2013년 11월 24일 일요일

오후 7:04

By Gil Jesus

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About 'mortgage debts'|Expiration of Debt Relief Act Could Revive Mortgage Crisis







About 'mortgage debts'|Expiration of Debt Relief Act Could Revive Mortgage Crisis








Ａｃｃｏｒｄｉｎｇ               ｔｏ               ａ               ｐｒｅｓｓ               ｒｅｌｅａｓｅ               ｆｒｏｍ               ｔｈｅ               Ｈｉｌｌａｒｙ               Ｃｌｉｎｔｏｎ               ｃａｍｐａｉｇｎ               ｏｎ               Ｍａｒｃｈ               24,               ｉｎ               ａ               ｍａｊｏｒ               ｓｐｅｅｃｈ               ｉｎ               Ｐｈｉｌａｄｅｌｐｈｉａ,               Ｈｉｌｌａｒｙ               Ｃｌｉｎｔｏｎ               ａｎｎｏｕｎｃｅｄ               ａ               ｓｐｅｃｉｆｉｃ               ｆｏｕｒ-ｐｏｉｎｔ               ｐｌａｎ               ｔｈａｔ               ｓｈｅ               ｂｅｌｉｅｖｅｓ               ｗｉｌｌ               ｓｔｅｍ               ｔｈｅ               ｔｉｄｅ               ｏｆ               ｈｏｍｅ               ｆｏｒｅｃｌｏｓｕｒｅｓ               -               ａ               ｋｅｙ               ｄｒｉｖｅｒ               ｉｎ               ｔｈｅ               ｃｕｒｒｅｎｔｌｙ               ｗｅａｋｅｎｉｎｇ               ｅｃｏｎｏｍｙ.

"Ｏｖｅｒ               ｔｈｅ               ｐａｓｔ               ｗｅｅｋ,               ｗｅ'ｖｅ               ｓｅｅｎ               ｕｎｐｒｅｃｅｄｅｎｔｅｄ               ａｃｔｉｏｎ               ｔｏ               ｍａｉｎｔａｉｎ               ｃｏｎｆｉｄｅｎｃｅ               ｉｎ               ｏｕｒ               ｃｒｅｄｉｔ               ｍａｒｋｅｔｓ               ａｎｄ               ｈｅａｄ               ｏｆｆ               ａ               ｃｒｉｓｉｓ               ｆｏｒ               Ｗａｌｌ               Ｓｔｒｅｅｔ               Ｂａｎｋｓ,"               Ｃｌｉｎｔｏｎ               ｓａｉｄ.

"Ｉｔ'ｓ               ｎｏｗ               ｔｉｍｅ               ｆｏｒ               ｅｑｕａｌｌｙ               ａｇｇｒｅｓｓｉｖｅ               ａｃｔｉｏｎ               ｔｏ               ｈｅｌｐ               ｆａｍｉｌｉｅｓ               ａｖｏｉｄ               ｆｏｒｅｃｌｏｓｕｒｅ               ａｎｄ               ｋｅｅｐ               ｃｏｍｍｕｎｉｔｉｅｓ               ａｃｃｒｏｓｓ               ｔｈｉｓ               ｃｏｕｎｔｒｙ               ｆｒｏｍ               ｓｐｉｒａｌｉｎｇ               ｉｎｔｏ               ｒｅｃｅｓｓｉｏｎ,"               ｓａｉｄ               Ｃｌｉｎｔｏｎ.

"Ｔｈｅ               ｓｏｌｕｔｉｏｎ               Ｉ'ｖｅ               ｐｒｏｐｏｓｅｄ               ｉｓ               ａ               ｓｅｎｓｉｂｌｅ               ｗａｙ               ｆｏｒ               ｅｖｅｒｙｏｎｅ               -               ｌｅｎｄｅｒｓ,               ｉｎｖｅｓｔｏｒｓ,               ｍｏｒｔｇａｇｅ               ｃｏｍｐａｎｉｅｓ               ａｎｄ               ｂｏｒｒｏｗｅｒｓ               -               ｔｏ               ｓｈａｒｅ               ｒｅｓｐｏｎｓｉｂｉｌｉｔｙ,               ｋｅｅｐ               ｆａｍｉｌｉｅｓ               ｉｎ               ｔｈｅｉｒ               ｈｏｍｅｓ,               ａｎｄ               ｓｔａｂｉｌｉｚｅ               ｏｕｒ               ｃｏｍｍｕｎｉｔｉｅｓ               ａｎｄ               ｏｕｒ               ｅｃｏｎｏｍｙ."
               Ｗｈｅｔｈｅｒ               ｈｅｒ               ｐｌａｎ               ｗｉｌｌ               ｗｏｒｋ               ｃａｎ               ｂｅ               ｄｅｔｅｒｍｉｎｅｄ               ｂｙ               ｌｉｎｉｎｇ               ｉｔ               ｕｐ               ｗｉｔｈ               ｔｈｅ               ｓｏｒｔ               ｏｆ               ｐｒｏｂｌｅｍｓ               ｃｏｎｓｕｍｅｒｓ               ａｒｅ               ｃｕｒｒｅｎｔｌｙ               ｆａｃｉｎｇ               ｉｎ               ｔｈｅ               ｒｅａｌ               ｗｏｒｌｄ.
               Ｏｕｒ               Ｍｏｒｔｇａｇｅ               Ｃｒｉｓｉｓ
               Ｉｎ               2003,               ｍｙ               ｗｉｆｅ               ａｎｄ               Ｉ,               ａｎｄ               ｏｕｒ               ｔｗｏ               ｙｏｕｎｇ               ｃｈｉｌｄｒｅｎ,               ｍｏｖｅｄ               ｉｎｔｏ               ｏｕｒ               ｆｉｒｓｔ               ｈｏｍｅ               ｉｎ               ｓｏｕｔｈｅｒｎ               Ｍａｉｎｅ.

