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40 Year Mortgage Restructuring

by TaxMama on December 22, 2008

One of my clients had an interesting suggestion.  Have the banks offer the following to those with home loans in danger of foreclosure.  The bank restructures the loan for 40 years with an affordable interest rate.  The individuals have to remain in the home for a specified amount of time (5-10 years) – which would give the economy some time to settle down.

Submitted by:
Teresa Cates, CPA
Cates & Company, CPA
http://www.completesiteinteractive.com/catescpa
PO Box 650
Kingsburg CA 93631
(559) 238-3808
(559) 238-3878 fax

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