eDataNews

FDIC is considering loan guarantees and loan modifications similar to the ones done to IndyMac 3 months ago. Loan guarantees will take place to guarantee the lender’s loss for defaulted loans and try to avoid foreclosure.

I think that the minimum required downpayment to buy a home should be at least 10% and not 3% or 5% for first time home buyers. This single requirement will reduce the amount of foreclosures, teach people to save and preserve and provide a better security to lending institutions.

Give the money to the individuals that bought between 2003-2006 their first home and they got robbed. Pay them the difference between the price they paid and the current value of their home. That is the way to do it.

DO NOT PAY THE BANKS — PAY THE PEOPLE