Mortgage Relief – A concerned American’s solution to the mortgage melt downs
Posted on December 18, 2009
Filed Under Mortgage Reduction | 25 Comments
A concerned American’s solution to the mortgage melt downs … “Mortgage Relief” “Mortgage Reduction” “Mortgage Mandates 4.5%” “Stop FORECLOSURES” “Balloon Payments” “Excessive Interest Rates” “Economic Crisis” “US Economy
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By N2H
thx!
You should speak to a professional. I am far from that. I went through the same thing as you years ago.
Zeitgeist is flawed. The Vatican-Pope-Jesuits-illuminati run the world. they have all the judges, attorneys, doctors, major corporations, etc. all in their back pocket. bought & paid for, etc. our country is no longer free -we live in tyranny! truth an obscure thing, Oppression & lie is the norm. Were all slaves- our masters, the elite, r at least 50 years ahead of us in knowledge, technology, info., secrets & r using all of it against us!
Go here:
truthknowledge. com
warzoome i got a question. when i finally woke up, I realized, why am I living in such a huge house by myself w/ this huge loan. I figured out cheaper ways to live & want to live more below my means and want to sell my house. though i don’t believe i’ll be able to sell it now for what I owe on my loan. I might have to owe 20k. would it be better to just stay in my house for now?
I agree but I reckon 4.5% is still too much. It should not be no more than 2%-0% and all unsecured loans should be wiped out. If you want to know more about what I reckon you can watch me at JonGorskikhLIve.
Borrowers who are in ARMs are terrible payers, you can modify thier loans to a 4% IR and they will still falling behind in their payments becuase they are terrible payers, these people dont know how to handle thier debt, they want more and more without making enough. I reckon these people should learn how to handle debt before getting a mod.
the problem with a flat, government enforced mortgage rate is not the stability issue. that is indeed a benefit. the problem is access. that rate, that percentage figure, represents the bank accounting for the risk of a default (this is essentially self-insuring). The lower the enforced rate is, the fewer people the bank will feel safe lending money (only the best off financially; the least risky). the market is more efficient than the gov in finding the optimal rate. there is no panacea.
Hi pmango1000! Here…let me paste an email sent recently:
WeejeC: I agree with you. It would not affect me since I am 75 years ancient and my house is paid except my house hopefully would go back to its original value so that when I would have to go to a senior home I could afford it.
Since I have family in Europe please note the following rates:Switzerland 2.5%;
Sweden 3.5%
It would help wouldn’t it?
Sincerely,
R. Rickenbacher
Hmmm. How are Swiss banks doing?
weejec: since gas prices fell over 50%….discretionary income HAS gone up and FAST…that average American who drives 1000k miles a month is saving abut $100 a month compared to the height…it just needs time to reflect in the economy…we will be ok…but if the government starts mandating the interest rates that banks can charge….it would be disastrous as many bank would get out of that business
cuadrature; you and my brother Caleb are convinced of the NWO, Illuminati, Masons, Bildeberger, Plutocratical conspiracies. (I’ve seen Zeitgeist 3 times if that helps). At this stage of the game, I don’t know WHAT to reckon. It’s hard to believe what has happened to our country in just MY lifetime, but since you mentioned our being duped since the FedRes of 1913, how ’bout the subsequent JP Morgan engineering of the depression…deja vu, perhaps? Who knows WHAT or WHO to believe anymore?
Weeje, at this point you should realize that the current global economic meltdown has been intentionally engineered! The secret elites of the world (Masons, Illuminati, etc.)wish to collapse the dollar and establish a “New World Order” of things. Do some research on the Federal Reserve and fractional reserve banking to see for yourself how the American people have been dupped and robbed since 1913, the year the FR was fraudulently established by congress with the blessing of president W. Wilson.
Oh NO! Say it ain’t SO! Yesterday I heard on CNN, (?), that some REPUBLICANS are all for doing an across the board mortgage rate cut to 4%. WHAT?!? I mean, I heard Steve Forbes suggesting all FHA loans be reduced to 4.5% last week, but ALL mortgages reduced to 4%? The reasons these Republicans gave were the same as mine…more discretionary income helps the economy, more property taxes get paid, more likely that banks will see more of their loans paid than dropped. Hmmmm. Stay tuned!
