Posted on 10/03/2008 8:56:33 AM PDT by reaganaut1
Amend [the bailout bill] to allow the Treasury to provide direct mortgage assistance to all American homeowners.
If the Treasury were to pay first $250 of every American's primary residential mortgage each month for five years, the value of all mortgage-backed securities would rise immediately. The housing market would stabilize and the banking system with it.
The $250 monthly payment would be made to all homeowners who pay the rest of their mortgage bill. It would help families and creat a strong incentive for them to pay their mortgages.
...
The cost would be manageable. There are roughly 40 million mortgages, accordinly the cost of this package would be $10 billion per month.
...
A direct handout from taxpayers to pay peoples' mortgages is absurd. I bet some Democrats would support this idea, except that they would phase it out for the "rich" (people who actually pay taxes).
Unlike most Freepers, I support the Paulson plan, in part because I think mortgage-backed securities are selling at fire-sale prices and the government probably will make a profit even if it pays slightly higher prices.
Can someone from the government come by to wipe my rear end a few times per day?
“Wipe my butt!”
(It’s funnier in a Midwestern twang.)
“A direct handout from taxpayers to pay peoples’ mortgages is absurd.”
Why is this so absurd?
What about those of us who have paid off our mortgages? No one helped me do that. Do I still get the $250? What a crock.
“It would help families and creat a strong incentive for them to pay their mortgages. “
Giving the stupid $250 a month won’t make them responsible
Giving the responsible but broke $25 a month does not pay the mortage or rent
What’s a 4 letter word for folks who cannot afford mortgage paymemts?
R-E-N-T
Didn’t they already pass a $300 billion bill to help homeowners in foreclosure? Did that money already turn into post-consumer lite beer?
If you’re gonna advocate stealing my money to give to deadbeats would you at least have the good grace to do it in person?
Why is Socialism absurd? Dude, you may be on the wrong forum.
Oh boy! Free money for everyone!
How do you keep it down to 40 million current mortgages?
Financially it would make sense for every homeowner without a mortgage to immediately take out a mortgage with a $250/month payment. The government would pay all of it and the homeowner can earn interest on the money removed from the mortgage.
Make the beneficiary qualify. A "date in effect" clause would get around your concern - i.e., to qualify, the note must be dated Sept 23, 2008 or before. Other qualifications could pertain, the most likely being a form of income or means testing.
The gap between working for a living, and just taking the handout is getting smaller and smaller. The harder you work, the more they take. The less you work, the more they give.
None of those peopls should be considered home owners, they are real estate squatters, throw them out.
No one is entitled to a home unless they pay for it.
Isn't it better to spend the $$ bailing out the people who were duped by the banks into believing they could afford these loans, than to bail out the banks, CEOs, and Wall Street fat cats?
I am against the bailout completely, but it seems as if it is going to happen no matter what we say or do....If so, I'd rather bail out struggling people that rich CEOs and the like.
“The harder you work, the more they take. The less you work, the more they give.”
Eliminate all handouts for all reasons, food housing, or health care, none of which anyone is entitled to unless they pay for them.
“What’s a 4 letter word for folks who cannot afford mortgage paymemts?
R-E-N-T”
And what makes you think that they’ll pay the rent either?
Believe me, they won’t :(
Why do you think it’s not absurd? Do you think that, maybe, just maybe, people who enter contracts to buy houses should honor the contracts and pay their bills? Do you think that, maybe, just maybe, the Constitution doesn’t authorize the Federal government to steal from the taxpayers to pay other folks’ mortgages?
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