Bailout - Tell me what isn't a bailout? or Lend the money to experienced rehabbers
Another key point of dispute is $3.9 billion in the Senate measure for buying and rehabilitating foreclosed properties. The House's band of conservative "Blue Dog" Democrats opposes the money, arguing that it would swell the deficit unless paired with cuts or tax increases to cover the cost. ... The White House singled out the money in its veto threat, calling it a bailout for lenders who helped cause the mortgage meltdown.Senate passes foreclosure rescue - Yahoo! News I just read the above extract and story and article on Yahoo News and couldn't help but question: What isn't a bailout? Depending on one's definition of bailout, any help that the government provides to anyone or company in a distressed situation could be considered a bailout. How can they single out something as a bailout is my question... While I don't know that we'll solve the bailout debate, maybe a better solution (and not having read the Senate measure maybe it's already in there), why not offer some insured lending programs to experienced (emphasis on experienced, no first-timers) rehabbers who get the work done and sell them to single-family investors or home buyers? They're giving people and companies work and keeping homes from blight. What do you think? Could this be a solution so that the whole bill isn't vetoed?
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Tags: bailout, rehabbers, lending, economiccrisis, housing, lending practices, mortgage meltdown, veto threat, Blue Dog" democrats, foreclosures
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