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16 Comments on Revisiting A Simple Idea
Your plan reeks of common sense. As a result, good luck getting either party to back it.
William:
Nice post and interesting thoughts. Hope you have a great week.
Bill, I'm a little confused about how the proposal would help the consumer and/or the housing industry. Could you explain? Thanks.
Doug,
Thanks!
I'm an eternal optimist.
Bill
Alan & Michel,
Thank you!
Bill
Not simple enough for me to understand without further explanation. Maybe I'm a little slow.
Would be a lot less work and cost than foreclosing. The government doing something simple. That would be a miracle.
From there it would just get more complicated.
E J.
The home owners are responsible for their debt not the public!
I'd have held them by restructuring their debit lowering their payments, with current low rates and recasting the term of the loan on 80% of the current value. Then their remaining debt would become a second with a new government loan at little or no interest, recasting the payments or even deferring them for a while!
The current system has cost trillions of non-existent tax payer money and the cost to the tax payer and home owners continues to grow expeditiously!
I belive in giveing a hand up not a hand out.
Bill
Lucin,
We all have times like that!
Bill
Brian,
That it would!
The cost would only be lost interest, but we'd have an asset in those seconds, being governmental they could make it non-discharge able like student loans. We could even allow for substitution of collateral.
It would have allowed people to retain their pried and tax payer's to recover their involuntary investment!
Bill
Bill, lets just say that if a proposal involves common sense in any way, it will not see the light of day.
Now if it were confusing, accomplished the opposite of what it was meant to accomplish, and took several thousand pages to explain, it would be adopted in a heart beat.
George,
It didn't.
I just wanted to compare it to what was done.
Bill
WHat is it that they say about the best laid plans of mice and men? Nice idea, but we never seem to see the good ideas get any play.
Congratulations - This post is now featured in Silent Majority Group of Active Rain!
Melissa,
What concerns me is we may be on plan.
Cratering a housing crises may be a jihad.
Bill
Nick,
I'm honored!
Bill
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