mortgagemodification

Obama Mortgage Modification is he really doing enough to help Americans in danger of losing their homes. This is one the latest questions that one must ask themselves. In my opinion I don’t think he is really doing enough to help the many Americans still barely hanging on to their houses. We new that it was going to be a tough battle when he took the Helping Families Save Their Home Bill or H.R. 1106 for the 111th Congress bill out of the original bailout plan that was passed earlier this year.

This bill was specifically taken out of the bailout plan in an effort to make sure that the bailout plan would pass. Again the president let down the American people! With the passing of the plan and leaving out this bill, I think it was a golden opportunity missed. It again gave the corporate head again another flood of money poring into their coffers. When are the guys in Washington going to get it? We don’t need our hard earned tax payer money flowing to the CEO’s of these large multinational companies that are already multi millionaires. We need it flowing to the average Joe that is working hard to save what he or she has.

The Washington folks just don’t get it. The old method of pumping money into the banking system just does not work any more. The system is completely broke and it needs to be rebuilt. With that being said we need to find alternative methods of getting the money into the hands of the people that need it. With the passing of the current Helping Families Save Their Home Bill we will have created a pipe line to the families in need of that money. It is pretty simple guys! Let’s look at an extreme example. If you lower a families mortgage payment from $3,000 dollars a month to $1,500 dollars a month, that leaves $1,500 of disposable income. We all know by now that our economy is driven by the consumer. Roughly 70% of our GDP spending is from the consumer. Who are the consumers? It is me and you. So from our loan modification example above, that would pump possibly another $1,500 a month or $18,000 a year into the American economy just from this one family. The example assumes that all of the money was spent and not placed into savings.

Everyone if Washington is going to do the same old thing and just throw our money around and not put it to good use by placing it into the hands of the homeowners that really need. Then we must contact our local representatives and give them some guidance. Here is a link the congressional website with numbers and email addresses. Folks the represent us and we need to get involved on this one. Please place a call or send email letter etc. but get involved. This is not the time to sit back and watch. We need to do this for our children and families in need. Remember the bill is Called: Helping Families Save Their Home Bill or H.R. 1106 for the 111th Congress! We need to stand up and take control of this one. Good luck and God bless this great country.

Find your House Representative

Find your Congressional Representative

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