I think it is a top priority to help people stay in their homes and like many people, I feel most uncomfortable with our taxes being poured into a seeming black hole.
Here is my idea for helping the banks indirectly and helping people directly - please shoot it down!
A family can't meet their mortgage payments. The Government redeems half the mortgage and gives the family 2 years payment holiday and then expects them to pay 3% interest per year. BUT, the loan belongs to the site not to the people. If the house is sold, the loan goes with it with the obligation to pay, what becomes in effect a property tax. However, the loan can be repaid in part or whole at any time without penalty. Why won't everyone do this? Because there is a public register of properties with loan amounts and payments made, no names attached, but it would not be hard to work out who. This could also be done where the landlord cannot meet the payment.
This has the benefit that the money is not going direct to the banks.
People are given every support to stay in their homes
The country has a SECURE revenue stream for the future
What do you think?
Launching Long Now’s Second Quarter Century
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