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Economic crisis ideas--just asking "what if?"

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Mudcat Donating Member (79 posts) Send PM | Profile | Ignore Fri Feb-20-09 04:50 PM
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Economic crisis ideas--just asking "what if?"
What if...

1. What if we nationalized mortgages in default or foreclosed with the residents still living in those homes?

2. What if we turned over the deed to the home to the FHA?

3. What if people were able to continue living in their homes, and paid 31% of their income to the FHA in return?

4. What if we made this possible, even for people who have lost their jobs or even for people who no longer qualify for unemployment? What if they just paid what they could, but we make sure they don't get kicked to the curb?

5. What if we created the opportunity for them to sell their homes, somewhere down the line, perhaps years or even decades, and if the sale price exceeds the original principal balance on the mortgage, we let them keep the equity they earned?

6. What if we also allow them to sell and move away, provided they can show fulltime employment in the area to which they move? What if this happens, even if the sale price is LESS than the principal on the mortgage?

7. (Now it gets interesting...) What if we use any empty FHA-owned homes (owners pass away, or have to sell and move due to a job, or some other reason) to house the elderly or working poor?

8. What if doing that, reduces the amount of cash paid out for Social Security--a trade-off: a portion of social security payments in return for a "free" home to live in?

9. What if we use the same idea for personal automobiles? What if, instead of handing out bailout money to GM/Chrysler/Ford, the federal gov't buys all those surplus automobiles at bargain prices, and gives them to retirees at a heavy discount in return for slightly reducing their social security check? What if it was only $100/mo for a new car, for as long as they use the car?

10. What if we did this, in return for requiring GM/Chrysler/Ford to make 50% of all 2011 cars run on electricity?

Just some ideas... would like to know what others think.
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txlibdem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-23-10 09:45 AM
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1. Those are some pretty good ideas there - ever consider running for congress?

I especially agree with having all cars run on electricity. 2011 is a bit too fast to make that change but you're thinking is right on! I honestly believe they could phase in the switch over to BEV (battery electric vehicles), starting off slow till 2015 model year and then kicking into high gear. We should mandate 100% electric cars by 2020.
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