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   From: RegulationReform@USA.com   
      
   250 Year Fixed, 100% LTV, the taxpayers bail out the lender and the borrower   
   on an   
   instance by instance basis.  For conforming loans - up to nearly $500,000 most   
   places, up to nearly $750,000 in places like Los Angeles, Orange County, and   
   San   
   Francisco, (nearly $700,000 San Diego).   
      
   None of this adjustable rate mortgage, 5/1 10/1 ARM sh*t, which caused the   
   previous mortgage crisis.  i.e. the loan adjusts from Interest Only (or fixed   
   payment), to full payment (or adjustable rate payment) after 5-10 years, the   
   borrower can't make the new higher payment, the house is under water, and the   
   borrower thus can't refinance, and defaults on the mortgage.   
      
   With a 250 Year Fixed, the payment is basically the same as Interest Only, the   
   payment always stays the same, the house is paid off in 250 years.  (70% of the   
   house is paid off in the last 30 years.)  For this program to ever come into   
   existence the taxpayers need to insure the loans.   
      
   There will be no equity in the homes except for potential appreciation - for   
   instance with a normal 30 year fixed, you pay double the price of the home   
   over 30   
   years to interest, but the house doubles in value, and you get your interest   
   back.   
      
   Here, after 30 years, half the home would be paid off.  For instance, what   
   started   
   as a $500,000 loan on a $500,000 house, is now a $500,000 loan (technically   
   $499,946.60)  on a $1,000,000 house.  In another 30 years, or 60 years total,   
   another half the home would be paid off again, so 75% total, now a $500,000   
   loan   
   (technically $499,769.65) on a $2,000,000 house.  Just saying.   
      
   Everyone will be able to afford a mortgage, and we can get rid of rent, which   
   is   
   just screwing people as they never get it back.  With a home loan, you get all   
   the   
   interest you pay back, through appreciation, over the long run.   
      
      
   Loan limits have already gone to 97% LTV on conforming loans, so they'll have   
   to   
   bail out the banks in the future again probably, so might as well make it 100%   
   LTV, and bail out both the lender and the borrower, on an instance by instance   
   basis, so the borrower can turn right around and buy another house.   
      
   If the house is underwater and the borrower defaults, as is easily possible,   
   there   
   could be no equity in the home.  So the banks need to be insured by the   
   taxpayers   
   for this to ever be.  Everyone gets a home.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)