Bad Credit Consolidation Loan

Posts Tagged ‘Typical Government’

Tones asked:


Here’s what I propose: Have the government bailout the mortgage companies by purchasing their bad debt at a 20% discount and then re-negotiate the loans with the consumer to pay the balance a 0% interest over 50 years with no early payment penalty? If the consumer defaults payments on that generous deal, the government takes possession of the property and sells the property on the open market. That way, the banks get liquidity and their costs decrease in that they don’t have to waste money sending default notices, etc., the homeowner is happy because they get to stay in the house and actually might be able to afford the house which they were erroneously advise they could afford by realtors when they couldn’t. The government is happy because they’d be receiving cash when normally, typical government spending is even less profitable (look at the price paid by governments for toilet seats).

Quite possibly, the only unhappy people would be attorney’s because no one would be able to afford one. I’m all for keeping attorneys being miserable. Would you buy this investment? What other solutions might there be given that declaring random wars on countries doesn’t seem to have work in USA’s current political administration?

debt solutions