Hey, Mr. Barney Frank, Here is a Better Mortgage Idea

Currently, mortgages are traded between banks and financial institutions like (as) securities, generally in large bundles, but still traded.  The current market prices that these trades are taking place at is currently between $0.18 per $1.00 of face loan amount and $0.28 per $1.00.  But yet, if I or you wanted to pay off the mortgage, we would have to pay the face loan amount plus interest.

Here is the BETTER IDEA.  Let the mortgagees (the homeowners) buy back the mortgage at the current market price of the mortgage. Let them buy the mortgage at 18 to 28 cents per dollar of loan amount.  They can thus cancel the loan that the now owe to themselves and they can then refinance that amount with a full recourse loan, rather than a non-recourse loan, or maybe even a loan guaranteed by Uncle Sam.  This would keep people in their homes, allow a fair playing field, and help the banks monetize their balance sheets.

There are several countries that have programs like this (no I am not a genius) and none of them are facing the situation like the great US of A is facing today.  We must use the markets to solve the problem and this does exactly that!

Spread the word!!!  Let me know what you think….

  1. This can’t be done by our government or Barney for this would help the american people out and not our government or its officials….they are worried about themselves and themselves only.
    When the american people finally wake up and understand this maybe then this country will turn around.
    These elected officals need to be held accountable for their actions they are taken. This country is going under fast not only its mortage crisis and economy.
    Our government officals don’t have the slightest idea as to what to do so they are just printing fake money, billions and trillions…thinking it will help. If you ever played the game of monoply…you know the bank will dry up and go under. Well the same thing will happen to the US Treasury Mint….that printing press will dry up….

  2. guruatmoneyassistant

    Thanks for your ideas. Very much appreciated!!!! Please leave more comments.

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