http://facingthemortgagecrisis.org/?p=321 Information and resources on foreclosure in Michigan, brought to you by Michigan Radio and Detroit Public TV Sun, 22 Aug 2010 18:29:47 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://facingthemortgagecrisis.org/?p=321&cpage=1#comment-47 Susan Callahan Thu, 16 Jul 2009 16:41:37 +0000 http://facingthemortgagecrisis.org/?p=321#comment-47 It is my opinion that Washington is still not getting “it.” If I may suggest a slightly different approach: trust the American People. Politicians talk directly to us, but have yet to deal directly with most of us. A real crisis demands extreme measures. --Change ALL mortgages to 4.5% fixed --Change NOTHING else is about the mortages Many can meet the initial rate, but not the huge ARM rates With a few key strokes, a great deal of money is circulated If this change is for a limited time (e.g. x years,) x years from now, we will have a huge jump in rates. Counterproductive. - --This would also relieve homeowners from the gouging the mortgage companies are practicing today via their fees and inflated costs. -The difference between the old rate and the new, for the length of the loan, would go directly to the mortgage company from the government -The announcement date should be a day after the selected date -This would put real dollars (not the $13/wk for only working people) in the hands of all homeowners; reaching many more Americans -This would put real dollars in the hands of the mortgage companies When they whine, and they will, give them an additional dollar amount (i.e. $50) to cover their “costs;” writing a program and sending out a letter to each homeowner with their new payment amount -The bankers/government/financiers routinely make this too complicated, with too many rules and too many people looking for ways to get around those rules. No forms, no clutter and fewer people asking “where’s my help?” --This is a direct attempt at a solution to get real dollars in the hands of the greatest number of people as soon as possible. Thanks for listening. It is my opinion that Washington is still not getting “it.” If I may suggest a slightly different approach: trust the American People. Politicians talk directly to us, but have yet to deal directly with most of us. A real crisis demands extreme measures.
–Change ALL mortgages to 4.5% fixed
–Change NOTHING else is about the mortages
Many can meet the initial rate, but not the huge ARM rates With a few key strokes, a great deal of money is circulated
If this change is for a limited time (e.g. x years,) x years from now, we will have a huge jump in rates. Counterproductive. – –This would also relieve homeowners from the gouging the mortgage companies are practicing today via their fees and inflated costs.
-The difference between the old rate and the new, for the length of the loan, would go directly to the mortgage company from the government
-The announcement date should be a day after the selected date
-This would put real dollars (not the $13/wk for only working people) in the hands of all homeowners; reaching many more Americans
-This would put real dollars in the hands of the mortgage companies When they whine, and they will, give them an additional dollar amount (i.e. $50) to cover their “costs;” writing a program and sending out a letter to each homeowner with their new payment amount
-The bankers/government/financiers routinely make this too complicated, with too many rules and too many people looking for ways to get around those rules. No forms, no clutter and fewer people asking “where’s my help?”
–This is a direct attempt at a solution to get real dollars in the hands of the greatest number of people as soon as possible. Thanks for listening.

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