Image via Wikipedia
Image via Wikipedia
Very simple. Let everyone keep the houses they now own. Why not reduce the mortgage payments of home owners? I never understand the stupid nonsense with the banks. It makes more sense to me to reduce someone’s mortgage than to take someone’s home away from him. Now all the homes sit empty, and no one wants to buy. Some owners damaged their property to get even with the banks for taking their homes. Now the homes are in terrible condition and it would take a lot of money to fix them up. If the banks were willing to work with home owners to reduce their mortgage, all the homes would not be sitting empty bringing down home values and the banks would have money coming in. As it is now, the banks have no money and the homes sit rotting away.
How to get rid of foreclosed properties, rent them out. It’s as simple as that to me. Why can’t these homes be rented out to people who show an interest in renting them? It would help keep property values up. And the government would not have the foreclosed properties on its hands. And the government would have some revenue coming in. I know, it’s too simple. It won’t work.
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