|
  |
|
|
US Economic Stimulus Plan
By Mel Mino
No one is in disagreement that US economy in a sink hole and going down fast every day. Credit crunch, auto makers economic woes and above all real estate market virtually at a standstill, the light at the end of the tunnel is seeming farther than ever. The disagreement is however on the solution to be chosen to put America back on path of recovery. Almost everyone, especially politicians, is suggesting their solution to the US economic woes with most keeping their personal interests placed before the larger interest of the country. Since a large number of american families own their own home, a well thought out stimulus in that area can bring much needed help to Americans foot steps faster than anything else. "Well thought out" is however the key. Recently, there is a talk about new adminstartion coming with their version of real estate stimulus. As reported the stimulus will be targeted at first time or at the ones buying home for personal use only. As per reports, the plan wants to provide lump sum cash credits and benefits to these new buyers while keeping so called "Investors out". In other words, it seems that the stimulus will provide incentives and credits to encourage marginally qualified prospective first time home owners or those who wanna live in the house, to buy homes. Isn't this how we got into this mess in the first place?? The only difference being that before the incentives and credits were provided by the private industry. Well...why I am not surprized ..!! after all lot of engineers of this new stimulus plans are ex wall-streeters who see to fail to think out of the box.
And, what about the homes being foreclosed right now. Fennie Mae is encoraging highly qualified present homeowners to refinance their homes, to escape foreclosure, at much lower fix rates as long as they have high % of equity built in the house. I wanna know is what are these people responsible to run various parts of government, smoking. If these people had 20% equity built in the house, would they be "FORECLOSING"...HELLLLOOOOOOOOO, Anyone in there...?? The way, I think to get real estate out of this rut is to open up the stimulas plan with credits and incentives to everyone, as long as they owners hang on to the house for next 5 years. Money is money, no matter from where it comes. Lets get it moving and change hands, whether it is from speculator or investor or first time home buyer. If any US resident has a good credit, he or she should be allowed to buy the houses with incentives and credits as long as they keep the house for atleast 3 years for 75% incentives and credits and for 5 years to avail of 100% credit. who cares if it is the first home or second home or third home. The problem at hand is to get money flowing and to put people in houses. If this is what it takes, then so be it. As far as the new scheme from Fannie Mae, they should allow everyone with decent credit history to refinance by extending their years of mortagage and increasing their monthly payment by say about a $100 to go towards building equity in the house. The ones who don't have good credit, they must be allowed to fail and foreclose. Their credit history and the decision to buy a house outside their capacity says it out loud that they will certainly repeat the mistake and as far as I am concerned they should not be allowed to do so at the expense of other Americans. |
business credit cards
| business credit cards
| coupons, promo-codes
| coupons, promo-codes
| Jewelry for Valantine, christmas and more
PLEASE VISIT THE CONTRIBUTOR'S WEBSITE
No reactions yet.
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
The copyright for this content entitled "US Economic Stimulus Plan" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
 |
|
This intel was contributed by Hawkeye
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
