Mr. President, I Have a Solution
Posted By admin on February 14, 2009
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The crisis that this country is enduring has created many scars. Many that can be patched by offering a solution to the financial burden that is burning a hole in the average American’s dream of homeownership.
There are many offering there verison of solution. Well, I too, feel that it is my turn to offer my solution.
My solution is for homeowners. I think, a viable solution would be to allow the homeowner to use FHA/VA insurance to pay the homeowner’s mortgage current. The FHA/VA insurance provides protection to the lenders for losses if the homeowner defaults on the loan. The homeowner who pays for this insurance to protect the lender should be able to use this insurance to bring his or her mortgage current if they can prove to the lender that he or she is capable of paying the mortgage once the mortgage is brought current. Utilizing this insurance will remove the burden off of the tax payer for FHA/VA insured loans and put it on the insurer.
For all other mortgages, the mortgage can be renegoitated at the current value and at a better fixed rate.
The mortgage crisis is not going away, so no action will equal disaster. Let’s think outside the box to keep the American Dream alive.
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