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Forum Post: 3% Mortgage

Posted 11 years ago on Sept. 17, 2011, 7:51 p.m. EST by hongwong (0)
This content is user submitted and not an official statement

  1. Allow me to borrow from FMAE at 3%
  2. 1% go to US Governemnt - better than banker making the money
  3. 1% go to FMAE for administrative fee and salary
  4. 1% go to the bank- limit the bank just do banking
  5. suggest bank to fire whoever make more than 200,000, they have enough skill to start their own business

therefore **goverment and me both have more money to spend will this make the economy better**



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[-] 1 points by nobody1231234 (5) 11 years ago

Why don't we just get rid of mortgages, and sell housing at prices where anyone can truly afford a house? Right now, most people take 30 years to pay off a place to live their life...without mortgages, it may take 5 years of saving to buy a house. This would kill housing prices in many markets immediately (mostly on the coasts) but would make things better long term. No?