may throw you a few scraps now and then just to keep you quiet. These bailouts were an easy choice and the money can’t be located because no one wanted it found. I’ll bet there was money under the table that found it’s way into a freezer near you.
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Who would own the homes which attached to those mortgages?
Would you let the current occupants continue to live there after defaulting on the mortgage? Would they, in effect, be given a house to live in at no personal expense?
Would you let the banks own those houses? Do they need to be rental agencies as well as bank?
Would you let the government own those houses? Government housing projects are notorious breeding grounds for poverty, drug use and violence, and gangs.
The short story is, you’ve got a lousy idea there.
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Forgive me but that would be a bit unfair to those of us who go to work and pay taxes but don’t own homes. I’m not confident of your numbers. I think the total of US mortgages is far more than $800 billion,
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Works for me
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Tell me, just how the hell will that put more power into the hands of the corrupt politicians that we have in office? What were you thinking, that they actually care about anything other than consolidating their power?
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