So what’s the intent here? Is it to pay off everyone’s mortgage, give us all new government backed mortgages? Is this a government takeover of all existing mortgages?
Where does the money come from to pay off everyone’s mortgage and then start them over with a new mortgage? That will cost into the trillions of dollars up front. Who has that kind of money? (The US Treasury does not have that kind of money, as we’re running trillion dollar plus deficits now. There is no money in the government checking account)
They don’t need money. Printed money is obsolete. It is just a bunch of x’s and o’s in a computer at that amount. Just move a few 0’s around here and there and PRESTO...housing problem all fixed.
I dont get it
they hype about putting money in every homeowner’s pocket
and then talk about taking it back out with the other hand by eliminating the mortgage deduction
d.oh. where my cheese go?