Ａｆｔｅｒ               ｔｗｏ               ｙｅａｒｓ               ｏｆ               ｐａｙｉｎｇ               ｄｏｗｎ               ｏｕｒ               ｃｒｅｄｉｔ               ｃａｒｄ               ｄｅｂｔｓ               ａｎｄ               ｉｍｐｒｏｖｉｎｇ               ｏｕｒ               ｃｒｅｄｉｔ               ｒａｔｉｎｇ               ｅｎｏｕｇｈ               ｓｏ               ｔｈａｔ               ｗｅ               ｃｏｕｌｄ               ｑｕａｌｉｆｙ               ｆｏｒ               ｃｅｒｔａｉｎ               "ｓｐｅｃｉａｌ               ｐｒｏｇｒａｍｓ"               ｆｏｒ               ｂｏｒｒｏｗｅｒｓ               ｗｉｔｈ               ｅｘｃｅｌｌｅｎｔ               ｃｒｅｄｉｔ,               ｗｅ               ｈａｄ               ｆｉｎａｌｌｙ               ｓｕｃｃｅｅｄｅｄ               ｉｎ               ｂｕｙｉｎｇ               ｏｕｒ               ｖｅｒｙ               ｏｗｎ               ｆｉｒｓｔ               ｈｏｍｅ.
               Ｔｈａｔ               ｉｓ               ｗｈｅｎ               ａｌｌ               ｏｆ               ｔｈｅ               ｐｒｏｂｌｅｍｓ               ｂｅｇａｎ.
               Ｗｅ               ｈａｄ               ｑｕａｌｉｆｉｅｄ               ｆｏｒ               ａ               ｕｎｉｑｕｅ               ｌｏａｎ               ｗｈｅｒｅ               80%               ｏｆ               ｔｈｅ               ｌｏａｎ               ｗａｓ               ｕｎｄｅｒ               ａ               ｔｒａｄｉｔｉｏｎａｌ               30-ｙｅａｒ               ｍｏｒｔｇａｇｅ               ａｔ               ａｎ               ｅｘｃｅｌｌｅｎｔ               ｉｎｔｅｒｅｓｔ               ｒａｔｅ               -               ｓｐｅｃｉｆｉｃａｌｌｙ               6.25%.

Ｙｏｕ               ｊｕｓｔ               ｃａｎ'ｔ               ｂｅａｔ               ｉｔ.
               Ｈｏｗｅｖｅｒ,               ｔｈｅ               ｃａｔｃｈ               ｗａｓ               ｔｈｉｓ.

Ｓｉｎｃｅ               ｗｅ               ｈａｄｎ'ｔ               ｈａｄ               ａ               ｃｈａｎｃｅ               ｔｏ               ｓａｖｅ               ｕｐ               ａ               ｄｏｗｎ               ｐａｙｍｅｎｔ               ｆｏｒ               ｔｈｅ               ｈｏｕｓｅ,               ＧＭＡＣ               Ｍｏｒｔｇａｇｅ               ｗａｓ               ｗｉｌｌｉｎｇ               ｔｏ               ｏｆｆｅｒ               ｕｓ               ａ               ｓｅｃｏｎｄ               ｍｏｒｔｇａｇｅ               ｏｎ               ｔｈｅ               ｈｏｕｓｅ               ｆｏｒ               $42,000               ａｔ               ａ               ｖａｒｉａｂｌｅ               ｉｎｔｅｒｅｓｔ               ｒａｔｅ.

Ａｔ               ｔｈｅ               ｔｉｍｅ               ｔｈｅ               ｌｏａｎ               ｗａｓ               ｐｒｏｃｅｓｓｅｄ,               ｔｈｉｓ               ｉｎｔｅｒｅｓｔ               ｒａｔｅ               ｗａｓ               ｏｎｌｙ               7.5%.
               Ａｆｔｅｒ               ｗｅ               ｈａｄ               ｍｏｖｅｄ               ｉｎｔｏ               ｏｕｒ               ｈｏｍｅ,               Ｉ               ｗａｔｃｈｅｄ               ｗｉｔｈ               ｔｒｅｐｉｄａｔｉｏｎ               ａｓ               Ａｌａｎ               Ｇｒｅｅｎｓｐａｎ               ａｔ               ｔｈｅ               ｆｅｄｅｒａｌ               ｒｅｓｅｒｖｅ               ｇｒａｄｕａｌｌｙ               ｃｏｎｔｉｎｕｅｄ               ｂｕｍｐｉｎｇ               ｕｐ               ｉｎｔｅｒｅｓｔ               ｒａｔｅｓ               ｅｖｅｒｙ               ｆｅｗ               ｍｏｎｔｈｓ.

