Why should we spend billions of dollars trying to bailout mortgage companies on loans that are going to fail anyway?
Why not reward the hard working people who have done the right thing and have worked hard and kept their mortgage payments up to date. The reward will be any mortgage in good standing will be paid off by the government. The homeowner agrees to live in the house and not sell or rent it for at least 10 years.
Now with no house payment, these homeowners will go out and spend some money. This in turn will help stimulate the economy.
Stop throwing good money after bad, reward hard working people instead of bailing out business and giving hand outs to people working the system.
Thank You!