get ready cause here comes some free advice ( r.weir)
in an effort to stimulate the economy I propse that the Fed Govt offer a tax incentive to first time homebuyers.......offer them a fixed rate at 3% mortgage , match their downpayment at 25 cents to the dollar up to 100,000 , but tie that to occupancy and ownership, in other words if they rent out or sell this property before 10 years they have to give back the Govt assistance........one more caveat....they have to purchase a home that is currently in foreclosure....this more than ayhting will help the banks.....if they can get bad loans off their books, replaced by good loans, even at a discount, and reduce their inventory of homes ...it would be win/win.....more importantly ....you and I would not really be hurt by this....it would represent a pittance of what govt is currently giving away.
The people that would be hurt are the folks who are trying to sell their homes now, but eventually this will help them too.....right now there are tooo many homes on the market..
No comments:
Post a Comment