THE PRESIDENT’S NEW CABIT FIX FOR THE BAD MORTGAGES AND TOXIC ASSETS IN THE HOUSING INDUSTRY IS A FAILURE (MAR 9, 2009)

3/9/2009 5:38:56 AM Dear God; I have lost faith in the 44th President and his staff wholeheartedly. The recent 275 billion federal programs to restructure the foreclosed property situation is a prime example. Here is one of the best ways to temporarily fix the matter. Remove the 30 year mortgage and go with a 60 year mortgage and refinance the home until the recovery of the housing industry aligns with the economy. The house flipping has to be addressed after you stabilize the mortgages but by cutting the mortgage cost by half for five to ten years; you allow people to get back on their feet. The house flippers and bad loans can go bankrupt. This temporary fix can also be extended to the general population to prevent bad loans from increasing toxic assets. Move all of them to a safe 60 year loan at the feds neutral interest value. As incompetent as your administration is, I encourage all Americans to rid you before you leech off our lives more and it is too late. The sooner you are gone, the better the country will be.