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A Possible Solution to the Real Estate/Mortgage Crisis
I would strongly urge lenders, banks and investors to consider agreeing to adjust notes back to the start rate on the adjusting and ballooning mortgages (or the start rate +.25% or .50%).
Don't pay them any incentive or "bailout" to do so.
They made the bad loans or let them be made. Let them take some responsibility for those actions. The result would keep a huge number of people in their homes who otherwise would lose them, preserve the value of the collateral and help minimize future defaults. True, the investors will get less return than they hoped. But they aren't likely to see their hoped for return on many, if any of these loans anyway. What is better, some return, or none? In real life, if you lend money to someone who you know likely won't pay you back, you usually get nothing. Bailing out Banks, Lenders and Investors is the worst possible message that can be sent to the American Public. The American Public (Um. And the American Government) makes enough poor financial decisions on its own, without needing encouragement that someone will be there to bail you out for your poor choices. Fiscal responsibility needs to ... more

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