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A Summary Of: The 4% Mortgage Solution

Michael Blassis, Publisher, Dream Homes Magazines
11/27/2008
Untitled Document

WHEN WE SAVE THE HOMEOWNERS, WE SAVE THE COUNTRY

From political candidates and current government officials to the Bank of America, everybody wants to bail out the people who are already in default on their mortgages, thereby creating huge losses for the rest of us.

Our 4% mortgage solution is not only more equitable to ALL homeowners, it will also stop the slide of home values and, in fact, will reverse the slide if we make the 4% rate available to new buyers, as well. Our plan will be saving not only homeowners but the government and the banks at the same time.

  1. AUTOMATIC CONVERSION of all existing mortgages to 4% INTEREST Only for 5 years with NO MORE PAPERWORK. Government to provide 2% money to all mortgage lenders.

  2. SKIN IN THE GAME: All new buyers must put 10% or more down and they, too, get the 4% mortgage.

  3. CONFORMING LOANS should be tied to the median in each zip code. It would be a maximum of $130,000 in Little Rock, AR, and $2 million in La Jolla, CA, instead of being $417,000 everywhere in the country.

  4. NO ZESTIMATES or other such automated home valuation services. Outlaw them nationally.

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Print Date: 2/20/2020
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