Why cant the government offer to buy all mortgages and stop the meltdown?

Mar

Why cant the government offer to buy all mortgages and stop the meltdown?

Archived in the category: mortgages

If there are 300 million people in America, and likely less than 100 million mortgages, a buy out of less than 100 million could stop the leveraged mortgage meltdown. Why not stop it at the source and only spend 100 million instead of the billions?

Math isn’t one of your strong points is it. Do you think the 100 million mortgages are only worth 1 dollar each??

And how about getting a job and taking care of your own instead of sticking your hand out for something that you haven’t worked for or deserve?

Posted by: admin - 7 Comments

7 comments for “Why cant the government offer to buy all mortgages and stop the meltdown?”

Not Rep or Dem!!

where’s any personal or corporate responsibility in that? It’s like Dad paying the Visa bill, you will run it up next month. right?
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March 31st, 2010 at 6:03 pm

Johnny S

Math isn’t one of your strong points is it. Do you think the 100 million mortgages are only worth 1 dollar each??

And how about getting a job and taking care of your own instead of sticking your hand out for something that you haven’t worked for or deserve?
References :

March 31st, 2010 at 6:18 pm

stoktrader

Try gradiating from high skule with a little extra effort in the math area there hoss.
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March 31st, 2010 at 6:35 pm

Angela Q

There are many problems with this. Many of the homes were overappraised even before they were sold. And since then they have lost a lot of value.

There are actually not all that many people in a position now to be rescued. People who have already lost their homes can’t be saved.

But the biggest problem is that most of the "problem mortgages" don’t exist. They are fake loans called "credit default swaps", intended to guarantee mortgage-based securities. There is no value to them now. All the money went to pay bonuses to bankers.
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March 31st, 2010 at 7:17 pm

Olan Black

that has some bad Ju-Ju issues.

1. government buys mortgages, (at overinflated prices as usual)
2. private sector buys back houses at cheap price from government
3. private sector sells houses for huge profit
4. Government losses lots of money

.
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March 31st, 2010 at 7:37 pm

purrsephanie

I think we are all missing the point of where are these mortgages? They were all broken down to many pieces and sold along with other investments. How in the hell are we going to track down every tiny piece of a mortgage glue it back together and then buy it? It was a bad move on the banks part and unfortunately we will all pay in the long run.
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March 31st, 2010 at 7:42 pm

Granpa Alex

The government has NO MONEY, the money that they use is MY money (mine & other working taxpayers).

How do you feel about somone stealing from your familiies needs and the hard work to which you have dedicated yourself to pay the bbills of those who made poor decision (bankers, mortagage companies).

NO, absolutely not. I have been very careful, made good decisions in my life and worked very hard . . . MY money is my money to spend for what I want to spend it upon – not saving some bank or mortgage company.

When bank loans are made, they take a risk . . . BUT they make a ton of money on these risks (you pay back over 30-years over 400+% of what is borrowed).

When the loan plan fails and you lose – YOU lose. You see , you did not share your profits with me – I do not want to share your losses!
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March 31st, 2010 at 8:20 pm

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