Hey Wazoome…thank you for your GREAT email…I’m still going through it and your tale line by line, with intentions on addressing it in further depth, but in the meanwhile, your IDEAS, (if you were President), are FANTASTIC! Some I agree with heartily, others…I’m not so sure. I mentored 4 high risk latino youths for 14 years…we ran into problems with our corrupt police department with one of the boys, (RAMPART=”frame the innocent”) , so I know of what you speak. The tables are tilted.
kleinchris; You’re right, life is NOT honest, but made less honest when the perfect financial storm has hit so many. Many people lost their jobs or had their hours cut, but the bills remained the same. Their emergency funds are probably exhausted, their investments fizzled down to 35% of their worth, & many banks “cold shoulder” efforts to renegotiate loans. I have friends with A+ credit for 20 years suddenly hit the wall, & the banks are NOT helping! Personal responsibility goes only so far…
The U.S. govt. could RAISE taxes on imports to keep U.S. made excellent competitive in pricing here. There is no reason Toyota should have the same benefits as Saturn if the parts are made outside the country. That would motivate the sales of American manufactured products and bring businesses back to our shores. I’m suggesting that everyday Americans are the consumer market and if they have jobs, they will buy and beef up the economy. If not, the economy remains in a near depression.
How would interest payments not realized bankrupt those banks? This is not money that secures any real debt, it is made up money. They could stagger these loans to offset one period and take a write off on it. I agree about the falling housing prices though. Maybe not so excellent for those who chose terrible loans, but fantastic for people like me who want to invest.
wazoome: 6 months no interest payments would bankrupt those banks for sure…some banks are not even in position to give ONE month of interest free. The loss has to be REALIZED at some point. Really falling housing prices is excellent because then more people can afford housing again…given interest rates stay low
wazoome: right me if I am incorrect… The US government ALREADY taxes imports, right? …how will it change anything? Add a tariff to US company’s goods and that tax is passed onto the CONSUMER…its inflation no matter how you look at it. Outsourcing is a REACTION to our government’s actions and the need for cheap labor…are you fighting for the US to have MORE menial labor jobs or sweat shops?
Here I disagree. I reckon the govt. should mandate banks that made terrible loans provide a 6 month (one time only) period of interest-free penalty to pay the principle down on loans. Let people catch up on their loans & not lose homes. Hold this interest free time for repayment when the economy self corrects. Since interest is in effect made up money, not money held on deposit. That way the taxpayers don’t take on the responsibility for these terrible loans & terrible borrowers during this tough economy.
Jeanie.. Life is not honest. Where is personal responsibility in all of this? Why didn’t the people who are now affected by variable rate mortgages, get a fixed rate mortgage a few years ago? if people lost their jobs, why didn’t they have an emergency fund saved? if they didn’t perhaps they should have never bought a house. Now it is in the best interest for the banks to ry to work with customers on refinancing select borowers, but that should be the banks choice, not the government
And that all of this is painful for some is offset by the fact that many will be elated when they can finally buy reasonably priced homes and afford them, like our parents did. That is a win-win situation for America.
Bingo! The housing prices escalated to surrealistic values that would NEVER sustain the same level of purchasing for long. This was plotted in the 70’s by a group of real estate professionals and zoom it took off making many people very wealthy. The smart ones got out before the inevitable collapse. Others gambled and lost. Now it’s time for sanity and lower home prices will stimulate sales once again. That’s basic economics.
The fundamental problems is that we built too many houses and that currently the houses are valued at prices in which are not aligned to people salaries.
The solution is really quite simple. We need to let housing pricing fall to a level in which people can afford to buy them. People who over extended themselves by buying a house they cannot afford need to either downgrade to something they can afford or rent.
Will this process be painful for many people? Absolutely. But this has to happen
Here’s another solution worth looking into…would like all your opinions…a guy by the name of Frank Evans has another thought…his video is called A Mortgage Relief Program for US Homeowners…look over to the right and scroll down halfway…sam9657, Wazoome, Indiattic, pmango1000…let’s find some solutions, or…should we just wait and watch to see what happens in the next year? You all are very smart…post your solutions/suggestions!
And THANK you for caring enough to write!
Exactly, because unlike banks that use nonexistent interest money to exponentially grow profits, individuals can’t do this. Unlike banks, we can’t use debt notes to issue credit, and increase the amount of fiat notes available in the economy as a reaction to worsening economic conditions. We are stuck with the fiat notes as tender and the inflation that accompanies that. That IS a hidden tax.