Your Ideas about the Mortgage Crisis

[acluett]

I think our leaders need to figure out a way to extend the lengths of the loans approaching default. In other words, if a homeowner approaching default has a 30 year note, then extend it to 40 or 50 years. That gives homeowners some breathing room, lowers their monthly payments (in many cases), and gives them time to stay in their homes and the potential to see the value rise and ultimately make some money.

Let's face it, when you buy a home you are assuming a huge risk. There have never been guarantees that the value will increase. The banks and mortgage backers ultimately agreed to carry these notes; therefore, they share the risk with the homeowner.

Taxpayers should not be responsible for bailing out homeowners. Not now. Not ever.
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Ontario Mortgage

[Cornelius]

It's not like all this wasn't known..

YouTube - Mr. Schiff predicts economic crisis in 2006

[adria82]

Debt reduction has a possible solution and do not worry. It can be a fact that the burdens which come along with debt are very heavy to deal with, but bankruptcy is not the only option. There is a solution and it is name debt reduction. Everyone must understand some basic facts that are required in debt reduction.

[ritzbhogal delnaz]

For fixing mortgage crisis :
Meeting of all the financial regulators, the financial players and economists of the world for talks and discussions to see a way through the crisis. This improves relations and also encourages constant dialogue leading to better problem solving.
Procure excess bonds which are mortgage-backed.

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Debt Advice

[Angela123]

I agree that extending the original term is a good idea. When things improve down the track, extra payments will be able to be made, and the term may be able to be reduced. Give homeowners a break.