Upcoming Call-in Show: 1pm on 7/16/09
At 1pm on Thursday, July 16, Michigan Radio will air a call-in show for our Facing the Mortgage Crisis project. We will start a live web chat before the show at 12:30pm to take your questions and comments. You can use the box below to set an email reminder for yourself.
We will also host a Twitter chat using the hashtag #FTMC to track the conversation. All you need is a Twitter account and you can use a site like TweetChat to participate. This will work like a web chat, except every message remains on Twitter permanently.
You can also follow the web chat as an RSS feed. Stay tuned for more information.
One response so far
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.