music, thoughts, books, dreams, more

Just my world of dreams, music and thoughts. Author of two books, one a novel of Love stories set in Framingham, Mass, Secrets of the Heart the 2nd book an autobiography of growing up in Framingham, Mass. Small Town America, Framingham My generation was the first teenage generation, that was when the word was coined. Ours was the generation that started cruising through town and to the drive in theater and drive in restaurant. In our area, Ernie Kampersal,from Holliston, drove his bucking car through town, picking up girls. It rose in the air, like a stallion! We went to the soda shops and played the juke boxes. It was a different town, a different time, and it belonged to us!

Monday, August 9, 2010

100 Year Mortgage: A Modest Proposal

100 Year Mortgage: A Modest Proposal


About two years ago, as we drove along the Gulf Coast of Florida, we were appalled at the number of foreclosures, green slimy swimming pools and derelict neighborhoods because of abandonment of homes. It occurred to me then that this could have been avoided by extending mortgages, probably to 40 years. I still think that extending mortgages, is better than asking for abandonment of houses. Even the bank is not going to do well in foreclosures in this market. So? Why not?

Yesterday, my son Jeff, mentioned that the Japanese were using a one hundred year mortgage, so I thought I would look it up! My thoughts go deeper than the need for a longer mortgage, like why we have rising costs, and why we do not run government like our home. This country is our home! Lets start with stopping foreclosures, lets review finances and see if they folks can survive with a longer mortgage, with a review in 5 years to see if the house can be sold or refinanced for a shorter term. There are so many ways to handle this!
Posted by Unknown at 9:12 AM

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