On Sep 25, 3:19 am, mark <[EMAIL PROTECTED]> wrote: > rather than give all this money directly to the banks, why not instead > pay off every mortgage in this country. it couldn't cost anymore, and > it would free up more money for the people to spend. the people get > out from under their mortgages. the lenders get their money, the > economy get a shot in the arm. win win -------------- reply follows ----------------------
I assume you mean that the government should pay off each mortgage and the "homeowner / borrowers" would repay the money to the government over the term of each loan How about someone running the numbers? If there are 100,000 shaky loans -- and each loan is for $500,000 then the total would be $50,000,000,000 (fifty billion). Is that correct?? So even if there were 1,000,000 such loans -- the total would only be five hundred billion. That is less than the $700 billion they are talking about. Can that be right? -- somebody else check my math. Let's see if I can do it how I learned in engineering school. One million loans (1 x 10 to the sixth power) times $500,000 per loan (5 x 10 to the fifth power) -- does equal 5 to the 11th power. or $500 billion By George -- that IS $500 billion. IT IS LESS THAN $700 Billion That is not win-win -- it is win-win-win What a great idea. Please check my math. Can there be possibly more than a million shaky loans? Can the loans average more than $500,000? There are about 300 million people in this country. If there are 3 people for each home -- that is 100 million homes. It doesn't seem possible that as many as one million loans can be in default And these loans must have some equity -- all the equity could be subtracted from the cost. Marty Carbone --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