Ａｓ               Ｉ               ｗａｔｃｈｅｄ,               ｏｖｅｒ               ｔｈｅ               ｃｏｕｒｓｅ               ｏｆ               ｏｎｅ               ｙｅａｒ,               ｔｈｅ               ｆｅｄｓ               ｂｕｍｐｅｄ               ｕｐ               ｒａｔｅｓ               ¼               ｐｏｉｎｔ,               ¾               ｐｏｉｎｔｓ,               ａｎｄ               ｏｎ               ａｎｄ               ｏｎ               ｕｎｔｉｌ               ｏｕｒ               ｒａｔｅ               ｏｎ               ｔｈｅ               ｖａｒｉａｂｌｅ               ｌｏａｎ               ｉｎ               2007               ｈａｄ               ｈｉｔ               ｏｖｅｒ               9.3%.
               Ａｎｇｒｙ               ｗｉｔｈ               ｔｈｅ               Ｆｅｄｅｒａｌ               Ｒｅｓｅｒｖｅ,               Ｉ               ｓｔａｒｔｅｄ               ｔｏ               ｃａｌｌ               ａｒｏｕｎｄ               ａｎｄ               ａｓｋ               ｗｈａｔ               ｗｅ               ｃｏｕｌｄ               ｄｏ               ｔｏ               ｇｅｔ               ｒｉｄ               ｏｆ               ｏｕｒ               ｖａｒｉａｂｌｅ               ｉｎｔｅｒｅｓｔ               ｌｏａｎ.

Ｈｏｗｅｖｅｒ,               ｓｉｎｃｅ               ｗｅ               ｈａｄｎ'ｔ               ｂｕｉｌｔ               ｕｐ               ｅｎｏｕｇｈ               ｅｑｕｉｔｙ               (ｉｎ               ｆａｃｔ,               ｄｕｅ               ｔｏ               ｔｈｅ               ｆａｃｔ               ｔｈａｔ               ｈｏｍｅ               ｐｒｉｃｅｓ               ｈａｄ               ｆａｌｌｅｎ               ｄｒａｍａｔｉｃａｌｌｙ               ｉｎ               ｏｕｒ               ａｒｅａ               ｓｉｎｃｅ               ｗｅ               ｂｏｕｇｈｔ               ｔｈｅ               ｈｏｕｓｅ),               ｎｏ               ｏｎｅ               ｃｏｕｌｄ               ｈｅｌｐ               ｕｓ.

Ｗｅ               ｆｉｎｄ               ｏｕｒｓｅｌｖｅｓ               ｔｒａｐｐｅｄ,               ｉｎ               ａｎ               ｕｐｓｉｄｅ               ｄｏｗｎ               ｍｏｒｔｇａｇｅ               (ｔｈｅ               ｈｏｕｓｅ               ｉｓ               ｎｏｗ               ｗｏｒｔｈ               ｍｕｃｈ               ｌｅｓｓ               ｔｈａｎ               ｗｅ               ｐａｉｄ               ｆｏｒ               ｉｔ),               ａｎｄ               ａ               ｖａｒｉａｂｌｅ               ｒａｔｅ               ｌｏａｎ               ｔｈａｔ               ｗｅ               ｃａｎ'ｔ               ａｆｆｏｒｄ.
               Ｔｈｅ               Ｃｌｉｎｔｏｎ               Ｓｏｌｕｔｉｏｎ
               Ｂｅｌｏｗ,               ｗｅ               ｗｉｌｌ               ｅｘａｍｉｎｅ               Ｃｌｉｎｔｏｎ'ｓ               ｆｏｕｒ-ｐｏｉｎｔ               ｐｌａｎ               ａｎｄ               ｄｅｔｅｒｍｉｎｅ               ｗｈｅｔｈｅｒ               ｏｒ               ｎｏｔ               ｈｅｒ               ｐｌａｎ               ｗｏｕｌｄ               ｒｅａｌｌｙ               ａｓｓｉｓｔ               ｏｔｈｅｒ               ｆｏｌｋｓ,               ｌｉｋｅ               ｕｓ,               ｗｈｏ               ｈａｖｅ               ｂｅｅｎ               ｔｒａｐｐｅｄ               ｂｙ               ｔｈｅ               ａｌｌｕｒｅ               ｏｆ               ｔｈｅ               ａｄｊｕｓｔａｂｌｅ               ｒａｔｅ               ｍｏｒｔｇａｇｅｓ               ｔｈａｔ               ｈａｖｅ               ｂｅｅｎ               ｓｏ               ｐｏｐｕｌａｒ               ｏｖｅｒ               ｔｈｅ               ｌａｓｔ               ｆｅｗ               ｙｅａｒｓ.
               1)               Ａ               Ｎｅｗ               Ａｃｔｉｏｎ               ｔｏ               Ｈｅｌｐ               Ｍｉｌｌｉｏｎｓ               ｏｆ               Ａｔ-Ｒｉｓｋ               Ｈｏｍｅｏｗｎｅｒｓ               Ｒｅｓｔｒｕｃｔｕｒｅ               ｔｈｅｉｒ               Ｍｏｒｔｇａｇｅｓ               ａｎｄ               Ｓｔａｙ               ｉｎ               Ｔｈｅｉｒ               Ｈｏｍｅｓ.
               Ｔｈｅ               Ｐｒｏｐｏｓｉｔｉｏｎ               -               Ｓｅｎａｔｏｒ               Ｃｌｉｎｔｏｎ               ｗａｎｔｓ               ｔｏ               ｅｘｔｅｎｄ               ｔｈｅ               ｒｅａｃｈ               ｏｆ               ｔｈｅ               ＦＨＡ               ｔｏ               ｇｕａｒａｎｔｅｅ               ｒｅｓｔｒｕｃｔｕｒｅｄ               ｍｏｒｔｇａｇｅｓ               ａｓ               ｐｒｏｐｏｓｅｄ               ｂｙ               Ｒｅｐ.

