Why can’t the goverment and mortgage free homeowners create a profit sharing entity to by toxic loans?
by Mortgage Rates on Monday, November 29th, 2010 | 4 Comments
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Those who own those mortgages and those who defaulted on their loans should be a allowed to fail.
I’m not following you here. You want to take money from homeowners who don’t have mortgages? Like, a huge tax? A lot of people who own their homes free and clear are retired and living on a fixed income. And if they’re unemployed, what will you do to them, take their homes away? ∠°)
Oh, they want to. And then they want US taxpayers to have to buy the toxic entity, take all the bad debt and leave those who took the profits to walk off scot free.
Because then the govt would not be able to bail out the defaulted loans-thus making govt the new owner and therefore not be able to complete the socialist agenda.
BTW-good plan-you have a great mind for finance, but try not to use too much logic because that doesn’t apply anymore.