Let's come up with a solution!

If by the small chance Paulson and Bernanke are reading this board, why don't we offer ideas for a solution. We're in the trenches and their decisions will effect our lives and livelihoods for the next several years.

I posted this as part of a different message but...here's an idea...

What if everyone's mortgage rate was automatically reduced to 4.75% and everyone's mortgage balance was reduced by 10-15% of their purchase price. Lots of people would be able to keep their homes and the rest of America's homeowners would not feel so bad because they get a benefit for being a good borrower. The banks lose but probably less than what they've been losing. The government might have to send a little sugar to Wall Street but probably not as much as the numbers they've been talking. The fed could temporarly drop interest rates for 6 months to 5% for owner-occupied and 6% for non-owner occupied and jumbo to move inventory, and let everyone know rates will increase by .5% every 3 months until the markets settle. Obviously, the plan would have to be a government mandate. Any thoughts?? Other suggestions??

Let's put our collective brains together and solve all the problems the idiots on Wall Street can't.

Edited: 06/26/2010 at 05:57AM by Shari Posey

Ofgift Gift

· Tucson, Arizona

946 posts
4 awards
50 influence

Sep 19 '08, 06:20 AM

Take back the multimillions that the top layers of management people are walking out the doors with and apply it to one or more problems-whether it's reduction of debts, retirement accounts, increased (mass) healthcare, or other prrograms to help those that so severely suffer through the actions of those people.

I'd enlarge that to include the congress critters, past and present, who wrote or supported the laws that permitted such activity, the bankers and phone workers that had a hand in it.
I, for instance, was relatively okay, even with my small ss, until my dollars were cut in half and prices for everything doubled.
ofgift

Edited: 06/26/2010 at 05:57AM

Pedro Gonzalez

Real Estate Investor · Miami, Florida

59 posts
1 award
50 influence

Sep 19 '08, 06:38 AM

1) Lets create the compensation of top executives linked to the perfomance of the companies.

2) How much are we spending on this never-ending war? Lets review that and lets make an assessment of our ROI on this war. We may be able to divert some of those funds and invest them in America and prevent situations like Ofgift is explaining it happen with his/her ss benefit.

Edited: 06/26/2010 at 05:57AM

Ryan Steele

Real Estate Investor · Chicago, Illinois

957 posts
3 awards
50 influence

Sep 20 '08, 08:18 PM

Let me just say as a VETERAN of conflicts ... 2. What is the ROI to ensure you are alive? How many terrorist attacks have there been on the US since we went into IRAQ?

Now, as to the other, the former CEO of Fannie Mae (I think it was Fannie and not Freddie), took a 50M bonus then left to work on politics. How about we get that 50M back as a start?

Edited: 06/26/2010 at 05:57AM

Bob Hines

Real Estate Investor · StL, Missouri

119 posts
1 award
50 influence

Sep 23 '08, 09:34 PM

The two things that are always needed to correct malinvestment-Price & Time.

Edited: 06/26/2010 at 05:59AM

Andrew Cobb

Inspector · Douglasville, GA

22 posts
1 award
50 influence

Sep 27 '08, 03:45 AM

Have the banks provide financing for the properties that they currently hold at 4.75-7% interest, get all the inventory off their books and more income comming in. Then cut the bonuses and incentives that the top executives are receiving while their companies go to ruin. Just a thought.

Edited: 06/26/2010 at 06:00AM