Ｆｒａｎｋ               ａｎｄ               Ｓｅｎ.

Ｄｏｄｄ.

Ｔｈｉｓ               ａｃｔｉｏｎ,               ａｃｃｏｒｄｉｎｇ               ｔｏ               Ｈｉｌｌａｒｙ,               ｗｏｕｌｄ               ｈｅｌｐ               ｍｉｌｌｉｏｎｓ               ｏｆ               Ａｍｅｒｉｃａｎｓ               ｗｈｏ               ｃｏｕｌｄ               ｒｅｓｐｏｎｓｉｂｌｙ               ｐａｙ               ｍｏｎｔｈｌｙ               ｐａｙｍｅｎｔｓ,               ｔｈｒｏｕｇｈ               ａ               ｒｅｓｔｒｕｃｔｕｒｉｎｇ               ｏｆ               ｔｈｅｉｒ               ｍｏｒｔｇａｇｅｓ.

Ｔｈｅ               ａｐｐｒｏａｃｈ               ｓｈｅ               ｓｕｐｐｏｒｔｓ               ｗｏｕｌｄ               ｅｓｓｅｎｔｉａｌｌｙ               ａｌｌｏｗ               ｔｈｅ               ｇｏｖｅｒｎｍｅｎｔ               ｔｏ               ｇｕａｒａｎｔｅｅ               ａｆｆｏｒｄａｂｌｅ,               ｒｅｓｔｒｕｃｔｕｒｅｄ               ｍｏｒｔｇａｇｅｓ               ｔｈａｔ               ｗｏｕｌｄ               ｄｅｐｅｎｄ               ｏｎ               ｐｒｉｖａｔｅ-ｓｅｃｔｏｒ               ａｕｃｔｉｏｎ               ｏｆ               ｌａｒｇｅ               ｍｏｒｔｇａｇｅ               ｐｏｏｌｓ.
               Ｗｏｕｌｄ               ｉｔ               Ｈｅｌｐ?

-               Ｔｈｉｓ               ｓｏｌｕｔｉｏｎ               ｗｏｕｌｄ               ｐｒｏｖｅ               ｔｏ               ｂｅ               ａ               ｔｒｅｍｅｎｄｏｕｓ               ｉｎｆｌｕｅｎｃｅ               ｏｎ               ｏｖｅｒａｌｌ               ｆｉｎａｎｃｉａｌ               ｍａｒｋｅｔｓ.

Ａ               ｍａｊｏｒｉｔｙ               ｏｆ               ｈｏｍｅ-ｏｗｎｅｒｓ               ｗｈｏ               ａｒｅ               ｓｔｒｕｇｇｌｉｎｇ               ｕｎｄｅｒ               ｔｈｅ               ｅｎｏｒｍｏｕｓ               ｗｅｉｇｈｔ               ｏｆ               ｍｏｒｔｇａｇｅｓ               ｔｈａｔ               ｓｉｍｐｌｙ               ｈａｖｅ               ｉｎｔｅｒｅｓｔ               ｒａｔｅｓ               ｔｈａｔ               ａｒｅ               ｔｏｏ               ｈｉｇｈ,               ｗｏｕｌｄ               ｆｉｎｄ               ｒｅｌｉｅｆ               ｆｒｏｍ               ｔｈｅ               ｖｅｒｙ               ｓｉｍｐｌｅ               ｒｅｓｔｒｕｃｔｕｒｉｎｇ               ｏｆ               ｍｏｒｔｇａｇｅｓ               ｔｈａｔ               ｌｏｗｅｒ               ｔｈｅ               ｉｎｔｅｒｅｓｔ               ｒａｔｅｓ               ａｎｄ               ｍａｙ               ｅｖｅｎ               ｃｏｎｖｅｒｔ               ｔｈｅ               ｌｏａｎｓ               ｔｏ               ｍｏｒｅ               ｒｅａｓｏｎａｂｌｅ               30               ｙｅａｒ               ｍｏｒｔｇａｇｅｓ               ｗｉｔｈ               ｔｈｅ               ｋｉｎｄ               ｏｆ               ｒｅａｓｏｎａｂｌｅ               ｐａｙｍｅｎｔｓ               ｔｈａｔ               ｒｅｓｐｏｎｓｉｂｌｅ               ｈｏｍｅｏｗｎｅｒｓ               ｃａｎ               ａｃｔｕａｌｌｙ               ａｆｆｏｒｄ.
               2)               Ａ               Ｈｉｇｈ-Ｌｅｖｅｌ               Ｅｍｅｒｇｅｎｃｙ               Ｗｏｒｋｉｎｇ               Ｇｒｏｕｐ               ｏｎ               Ｆｏｒｅｃｌｏｓｕｒｅｓ               ｔｏ               Ｉｎｖｅｓｔｉｇａｔｅ               Ｈｏｗ               ｔｏ               Ａｃｈｉｅｖｅ               Ｂｒｏａｄ               Ｒｅｓｔｒｕｃｔｕｒｉｎｇ               ｏｆ               ＡＴ-Ｒｉｓｋ               Ｍｏｒｔｇａｇｅｓ.
               Ｔｈｅ               Ｐｒｏｐｏｓｉｔｉｏｎ               -               Ｃｌｉｎｔｏｎ               ｉｓ               ｃａｌｌｉｎｇ               ｆｏｒ               ｔｈｅ               ｅｓｔａｂｌｉｓｈｍｅｎｔ               ｏｆ               ａｎ               Ｅｍｅｒｇｅｎｃｙ               Ｗｏｒｋｉｎｇ               Ｇｒｏｕｐ               ｏｎ               Ｆｏｒｅｃｌｏｓｕｒｅｓ               ｔｈａｔ               ｗｏｕｌｄ               ｒｅｐｏｒｔ               ｗｉｔｈｉｎ               ｔｈｒｅｅ               ｗｅｅｋｓ               ｏｎ               ｔｈｅ               ｂｅｓｔ               ｗａｙ               ｔｏ               ｒｅｓｏｌｖｅ               ｔｈｅ               ｃｕｒｒｅｎｔ               ｍｏｒｔｇａｇｅ               ｃｒｉｓｉｓ.

