Riick
Elite Member
- Joined
- Aug 14, 2007
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The author is president of the National Bureau of Economic Research
and an economics professor at Harvard University.
woohoo woohoo
_____________________________________________________
"I believe the federal government should create a firewall to prevent too great a fall in housing prices."
SUMMARY:
The federal government to offer all homeowners with mortgages the
opportunity to replace 20% of existing mortgage with a federal loan at a
substantially lower interest rate. This would be a full-recourse loan that
would have to be repaid regardless of what happens, and to take priority
over all non-mortgage debt.
(( Unless of course the borrower or some connected lender could prove 'need" that is -- Ayn Rand are you tuning over in your grave yet? ))
LINK
and an economics professor at Harvard University.
woohoo woohoo
_____________________________________________________
"I believe the federal government should create a firewall to prevent too great a fall in housing prices."
SUMMARY:
The federal government to offer all homeowners with mortgages the
opportunity to replace 20% of existing mortgage with a federal loan at a
substantially lower interest rate. This would be a full-recourse loan that
would have to be repaid regardless of what happens, and to take priority
over all non-mortgage debt.
(( Unless of course the borrower or some connected lender could prove 'need" that is -- Ayn Rand are you tuning over in your grave yet? ))
LINK