It’s The Mortgage Holiday time……
Since it was introduced nearly two years ago, I have written several articles regarding The Mortgage Holiday. Lo and behold nearly two years later as the housing/mortgage bust continues, nearly all of us have sat and watched program after program, dollars after dollars spun before us, but the results have been the same. Ineffective or Paltry results.
That’s why as we enter another holiday season, The Mortgage Holiday represents the best shot of plugging the foreclosure hole while stimulating the economy…….AT THE SAME TIME.
The Mortgage Holiday speaks for itself but its adoption and understanding must be fueled by people and political leaders.
Surely, foreclosures have been dominating the news and while this topic is frequently discussed a couple of specific action items are needed to create movement.
1. PEOPLE MUST READ THE PROGRAM (it is a very easy read but you can’t discuss something you don’t understand).
2. PEOPLE MUST CONTACT THEIR LOCAL POLITICAL LEADERS as it will take political leadership to make the program a reality.
Unless you are willing to do 1 & 2, you will be left on the sidelines talking about issues instead of DOING SOMETHING ABOUT IT.
footnote: The Mortgage Holiday is supported but unfortunately as politics go, it’s support is partisan. Joe Madison of “The Madison Show – XM/169 – The Power” in a recent interview with President Barack Obama handed him a copy and asked that he review it. The founder of The Mortgage Holiday – Mark Hempstreet, who happens to be a Republican has provided just about every elected official and interested party a copy of the proposal. Everyone claims to like the program but for some reason – there has been no support???? Why many ask – it makes sense and everything else HAS NOT WORKED!!!!
Democrats thoroughly support the program, however Republicans are not supportive for the very notion of being contrary to Democrats. Also, the banking lobby is very aggressive in making sure something like The Mortgage Holiday does not receive a public hearing.
In addition to reading the program Senator Dodd and Congressperson Waters are holding respecting hearings to discuss issues regarding foreclosures and of all the strategies discussed, if the people pressed the case, then politicians would be forced into action.