Housing Crisis & Washington

U.S. President Barack Obama pledged up to $275 billion last week to help stem a wave of home foreclosures, part of a broad effort using massive sums of government money to push the country out of recession. What?

This is ridiculous to think that there is a "blanket solution" out there for a few reasons.

First: Why would someone who is current with their mortgage continue paying? If they stop paying their mortgage, they will get money from the government. Gee, how many people will just stop paying their mortgage? What will that do for the banking system and our economy?

Second: It's not the bank's money, it's investors money. The bank is just the distributor. How can Washington dictate to the bank to make less money? Is Washington going to go to every investor on the planet and get them each to agree to take less money? Of course not. It's all just "Pelosi" talk (just my word for BS).

The only way to fix this is One Homeowner At A Time.