Posted on 05/12/2009 8:12:14 AM PDT by Dubya-M-DeesWent2SyriaStupid!
I think this is an excellent idea. When I first heard of this it was misunderstood as a NO MORTGAGE for a year.It is not. It reduces the mortgage payment and would be LIKE refinancing for free. Alot of people said WHO WILL PAY FOR THIS?
It is like forbearance for all. No cost really to the banks or anyone. The banks would win in the end with alot less foreclosures as more people are losing jobs. The banks WILL BE FINE off of all of the stimulus money they are sitting on.
Click Here: Save Our Economy-A One Year Mortgage Holiday.
(Excerpt) Read more at saveoureconomy.com ...
I liked the tax holiday idea better.
I’d sure be for that, to help me keep my house.
You can't be serious.
Me too, we paid off our mortgage in December (10 years early), so it won’t help me.
I’ll live up to my responsibilities, thank you.
income tax holiday mo’ betta
the govt is addicted to spending, phantom money it doesnt really have anyway
throw them out in the street!!!!
Pay or lose!
I’ll take that too. :) Both of these things is what a good leader (President) would we be doing to truly get us out of the mess. It is not hopeless<——how ironic mister hope left us hopeless) if enough people present both a tax and mortgage holiday idea in a large movement.
So, the people who invested in mortgage backed securities won’t mind getting zero interest for a year? I guess all the retirement programs and life insurance companies will be fine then. How about if someone sold their house but carried the mortgage for the new owner because the bank wasn’t lending? Will the mortgage holiday apply to that poor sucker too?
Silly me! I get no help, no way! I guess I shouldn’t have paid for my house, or my car. Self-employed, and screwed!
What about the thousands of local banks and credit unions that depend on the mortgage income to stay afloat? How will they pay the CD interest that comes from the mortgage profits?
Your plan is nuttier than a squirrel turd!
Most renters of apartments, office and retail space will benefit as well by receiving a 25% to 50% monthly rent reduction relief, to be negotiated between individual owners and renters, if their landlord elects to participate, as most will, in the One-Year Mortgage Holiday Plan. This would give renters a huge economic boost as well.
Yeah, I have a signed lease from my tenant, but I'll cut that price by 25%-50% without being required to? I don't expect that to happen.
How would turning off one of the primary sources of income for banks save our economy? It’s kind of hard to pay employees when you have no income.
Most mortgage companies got plenty of FUNDING believe me- to open up special branches/offices for homeowners assistance. They are not paying for this and most of the banks offering this Ahem.... cough cough...Citi, were maybe ahhhh could have been- cooking their books anyway, so they HAD to clean up before Uncle Sam arrived. In the long run=less foreclosures.
An example Click Here This is already ordered by Obama anyway he stated "one" does not have to be behind in their mortgage to qualify.
I also agree with your idea of a tax holiday! but how long? 1 month, 3 months, half a year or a full year?
A full year of a mortgage and tax holiday and if gas does not go up further we MAY all be ok.
Can this go in front page news, please? To get the word out?
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