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By cckerr
As you all know, the government has been throwing money at financial institutions hoping that these institutions so they can continue to do business as usual. The real issue is this, traditional lending models are not working. It is an economic fact that foreclosures drive house prices down, and decreasing house prices cause foreclosures. It is a chicken-egg situation. The solution is to stop and/or reduce foreclosures but no-one has come up with an effective way to do this until now.

There are already programs to help people who are in default (stopped paying their mortgages), but these people cannot help solve the larger issue of fixing this national crisis. The answer to this lies with financially solvent homeowners who are "upside-down" on their mortgages (owe more on their mortgage than it is currently worth or could sell for)but are otherwise financially in good standing and creditworthy. They are also victims of the housing crisis. This group of "upside-down" people who cannot sell, coupled with people who have defaulted on thier loans (stopped paying triggering foreclosures) have absolutely stalled the real estate market, diminished liquidity, and driven prices down.

If solvent "upside-down" home owners were able to take their existing loan (for example $250,000 on a house worth only $150,000 today) and "trade-up" to a bank owned home worth $250,000 in today's market, they could once again have equitable value for their loan (house value = loan value) and it would virtually eliminate foreclosures almost immediately. To see the complete proposal, please visit this web page: (this is absolutely not designed to promote my website, it was just more convenient to use a page of it).

It is important that everyone participates in getting this proposal seen, so please send it to policy makers who can make it happen. There are many links on the web page and you may know others as well. Also, please forward this letter to everyone on your email lists as well. The more people that send this proposal, the more likely it is that someone will take notice. I would appreciate your spending the few minutes it would take to get this message out.

Reward: Solving the housing crisis will help to solve the financial crisis. If you want this fixed folks, you gotta help get the word out. The more letters the government gets about this, the more attention it will get. Thanks for your help.

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