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Edited on Mon Nov-24-08 10:04 AM by SeeHopeWin
It is really that easy...This whole thing was caused by the bad mortgages, people defaulted, banks defaulted, governments are about to default.
There are only about 3 million bad mortgages out there...Buy all of them, own these homes, right FUCKING NOW!
People can keep making payments to the government (use Fannie and Freddy for this)...etc. Rate can be whatever people can pay, about 4% or so would work. Give them 40 years term if you have to...etc.
Doing this would: stop foreclosures, halt the slide in home values, pay the stupid banks some money for the bad loans, keep the poor people living there, stabilize everything....etc. One day, 2-5 years from now, the govt. can slowly start reselling the homes/loans - for a profit.
We need to stop giving money to this guy and that company....etc. MANY MANY more are going to fail, we can't afford it you stupid people!
:mad:
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