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Reply #15: A very simple solution. [View All]

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Wcross Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-15-07 08:55 AM
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15. A very simple solution.
This would be applied to OWNER OCCUPIED homes only (Screw the flippers & speculators).
Convert the adjustable rate loans to a fixed rate loan at the going rate for each individuals credit score. Increase the loan term to a point where the payment does not exceed 28% of the homeowners gross monthly pay. Even if it meant they would have 100 year mortgages they would still be able to live in the home. They would be able to refinance if their credit score or income improves in the future.
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