[XR7]

Hey, really.
If they’re gonna bailout banks and the UAW - why not pay-off everyone’s mortgages while they’re at it?
What’s the problem?
It would only take about $1.2 trillion to pay-off every single-family occupied home mortgage in the US.

And, not just some program to REFINANCE, but to PAY IT OFF!
Instead of giving it to banks and automakers, why not just give it to the homeowners so every home in America will be free and clear?
Then if a depression/recession hits, at least everybody’s home is paid for.
Why not?

[expatpat]

Redo the math — it’s probably around $25 trillion - a he11 of a lot of $$.

[expatpat]

What about the one’s who have paid off their mortgage loan? Your suggestion would be very unfair to them......

[RichardAubrey]

Mortgage debt is the US is substantially higher than $1.2 trillion. I think the total mortgages guaranteed by FNMA and FHLMC exceed $4 trillion, not to mention the unguaranteed loans plus the jumbo loans (non-conforming).