| Bob Rice |
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Reply with quote | #1 |
Barbara,
Bravo to you ! I just heard you on Larry King Live suggesting that the government DO SOMETHING to help the "LITTLE GUYS"
Your suggestion that the government offer 4% mortgages, no questions asked to any who apply is FANTASTIC.
I would encourage you to socialize this concept and get our representatives in Congress to endorse this idea. This NEED NOT be a "FOREVER" solution. It could be something that is done for 12 months or 18 months. A one-off deal.
Bob
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| Mary |
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Reply with quote | #2 |
Yes, yes, yes. I've been looking for you, Barbara. I watched Larry King the other night briefly, didn't get your name till now (found you via....). Anyway, you were hot! You were the only one gave a great suggestion. Housing market was the reason we're in this mess the first place, we need correct the situation from what caused the problem.
I'm a real estate inventor (not professionally), I have 16 rental properties, most of these properties' value reduced to 50%, and the rental market is not in our favor neither. We've a huge negative cash flow every month, but we DON'T want to walk away from these properties. However, our savings are pretty much gone, we want to talk to the lending institute for loan modification, guess what, they won't talk to us since we're not in default yet and most of them won't even want to help us because they take home owners more seriously...... I don't understand the logic, if I walk away from 16 properties as one investor, that's still 16 properties on the foreclosure market, why they don't want to work with us?
I think cut mortgage rate to 4% across the board, no questions ask for EVERY mortgage holder in the country, is the BEST way to take care the problem that we're facing and to stimulate the market.
Please use your influence to talk to someone in charge. All the banks received bail out funds the first time,it's time for them to SHARE with us. Besides, they'll STILL make money (just a little less). I'd also suggest to not go through the refi procedure, (too much red tapes), if they can raise the interest rate with the credit card anytime they want to, of course they can reduce the interest rate for ALL the mortgages.
Sorry, it's a little long, but I'm so excited that I finally find you. Please reply if you can, Barbara. Thank you very much.
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