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MR/MS POLITICIAN - If You Want To Get RE-ELECTED Adopt This Proposal

By
Real Estate Broker/Owner with Mills Realty

The US government has bailed out major brokerages, the auto industry and banking institutions.  In reality the American tax payer has bailed out these poorly run institutions which many now are turning huge profits.  

With mid-term elections on the horizon isn't it about time that the politicians reward the responsible American tax payer and homeowner for all of their efforts in supporting the American economy on their backs?

You say you want to get re-elected.  Well here is a proposal that will surely win you votes...

All residential mortgages shall have a one time adjustment to their interest rate fixing that rate for the remaining lifetime of the current loan to 3.5%.  All variable rate loans will now be fixed for the remaining life of the loan at 3.5%. This adjustment to the interest rate is for ALL residential loans, owner-occupied or non-owner occupied.  This one time adjustment is automatic and there is no application or fee.  If you are currently behind on your payments your loan will be recast at the 3.5% rate and reset into a new 30-year fixed rate mortgage.  It makes no difference if you have negative equity or if you are one of the responsible homeowners who is actually current on their mortgage.  Everyone benefits!

Mills Realty, Simon Mills

The benefits would be wide spread and many more homeowners would have the ability to stay in their homes and remove the threat of foreclosure.  Sure...the banks will complain, but when they were in trouble their hands were out looking for some help.  It is now time to return the favor to the American consumer.

Would you vote for a politician who had the moxy to bring this up and thwart the lobbyists trying to protect the interests of the big banks?  I know I would.  

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Mills Realty on Facebook Simon Mills on Twitter Simon Mills on LinkedIn Simon Mills on ActiveRain

 

 

Mills Realty - Simon Mills Realtor


Simon Mills of Mills Realty is in the top 1% for listings sold in California.  He has pioneered a low cost yet full service listing that is revolutionizing the way people buy and sell property.

(818) 642-2224

Simon@MillsRealty.com

Comments (22)

Sherilyn M. Whistler
ERA Herman Group Real Estate-NoCo - Loveland, CO
Need a Referral, Call Me !

Simon - I think the banks can help the consumers BY at least handling short sales in a timely manner, making the process more streamline and by stalling foreclosure proceedings more easily if you are in the middle of short sale process. I think the 2nd mortgages need to stop acting like they are the first and play ball to close these deals and then EVERYBODY WINS !!

Oct 01, 2010 12:45 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Just to be clear, when you say "all" do you have in mind that homeowners with plenty of equity who make their payments on time shall get this new 3.5% interest rate as well as those who borrowed 100%+ LTV (now potential short-sales) and don't make payments on time?  If so I could get behind this. 

Oct 01, 2010 02:20 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Sherilyn - I'm dealing with the same short sale frustrations on a daily basis.  This proposal would satisfy the 2nds as the interest rate would just be reset allowing the homeowner to make their payments.

Margaret - Absolutely, ALL.  Why shouldn't a responsible homeowner who is current benefit.  When the government was handling out money to encourage lending that didn't happen there were plenty of financially sound banks that had their hands out too.  This lowering of the rate idea would be for everyone!

Oct 01, 2010 05:51 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Sherilyn - I just noriced the reblog...thanks for helping spread the word!

Oct 01, 2010 05:54 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Sounds like something that a lot of people would approve of.

Don't see why not.

It's time for those that do right to be rewarded.

Oct 03, 2010 01:59 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Judi - Exactly!  Everyone should benefit.

Oct 03, 2010 02:16 PM
Randy Randolph
RSVP Real Estate - Redmond, WA
Uber Broker , Redmond, Kirkland, Renton, Short Sales

Simon, this is a bold suggestion, but it is not feasible. Writing down the interest rates on 10's of millions of loans would cripple our economy. Mutual Funds, Pensions, Retirees that own these mortgages count on the income from the interest. By doing an across the board rate cut on EXISTING contracts it would impact the amount of money this group of people have monthly to live on.

Hope about instead of an interest rate cut for homeowners, we suspend the payroll withholding tax on all income up to 250k for 4 years? That would give EVERYONE how earns a paycheck an instant pay raise. With more take home money in people's pocket, they would be able to afford their mortgages, buy more consumer goods, buy more real estate or even save more money. Each and everyone of those things are needed in order to get out of our mess.

Many people will say we can't afford to have such a big tax cut for 4 years. I ask, can we afford to have 10% unemployment and a struggling economy for the next 4 years?

Higher deficits would be temporary. We have had them before and we have also paid off the national debt before.

Oct 04, 2010 02:58 PM
Randy Randolph
RSVP Real Estate - Redmond, WA
Uber Broker , Redmond, Kirkland, Renton, Short Sales

Oh, and 1 more thing do we really want to Re-elect the same group of people that have been responsible for creating this mess? Vote out all incumbents!!!

Oct 04, 2010 03:00 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Randy - Thanks for the comments.  There are positives and negatives to all stimulus plans.  If the result of writing down interest rate is investor returns are less than expected then so be it.  These "investors" who took bailout funds with the instructions to lend had no concern for the American homeowner.  It is now time for them to repay by helping the American people maintain their homes through affordable mortgage rates.

Oct 04, 2010 03:44 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Vote for Simon Mills.  This advertisement paid for by the committee to elect Simon Mills.

Oct 12, 2010 11:22 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Charita - :-)  I'm not sure my past could handle the scrutiny!

Oct 13, 2010 03:30 AM
Mario Gattavara
Coldwell Banker Lifestyle Properties - Oroville, CA
(Lake Oroville Area)

Great idea.

Something needs to happen.

We will see in the coming months!

Good luck & success to you Simon!

Oct 14, 2010 03:15 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

I agree with Charita.  Why aren't you running?

Oct 19, 2010 10:35 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

That is fine for government backed loans, but I don't think we should force private companies to do this unless they want to.

Oct 20, 2010 07:35 AM
Simon Mills
Mills Realty - Toluca Lake, CA

Mario - Thanks for the comment and you are absolutely right, something does need to happen.

Jane - :-)  I'm much happier selling real estate!

Todd - Are there really any private banks left?  Isn't the government or specifically the American tax payer the largest majority shareholder in most of the large banking institutions? 

Oct 20, 2010 10:12 AM
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good morning Simon!

Oct 26, 2010 03:09 AM
Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

Simon---Sorry I missed this when you posted it!!  I have been saying this for a long time to anyone who would listen.  I just have to believe that this would help so may people who are struggling and many who are not----causing everyone to have and spend more money and help our economy.  You should consider running.  Many sins can be forgiven and overlooked when you are in public office.  Think about it! :-)

Oct 27, 2010 06:21 PM
Simon Mills
Mills Realty - Toluca Lake, CA

Pat - Thanks for the support.  "Many sins can be forgiven and overlooked when you are in public office."  That is until you take a stand on an unpopular position and then all of those skeleton magically appear!

Oct 28, 2010 05:39 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

That would make entirely too much sense to turn future non-performing notes into performing notes and get more money flowing through the economy!

Run for prez please :)

Nov 11, 2010 11:34 AM
Simon Mills
Mills Realty - Toluca Lake, CA

Renee - That is the problem with my proposal...it makes too much sense.  Why would we ever want to do anything that made sense!  Thanks for the comment the support for becoming an elected official.

Nov 11, 2010 11:41 AM