Forum Post: 5-YEAR Moratorium on Foreclosures to heal economy, real estate market and prevent more homelessness
Posted 13 years ago on Oct. 19, 2011, 2:13 p.m. EST by FedWallFedWellFedUP
(183)
This content is user submitted and not an official statement
As in the DEPRESSION there must be a five year moratorium on foreclosure to heal the economy and prevent homelessness.
So the banks should have to provide people with free housing for five years because people bought houses that they couldn't afford?
Do you own a house? Is your house paid for? Pat yourself on your back...and continue to be blind ECONOMIC DISASTER greed at the top has caused.
I rent and I wont' be purchasing a home until I have enough money for a large downpayment. I also wont' purchase a home that is beyond my means. People got into bad mortgages because they bought houses that were hundreds of thousands of dollars more than they could afford and didn't make large enough downpayments on them. Its called personal responsibility and forsight.
This is not true...many folks have homes that they service with regular mortgages and now they are worth less....a lot less than what they bought them for. That's all...wake up and see beyond the one moral argument and see all the innocent people that were hurt by this mess.
houses were way overpriced! Plenty of people did not try and buy one because they were so overpriced it was insane.
"Worthless" and "worth a lot less than they bought them for" are not equivalent, AT ALL.
I agree with the orginal poster. Keep paying mortgages, but a moratorium on foreclosures would be appropriate.
So, free housing for 5 years? Great idea.
There is no such thing as free housing. There is only someone else paying for your housing. Why should someone else have to pay for your housing?
Being facetious.
Agreed.A home is a basic "Human" need. More people on the street will continue to fuel disaster.
People stay in your homes. Do not let the banks,sheriffs' office remove you from your home unless they have the deed that was signed by you on settlement day. Most banks/mortgage companies do not have those actual documents.
Stay in you homes!