Ｔｈｅ               ｐｒｏｐｏｓｅｄ               Ｗｏｒｋｉｎｇ               Ｇｒｏｕｐ               ｗｏｕｌｄ               ｂｅ               ｈｅａｄｅｄ               ｂｙ               ｓｕｃｈ               ｅｘｐｅｒｔｓ               ａｓ               Ａｌａｎ               Ｇｒｅｅｎｓｐａｎ,               Ｐａｕｌ               Ｖｏｌｃｋｅｒ,               ａｎｄ               Ｂｏｂ               Ｒｕｂｉｎ.

Ｔｈｅ               ｒｏｌｅ               ｏｆ               ｔｈｉｓ               ｗｏｒｋｉｎｇ               ｇｒｏｕｐ               ｗｏｕｌｄ               ｂｅ               ｔｏ               ｐｒｏｖｉｄｅ               ａｎ               ａｎａｌｙｓｉｓ               ｏｆ               ｔｈｅ               ｅｆｆｅｃｔｉｖｅｎｅｓｓ               ｏｆ               ｔｈｅ               ｐｒｏｐｏｓｅｄ               Ｆｒａｎｋ/Ｄｏｄｄ               ｌｅｇｉｓｌａｔｉｏｎ.

Ｉｆ               ｔｈｅ               ｌｅｇｉｓｌａｔｉｏｎ               ｉｓ               ｄｅｔｅｒｍｉｎｅｄ               ｔｏ               ｂｅ               ｉｎｅｆｆｅｃｔｉｖｅ,               ｔｈｅｎ               ｔｈｅ               ｇｒｏｕｐ               ｗｏｕｌｄ               ｂｅ               ｔａｓｋｅｄ               ｗｉｔｈ               ｉｎｖｅｓｔｉｇａｔｉｎｇ               ａｎ               ｅｆｆｅｃｔｉｖｅ               ｇｏｖｅｒｎｍｅｎｔ               ｒｏｌｅ               ｔｈｒｏｕｇｈ               ＦＨＡ               ｏｒ               ｓｏｍｅ               ｏｔｈｅｒ               ｅｎｔｉｔｙ               ａｓ               ａｎ               ｉｎｔｅｒｍｅｄｉａｒｙ               ｐｕｒｃｈａｓｅｒ               ｉｎ               ｔｈｅ               ｃａｓｅ               ｏｆ               ｎｅｃｅｓｓａｒｙ               ｇｏｖｅｒｎｍｅｎｔ               ｉｎｔｅｒｖｅｎｔｉｏｎ.
               Ｗｏｕｌｄ               ｉｔ               Ｈｅｌｐ?

-               Ｉｔ               ｃｏｕｌｄ,               ａｌｔｈｏｕｇｈ               ｔｈｅ               ｈｅｌｐ               ｗｏｕｌｄ               ｂｅ               ｉｎｄｉｒｅｃｔ.

Ｓｕｃｈ               ａ               ｗｏｒｋｉｎｇ               ｇｒｏｕｐ               ｗｏｕｌｄ               ｍａｋｅ               ｓｕｒｅ               ｔｈａｔ               ｔｈｅ               ｐｒｏｐｏｓａｌ               ｏｆｆｅｒｅｄ               ｉｎ               #1               ｗｏｕｌｄ               ａｃｔｕａｌｌｙ               ｗｏｒｋ.

Ｉｆ               ｉｔ               ｗｏｕｌｄｎ'ｔ               ｗｏｒｋ,               ｔｈｅｎ               ｔｈｅ               Ｗｏｒｋｉｎｇ               Ｇｒｏｕｐ               ｗｏｕｌｄ               ｅｓｓｅｎｔｉａｌｌｙ               ｃｏｍｅ               ｕｐ               ｗｉｔｈ               ｓｏｍｅ               ｋｉｎｄ               ｏｆ               ｐｌａｎ               ｔｈａｔ               ｗｏｕｌｄ               ａｌｌｏｗ               ｔｈｅ               ｇｏｖｅｒｎｍｅｎｔ               ｔｏ               ｓｔｅｐ               ｉｎ               ａｓ               ａｎ               ｉｎｔｅｒｍｅｄｉａｒｙ               ｐｕｒｃｈａｓｅｒ               ｉｆ               ｍｏｒｔｇａｇｅｓ               ａｒｅ               ｆａｌｌｉｎｇ               ｉｎｔｏ               ｄｅｆａｕｌｔ               ａｎｄ               ｆｏｒｅｃｌｏｓｕｒｅ.
               3)               Ｃｌａｒｉｆｙｉｎｇ               Ｌｅｇａｌ               Ｌｉａｂｉｌｉｔｙ               ｆｏｒ               Ｍｏｒｔｇａｇｅ               Ｓｅｒｖｉｃｅｒｓ               ｔｏ               Ｈｅｌｐ               Ｕｎｆｒｅｅｚｅ               ｔｈｅ               Ｍｏｒｔｇａｇｅ               ｍａｒｋｅｔ
               Ｐｒｏｐｏｓａｌ               -               Ｗｈｉｌｅ               ｍａｎｙ               ｐｅｏｐｌｅ               ｄｏｎ'ｔ               ｒｅａｌｉｚｅ               ｔｈａｔ               ｍｏｒｔｇａｇｅ               ｃｏｍｐａｎｉｅｓ               ａｒｅ               ｈｅｌｄ               ｌｉａｂｌｅ               ｔｏ               ｉｎｖｅｓｔｏｒｓ               ｗｈｏ               ａｃｔｕａｌｌｙ               ｏｗｎ               ｔｈｅ               ｍｏｒｔｇａｇｅ               ｐａｐｅｒｓ,               ｔｈｉｓ               ｐａｒｔｉｃｕｌａｒ               ｐｒｏｐｏｓａｌ               ｆｏｃｕｓｅｓ               ｏｎ               ｔｈａｔ               ａｓｐｅｃｔ               ｏｆ               ｍｏｒｔｇａｇｅ               ｌｅｎｄｉｎｇ.

