home owners: bailout vs. relocation
It is apparent that in order to preserve our economy, the capital stored in mortgages needs to be preserved … which leads to the questionable strategy of rescuing homeowners from agreements that they cannot afford.
Would it not be a realistic idea to relocate these homeowners to properties that are within their means?
………………………………………………………………………………………………………………
………………………………………………………………………………………………………………
Yes. Example: Home owners buy a home for 500k and the current value is only 300k. His next door neighbor has is short selling the exact same model, home same size, same sqaure feet and is identical for 325k. It would not be difficult to relocate next door into a home they can afford. The only difficulty would be getting the banks to loosen the death grip it has on the American people.
James
mymoneymyhomemyfuture.org/
James said this on March 31, 2009 at 10:34 pm