dickcsjr1

How to Spend $700B and Actually Solve the Problem

I understand that the problem is basically homeowners who must default on their mortgage payments. WHY? Obviously, the homeowner is either laid off from his job, or the interest rates on ARMs has gone thru the ceiling. Use some of this $700B to work with the homeowner to reconstruct their mortgages so they can continue to stay in their homes by changing the type of mortgage to a fixed rate at a rate originally contracted, and secondly, extend and or increase the unemployment subsidies so the homeowner can continue to make his payments while he is looking for a suitable job.