Ｔｈｉｓ               ｉｓ               ｔｈｅ               ｒｅａｓｏｎ               ｗｈｙ               ｍｏｒｔｇａｇｅ               ｃｏｍｐａｎｉｅｓ               ａｒｅ               ｒｅｓｉｓｔａｎｔ               ｔｏ               ｔｈｅ               ｒｅｓｔｒｕｃｔｕｒｉｎｇ               ｏｆ               ｓｕｃｈ               ｌｏａｎｓ.

Ｓｅｎａｔｏｒ               Ｃｌｉｎｔｏｎ               ｐｒｏｐｏｓｅｓ               ｔｏ               ｉｎｔｒｏｄｕｃｅ               ｌｅｇｉｓｌａｔｉｏｎ               ｔｈａｔ               ｗｏｕｌｄ               ｅｎｓｕｒｅ               ｔｈａｔ               ｓｕｃｈ               ｍｏｒｔｇａｇｅ               ｃｏｍｐａｎｉｅｓ               ｗｈｏ               ｄｏ               ｔｈｅ               ｒｉｇｈｔ               ｔｈｉｎｇ               ｔｈｒｏｕｇｈ               ｈｅｌｐｉｎｇ               ｈｏｍｅｏｗｎｅｒｓ               ｋｅｅｐ               ｔｈｅｉｒ               ｈｏｍｅｓ,               ａｓ               ｗｅｌｌ               ａｓ               ｍｅｅｔｉｎｇ               ｔｈｅ               ｉｎｖｅｓｔｏｒｓ               ｎｅｅｄｓ               ｔｏ               ａｖｏｉｄ               ｒｉｓｋ               -               ｗｏｕｌｄ               ｎｏｔ               ｆａｃｅ               ｌｅｇａｌ               ｌｉａｂｉｌｉｔｙ               ｏｒ               ｎｅｇａｔｉｖｅ               ｔａｘ               ｃｏｎｓｅｑｕｅｎｃｅｓ.
               Ｗｏｕｌｄ               ｉｔ               Ｈｅｌｐ?

-               Ｔｈｉｓ               ｉｓ               ｏｎｅ               ｉｔｅｍ               ｔｈａｔ               ｃｏｕｌｄ               ｈｅｌｐ               ｔｈｏｓｅ               ｏｆ               ｕｓ               ｓｔｒｕｇｇｌｉｎｇ               ｕｎｄｅｒ               ａ               ｒｉｄｉｃｕｌｏｕｓｌｙ               ｈｉｇｈ               ｉｎｔｅｒｅｓｔ               ｒａｔｅ.

Ｃｕｒｒｅｎｔｌｙ,               ｍｏｒｔｇａｇｅ               ｌｅｎｄｅｒｓ               ａｒｅ               ｖｅｒｙ               ｕｎｗｉｌｌｉｎｇ               ｔｏ               ｃｏｎｓｉｄｅｒ               ｅｖｅｎ               ａ               ｓｌｉｇｈｔ               ｄｒｏｐ               ｉｎ               ｉｎｔｅｒｅｓｔ               ｒａｔｅｓ               -               ｏｒ               ｅｖｅｎ               ａ               ｍｉｎｏｒ               ｒｅｓｔｒｕｃｔｕｒｉｎｇ               ｏｆ               ｔｈｅ               ｌｏａｎ               ｔｈａｔ               ｗｏｕｌｄ               ｒｅｄｕｃｅ               ｔｈｅ               ｍｏｎｔｈｌｙ               ｐａｙｍｅｎｔ               ｔｏ               ａ               ｄｅｇｒｅｅ               ｔｈａｔ               ｗｏｕｌｄ               ｍａｋｅ               ｉｔ               ｍｏｒｅ               ａｆｆｏｒｄａｂｌｅ.

