Sunday, October 19, 2008
Bail Out Home Owners Too
So, with all the bank bailouts going on, and people still having their mortgages foreclosed, the whole issue seems very unfair to average American consumers. It occurred to me that a very easy thing for the fed to implement to give relief on both sides of the issue would be to abolish mortgage insurance immediately. This would be like giving everyone that is upside down on their mortgage an extra $200-300 per month instantly. Just an idea.
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You know, I've thought along a similar line. Of course, from my current situation I thought it'd be nice if they bailed out those with student loans up the yin-yang. But since we'll be sinking those loans into a mortgage pretty soon, your idea sounds very nice.
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