Solving the Foreclosure Crisis

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The last quarter twelve percent (12%) of American homes are in default of their loan, or in foreclosure. Add that to the previous four quarters and that is eight point seven (8.7) million homes in crisis. (Further on known as HIC's) The United States “Bail Out” helped major mortgage corporations, and their chief executive officers (CEO's), but not the families that are in, or were in these HIC's across America. If the Federal Housing Authority (FHA) and the United States Treasury Department would implement some radical new programs to help the people affected by this crisis, not the companies responsible for it, the FHA could turn this crisis into an opportunity to help. The U.S. Treasury could issue a $1000.00 Federal Foreclosure Housing Bond (FFHB's), made available to the families of HIC's (Homes In Crisis). FFHB's are limited to ten percent (10%) of the HIC's Taxable Value, not Market Value, to establish FAIR value. Americans pay taxes on our property based on what local and state governments think it is worth, is FAIR. A family that can show between six (6) and twelve (12) months of hardship, and own a HIC can receive FFHB's. A minimum of $50.00 a month bond payment at six percent (6%) fixed rate for ten (10) years , depending on number of FFHB's, and a decreasing payment, down to $50.00 a month, because FFHB's are paid off one (1) at a time*. For example, a family has a HIC (Homes In Crisis) with a taxable value of $50,000.00 is eligible for fifty (50) FFHB's (Federal Foreclosure Bond). The FHA (Federal Housing Authority) establishes a Rent to Own Program (RTOP) to help HIC families and other Americans in need. The family, or lender, contacts RTOP and the family shows they are three (3) months behind in the... ... middle of paper ... ... to American citizens, we pay our taxes to run these programs, we should benefit from them. If you do not pay taxes, you do not qualify for any government program. Stiffer penalties and fines for those whom employ or house ill-legal aliens should be imposed along with jail time, but making it easier for aliens to join our great country. Letting them in and giving them a Social Security Card on the first day, ensuring they will be paying taxes and giving them access to the social programs available. Our government could be a prime example on infrastructural policies, and support. Invest the money internally to make sure all policies and programs are run correctly. Hire Americans into the jobs that need filled, not hire the contractor that hires illegals to cut the costs and raise the profit. Let our government agencies make the profit, we all could profit from that.

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