Ｉｔ               ｉｓ               ｖｅｒｙ               ｌｉｋｅｌｙ               ｔｈａｔ               ｉｆ               ｔｈｅ               ｌｅｇａｌ               ａｎｄ               ｔａｘ               ｌｉａｂｉｌｉｔｉｅｓ               ａｒｅ               ｒｅｍｏｖｅｄ               ｆｒｏｍ               ｔｈｅ               ｍｏｒｔｇａｇｅ               ｌｅｎｄｅｒｓ,               ｔｈｅｙ               ｗｏｕｌｄ               ｂｅ               ｍｕｃｈ               ｍｏｒｅ               ｗｉｌｌｉｎｇ               ｔｏ               ｔａｌｋ               ｗｈｅｎ               ｃｕｓｔｏｍｅｒ'ｓ               ｃａｌｌ               ａｎｄ               ｅｘｐｒｅｓｓ               ｔｈａｔ               ｔｈｅｙ               ｃａｎ               ｎｏｔ               ｍａｋｅ               ｔｈｅ               ｃｕｒｒｅｎｔ               ｍｏｒｔｇａｇｅ               ｐａｙｍｅｎｔｓ.
               4)               Ａ               Ｎｅｗ               Ｈｏｕｓｉｎｇ               Ｓｔｉｍｕｌｕｓ               Ｐａｃｋａｇｅ               Ｗｉｔｈ               ａｔ               Ｌｅａｓｔ               $30               Ｂｉｌｌｉｏｎ               ｆｏｒ               Ｓｔａｔｅｓ               ａｎｄ               Ｌｏｃａｌｉｔｉｅｓ               ｔｏ               Ｆｉｇｈｔ               Ｃｏｎｃｅｎｔｒａｔｅｄ               Ｆｏｒｅｃｌｏｓｕｒｅｓ
               Ｐｒｏｐｏｓａｌ               -               Ｓｅｎａｔｏｒ               Ｃｌｉｎｔｏｎ               ｐｒｏｐｏｓｅｓ               ｅｍｅｒｇｅｎｃｙ               ｈｏｕｓｉｎｇ               ｆｕｎｄｓ               ｗｏｕｌｄ               ｂｅ               ｄｅｓｉｇｎｅｄ               ｔｏ               ｂｅ               ａｄｍｉｎｉｓｔｅｒｅｄ               ｑｕｉｃｋｌｙ               ｔｏ               ｓｔａｔｅ,               ｌｏｃａｌ               ａｎｄ               ｃｏｍｍｕｎｉｔｙ               ｇｒｏｕｐｓ               ｔｈａｔ               ｗｏｒｋ               ｔｏ               ｓｔｅｍ               ｆｏｒｅｃｌｏｓｕｒｅｓ               ｔｈｒｏｕｇｈ               ｇｒａｎｔｓ               ｐｒｏｖｉｄｅｄ               ｆｏｒ:
               -               Ａｃｑｕｉｒｉｎｇ               ｄｉｓｔｒｅｓｓｅｄ               ｐｒｏｐｅｒｔｉｅｓ,               ｍａｋｉｎｇ               ｉｍｐｒｏｖｅｍｅｎｔｓ,               ａｎｄ               ｐｕｔｔｉｎｇ               ｔｈｅｍ               ｂａｃｋ               ｉｎｔｏ               ｐｒｏｄｕｃｔｉｖｅ               ｕｓｅ.
               -               Ｏｆｆｓｅｔｔｉｎｇ               ｔｈｅ               ｃｏｓｔｓ               ａｓｓｏｃｉａｔｅｄ               ｗｉｔｈ               ｃｒｉｍｅ               ａｎｄ               ｓａｆｅｔｙ               ｉｎ               ｄｉｓｔｒｅｓｓｅｄ               ｎｅｉｇｈｂｏｒｈｏｏｄｓ.
               -               Ｗｏｒｋｉｎｇ               ｗｉｔｈ               ｈｏｍｅｏｗｎｅｒｓ               ｕｎｄｅｒ               ｔｈｒｅａｔ               ｏｆ               ｆｏｒｅｃｌｏｓｕｒｅ               ｔｏ               ｒｅｓｔｒｕｃｔｕｒｅ               ｔｈｅｉｒ               ｍｏｒｔｇａｇｅｓ.
               Ｗｏｕｌｄ               ｉｔ               Ｈｅｌｐ?

-               Ｔｈｉｓ               ａｓｐｅｃｔ               ｏｆ               ｔｈｅ               ｆｏｕｒ               ｐｒｏｐｏｓａｌｓ               ａｂｏｖｅ               ｉｓ               ｏｎｅ               ｗｈｉｃｈ               ｗｏｕｌｄ               ｎｏｔ               ｏｎｌｙ               ｈｅｌｐ               ｉｎｄｉｖｉｄｕａｌ               ｈｏｍｅｏｗｎｅｒｓ,               ｂｕｔ               ｉｔ               ｗｏｕｌｄ               ｓａｖｅ               ｅｎｔｉｒｅ               ｃｏｍｍｕｎｉｔｉｅｓ               ｆｒｏｍ               ｔｈｅ               ｄｉｓａｓｔｒｏｕｓ               ｅｆｆｅｃｔｓ               ｏｆ               ｆｏｒｅｃｌｏｓｕｒｅ.

Ｆｏｒｅｃｌｏｓｕｒｅ               ｃａｎ               ｌｏｗｅｒ               ｐｒｏｐｅｒｔｙ               ｖａｌｕｅｓ               ａｌｌ               ａｒｏｕｎｄ               ｔｈｅ               ｐｒｏｐｅｒｔｙ               ｔｈａｔ               ｉｓ               ｆｏｒｅｃｌｏｓｅｄ.

Ｉｔ               ｃａｎ               ｄｉｓｔｒｅｓｓ               ｅｎｔｉｒｅ               ｎｅｉｇｈｂｏｒｈｏｏｄｓ               ｄｕｅ               ｔｏ               ｒｅｄｕｃｅｄ               ｃｏｌｌｅｃｔｅｄ               ｐｒｏｐｅｒｔｙ               ｔａｘｅｓ,               ａｎｄ               ｃａｎ               ｌｅａｄ               ｔｏ               ｉｎｃｒｅａｓｅｄ               ｃｒｉｍｅ               ｉｎ               ｔｈｅ               ａｒｅａ.

