Comments on: ‘Overpayers’ social network http://blogs.reuters.com/mediafile/2008/08/25/overpayers-social-network/ Where media and technology meet Wed, 16 Nov 2016 08:48:25 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Bill Brown http://blogs.reuters.com/mediafile/2008/08/25/overpayers-social-network/#comment-352631 Tue, 30 Sep 2008 17:12:19 +0000 http://blogs.reuters.com/mediafile/2008/08/25/overpayers-social-network/#comment-352631 So far I don’t see or hear anything from the current President or the Senators seeking his office which will be of any immediate help to homeowners in foreclosure. The current Bailout plan on the table does not appear to contain what is best for the average American homeowner.

However, if the homeowner and the economy are to benefit in an immediate fashion there must be an infusion of cash flow. Why not do something that would accomplish this regardless to the present plan being hashed out in Washington? Before the President leaves office he should call for or sign by executive order a stay of all proceedings in regards to all Americans presently in foreclosure. Americans who are presently in foreclosure should begin to pay their regular payments, portions thereof or at least the interest on the loan while the stay of proceedings is in place. This action would at least create a cash flow in the industry for the mortgage companies affording them to pay their obligations or whatever they deem necessary.

This stay of proceedings would also allow time for a more well thought out plan with the supposed 700 billion dollar bailout funding as to how it will assist the average American homeowner and the economy. In the mean time no other American homeowner will suffer the loss of their home. Is this not the goal and one of the focal points of the bailout?

If the President does nothing until the bailout plan is finally prepared and accepted many more home owners will have lost their homes before receiving any benefit from these monies. By the time monies are available, that is if the average American home owner is benefited at all, it will be too little too late. This action will show the American people that President Bush can in fact do what is best for the average American before he leaves office. President Bush can leave office with a more positive impression in the minds of the American people.

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By: Bill Brown http://blogs.reuters.com/mediafile/2008/08/25/overpayers-social-network/#comment-352566 Fri, 26 Sep 2008 18:53:20 +0000 http://blogs.reuters.com/mediafile/2008/08/25/overpayers-social-network/#comment-352566 So far I don’t see or hear anyting from the current President or the Senators seeking his office which will be of any immediate help to home owners in foreclosure. I hear of a plan on the table which may or may not come to fruition. However, if the home owner and the economy is to benefit in an immediate fashion; why not do something that would accomplish this regardless to the present plan being hashed out in Washington? Before the President leaves office he should call for or sign by executive order a stay of all proceedings in regards to all Americans presently in foreclosure. This stay of proceedings would allow time for a more well thought out plan with the supposed 700 billion bailout funding as to how it will assist the average American home owner. In the mean time no other American home owner will suffer the loss of their home. If the President does nothing until the bailout plan is finally prepared and accepted, many more home owners will have lost their homes before recieving any benefit from these monies. By the time monies are available, that is if the average American home owner is benefited at all, it will be too little too late. This action will show the American people that President Bush can infact do what is best for the average American before he leaves office. President Bush can leave office with a positive impression in the minds of the American people.

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