Solving the Foreclosure Crisis

979 WordsJun 20, 20184 Pages
One way to solve the foreclosure crisis is to actually foreclose on every homeowner’s home loan, including the homeowners in bankruptcy, pre-foreclosure and post-foreclosure. The credit report of these homeowners should read as a recession in 2009 and it should not lower their credit scores. The banks should then match the previous interest rates to the interest rates of today and appraise each home and property at the value that it was assigned by its local tax assessor. By doing this it will make housing more affordable to most people. The economy has down-sized most people’s income and by down-sizing the prices of homes appraised way under what they value because of this recession, the monies would match, thus making homeownership…show more content…
This plan is a way of giving back the “United Way” literally. The plan doesn’t work unless every one contributes into it continuously. It seems as if that we as a people have gotten away from “giving” to each other. The world has been contaminated with the “taking” all of the time. As a result, we as a people find ourselves in familiar territory similar to that of “The Great Depression” in the 1920’s. Things are not as drastic, but they are headed in that direction quickly. Homeowners won’t be the only ones to benefit from this governmental investment plan, but everyone can invest and reap the fruits of its labor if it’s instituted correctly. It provides a way to help homeowners to redeem themselves and rethink their budgets and plans for the future. This plan also disburses benefits to banks and companies that invest and it also provides long term surplus of monies for retirees that invest as well as looking-out for the hardships that people may sometimes encounter. It does not take away money from anyone because the plan provides that the money put into the plan by each person can turn around and become an investor of their own tax free money which will be surplus at the age of retirement. This plan includes every one and no one is left out due to age, race, or

More about Solving the Foreclosure Crisis

Open Document