Foreclosures are going through the roof. People losing their jobs in this economy. Energy costs are soaring. The list of problems that we as American face is endless, but these are just as few.
The credit crisis is causing our market and economy to go down the toilet, and all we got so far were bandaid solutions and bandaid proposals. Real working solutions that would appease the masses afflicted, DC libs, and the media will come if a liberal is elected into the White House and a liberal majority is attained on Capitol Hill. Unfortunately, the real proposal will be of a socialist nature.
While nobody on the Hill or from the Obama camp are discussing this solution, it isn't far fetched to see what they will come up with to control the American population (oops, I meant help what's left of the middle class), solve the credit crisis, attempt to control energy costs, and allow people who are in threat of foreclosure (because they bought houses they couldn't afford) to keep their homes. Here's what they will come up with:
Legislation will be introduced and passed that will allow the federal government to buy the distressed properties and allow those who bought the houses that they had no business buying to remain in their homes by issuing new favorable terms.
Doesn't sound bad? Look at the specifics of the plan when it comes out:
- The federal government buys your home and pays off your mortgage. In exchange, you sign a lease-to-own agreement. To make this attractive, the government will probably lower your payment by 50% but stretch the length of payment to 60+ years. Desperate homeowners about to lose their houses would probably bite hook, line, and sinker
- The government will mandate that you make certain improvements to your dwelling to make your house more energy efficient.
- The government will also mandate the energy consumption of your home. In other words, the government will tell you how much in utilities you're allowed to consume. If you go over that amount, you'll be fined.