Save Our Economy-A One Year Mortgage Holiday!

saveoureconomy.com/ ^ | A few months | saveoureconomy.com/

[DonaldC]

I liked the tax holiday idea better.

[jws3sticks]

I’d sure be for that, to help me keep my house.

[668 - Neighbor of the Beast]

No cost really to the banks or anyone.

You can't be serious.

[alice_in_bubbaland]

Me too, we paid off our mortgage in December (10 years early), so it won’t help me.

[Tijeras_Slim]

I’ll live up to my responsibilities, thank you.

[silverleaf]

income tax holiday mo’ betta

the govt is addicted to spending, phantom money it doesnt really have anyway

[dalereed]

throw them out in the street!!!!

Pay or lose!

[King Moonracer]

But it won't disproportionately benefit minorities, so Obama won't do it.

[Dubya-M-DeesWent2SyriaStupid!]

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.

[KarlInOhio]

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?

[Dr. Bogus Pachysandra]

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!

[VegasCowboy]

No cost really to the banks or anyone.

Remember this: there ain't no such thing as a free lunch.

[Beagle8U]

WoW! Are you a socialist that stumbled into FR by mistake?

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!

[KarlInOhio]

Day 1 of the post mortgage era: Realtors' offices are largely empty as banks have made it quite clear that they will not be granting any new mortgages for the next year and afterward will require 50% down and much higher interest rates to protect themselves against another mortgage "holiday". The only people able to buy houses are those with cash or cashiers' checks, with the cashiers' checks looked at suspiciously because no one knows if the banks they are drawn on will be in business tomorrow.

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.

[razorboy]

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.

[Dubya-M-DeesWent2SyriaStupid!]

Yes, I am serious I know of two people that were laid off work/and or applied because of any change in income- and they notified their bank and their payments went down 2-3 hundred a month, which helps! This is called forbearance. Who pays for it? Not the homeowners. so I really don't give a rats ass. It saves on foreclosures!

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.

[2001convSVT]

I also agree with your idea of a tax holiday! but how long? 1 month, 3 months, half a year or a full year?

[Dubya-M-DeesWent2SyriaStupid!]

A full year of a mortgage and tax holiday and if gas does not go up further we MAY all be ok.

[Dubya-M-DeesWent2SyriaStupid!]

Can this go in front page news, please? To get the word out?