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Financial wizards: Would this work?

hypocritexposer

Well-known member
I was thinking about the mortgages that are going to be bailed out, and I had a couple of ideas.

Would this work?

Instead of giving ACORN cash, let them hold mortgages. The Government(taxpayers) buy the mortgages from the banks, and "sell" them to ACORN.

ACORN will then become a landlord, they can profit off the rental properties, or rent them out as charity, their choice.

Reduced rents, would allow those "upside down" to catch up, and maybe someday, buy their property back from ACORN.

If ACORN truly wants to help the community, let them do it this way, with a risk involved also.
 
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