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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (24241)	3/29/2008 10:46:58 AM
From: TideGlider	Read Replies (1) \| Respond to of 224748

I don't see a problem with backing the homes under Franks package where no more than 85% is backed and they must share profits if they sell within 5 years. There are far too little details in the article. I didn't notice a provision that it be a primary residence, but I am assuming, although I shouldn't as that will be the case as another planned called for them to live in the home and I would hope after they hammered out an acceptable bill a residence requirement would be in it. I don't think smart-assed "flip that house" people should be included so I would hope anyone holding a mortgage on another residential property would be excluded as they were effectively engaging in a business. I would have to see more details before I could say I favored it or not. I would favor a government lien of some sort so that when the home price recovers the government gets their share of the increased value before any new refinancing could occur.