Ｉｆ               ｍｏｎｅｙ               ｉｓ               ｄｉｒｅｃｔｌｙ               ｓｅｎｔ               ｔｏ               ｈｅｌｐ               ｃｏｍｍｕｎｉｔｉｅｓ               ａｖｏｉｄ               ｔｈｉｓ               ｆａｔｅ               -               ｉｔ               ｗｏｕｌｄ               ｓａｖｅ               ａｌｌ               ｏｆ               ｕｓ               ｗｈｏ               ａｒｅ               ｅｉｔｈｅｒ               ｆａｃｉｎｇ               ｉｍｍｉｎｅｎｔ               ｆｏｒｅｃｌｏｓｕｒｅ,               ｏｒ               ｌｉｖｅ               ｉｎ               ａ               ｃｏｍｍｕｎｉｔｙ               ｗｈｅｒｅ               ｇｒｏｕｐｓ               ｏｆ               ｆｏｌｋｓ               ａｒｅ               ｃｕｒｒｅｎｔｌｙ               ｆａｃｉｎｇ               ｔｈａｔ               ｒｅａｌｉｔｙ.
               Ｓｈｏｕｌｄ               ｔｈｅｓｅ               ｐｒｏｐｏｓａｌｓ               ｂｅｃｏｍｅ               ａ               ｒｅａｌｉｔｙ               ｉｎ               ｔｈｅ               ｎｅａｒ               ｆｕｔｕｒｅ,               ｉｔ               ｉｓ               ｌｉｋｅｌｙ               ｔｈａｔ               ｉｔ               ｃｏｕｌｄ               ｅｓｓｅｎｔｉａｌｌｙ               ｓａｖｅ               ｕｓ               ｆｒｏｍ               ｔｈｅ               ｃｕｒｒｅｎｔ               ｈｏｕｓｉｎｇ               ｃｒｉｓｉｓ.

Ｉｎ               ｆａｃｔ               -               ｉｔ               ｃｏｕｌｄ               ｓａｖｅ               ｔｈｅ               ｅｎｔｉｒｅ               ｅｃｏｎｏｍｙ.

Ｈｏｗｅｖｅｒ               -               ｗｈａｔｅｖｅｒ               ｓｏｌｕｔｉｏｎ               ｉｓ               ａｄｏｐｔｅｄ,               ｉｔ               ｗｏｕｌｄ               ｎｅｅｄ               ｔｏ               ｂｅ               ｗｉｄｅ               ｉｎ               ｓｃｏｐｅ,               ｖｅｒｙ               ａｇｇｒｅｓｓｉｖｅ,               ａｎｄ               ｑｕｉｃｋｌｙ               ｉｍｐｌｅｍｅｎｔｅｄ.

Ｔｈｅ               ｓｌｏｗｌｙ               ｔｕｒｎｉｎｇ               ｗｈｅｅｌｓ               ｏｆ               ｂｕｒｅａｕｃｒａｃｙ               ａｒｅ               ｎｏｔ               ａｃｃｅｐｔａｂｌｅ               ｉｎ               ｓｕｃｈ               ａ               ｃｒｉｓｉｓ               ａｓ               ｔｈｉｓ               ｏｎｅ,               ａｎｄ               ｅｍｐｔｙ               ｃａｍｐａｉｇｎ               ｐｒｏｍｉｓｅｓ               ｗｉｌｌ               ｄｏ               ｎｏｔｈｉｎｇ               ｔｏ               ｐｒｅｖｅｎｔ               ｆａｍｉｌｉｅｓ               ａｒｏｕｎｄ               ｔｈｅ               ｃｏｕｎｔｒｙ               ｆｒｏｍ               ｌｏｓｉｎｇ               ｔｈｅｉｒ               ｈｏｍｅｓ.
               Ｔｈｅｓｅ               ａｒｅ               ａｌｌ               ｖａｌｕａｂｌｅ               ａｎｓｗｅｒｓ               ｔｏ               ｔｈｅ               ｃｒｉｓｉｓ               ｔｈａｔ               ｏｕｒ               ｃｏｕｎｔｒｙ               ｎｏｗ               ｆａｃｅｓ.

Ｗｅ               ｃａｎ               ｏｎｌｙ               ｈｏｐｅ               ｔｈａｔ               ｔｈｅｓｅ               ｃａｍｐａｉｇｎ               ｐｒｏｍｉｓｅｓ               ａｒｅ               ｓｉｎｃｅｒｅ,               ｂｅｃａｕｓｅ               ａｔ               ｆａｃｅ               ｖａｌｕｅ,               ｔｈｅｙ               ａｒｅ               ｐｏｗｅｒｆｕｌ,               ｉｍｐｏｒｔａｎｔ,               ａｎｄ               ｅｆｆｅｃｔｉｖｅ               ａｎｓｗｅｒｓ               ｔｏ               ｔｈｅ               ｃｒｉｓｉｓ               ｔｈａｔ               ｓｏ               ｍａｎｙ               Ａｍｅｒｉｃａｎ               ｆａｍｉｌｉｅｓ               ａｒｅ               ｆａｃｉｎｇ               ｔｏｄａｙ               ｉｎ               ｔｈｉｓ               ｃｏｕｎｔｒｙ.






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