https://www.governmentrefinanceassistance.com/government-financing-assistance/pelosi-and-frank-to-the-fed-no-more-money-for-you-until-you-help-homeowners/ Information and Updates on Government Mortgage Programs Sun, 28 Dec 2008 19:40:54 +0000 hourly 1 https://wordpress.org/?v=6.2.2 https://www.governmentrefinanceassistance.com/government-financing-assistance/pelosi-and-frank-to-the-fed-no-more-money-for-you-until-you-help-homeowners/#comment-1764 Sun, 28 Dec 2008 19:40:54 +0000 http://www.governmentrefinanceassistance.com/?p=269#comment-1764 The US government should refinance with a 5% government mortgage loan any homeowner that wants to keep their home. The banks holding the mortgages would receive an immediate cash infusion of the loan balance and the government would immediately start receiving mortgage payments from the homeowners. The banks did not keep their part of the bailout agreement and credit remains frozen, many ARM’s adjusted in October when the 6 month LIBOR was at the highest spike of the month. As a bonus, homeowners would not be pouring money down a black hole of interest and with the reduced payments would have money to spend and save thereby helping the economy. This is probably too simple a solution.

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