Glenn Smyly
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To help people keep their homes and avoid Foreclosure we suggest the Federal Government should take the 800 Billion Dollars in Bail Out Money and use it to pay off peoples mortgages. When they pay off peoples mortgages the banks get the money they need to stabilize their business and people get to keep their homes.
The Government then files a lein on the home for the mortgage amount so if the people sell their home the Government gets their money back. The Government can also asses a 10% surcharge on the persons income tax to reduce the amount of the lein each year. Since the people no longer have to make a house payment they then have enough money to pay the rest of their bills.
This way everyone wins, the banks get their money, the people keep their homes and the government gets paid back the money they paid out to satisfy the mortgages.
A Solution that could help solve the Mortgage problem. Thanks, Glenn Smyly
