The Trump Federal Assistance Program
Trump Relief Underwriting Mortgage Program
Mind you, as far as I know, this program is not on the table for our president to consider but if he really wants to help the citizens of the country get through perhaps the toughest times in modern history, this is what I suggest.
Through the use of his Emergency Powers Act I propose the president order a freeze on all mortgage payments in our entire country for 3 to 4 months. As you might know, mortgage payments are usually the largest debt that most working people have. It uses the largest portion of our monthly incomes. If we froze these payments for 3 or 4 months that would allow more people to stay at home and still struggle some but less because without having a mortgage payment they could still use the stimulus package for ordinary living expenses but they could trim down other expenses, such as entertainment, dining out, not driving as much and basically cut everything down to the bare necessities so they wouldn’t suffer much at all.
I propose that the number of payments you freeze, that they do not occur any late payments or accrued interest that would be tacked on to the end of the term. Freeze the payments as you would freeze time, place the payments that are frozen at the end of the mortgage term and have the people resume their ordinary payments once the freeze has been lifted. The delayed payments at the end of the term would be the same. The end of the term for our mortgages could be from one to 40 years out into the future. This would provide relief now when we are in dire need. Many of our mortgages are federally insured so as the insurer of the loan, the federal government, can just cover their assets knowing they will receive payments down the line.
I propose that we call this relief program the Trump Mortgage Relief Program and give him the credit because he already gave trillions of dollars to the people who own the banks and cooperation by way of tax incentives that is just fat and free bonuses to the rich. Even the president says this it was because of this package that we are not as bad off as we would be otherwise. I am not sure that was his intent but who cares, give him the credit. The word Trump in the name of the program can stand for Trump Relief Underwriting Mortgage Program. T.R.U.M.P. Someone more poetic than I might come up with a better name but it will go down in our history as a program that bailed out the majority of Americans at a time of great need and our president would have his smiling face right next to the bill signing it.
Have the white house finance team do the numbers regarding how much cash this puts into the economy immediately. The banks know what is due to them, that is a fixed amount. When the program is instituted they can report directly to the FEDs so no person needs to do anything except bunker down. If there is any actual loss the FEDs can work out the details with the banks or creditors by way of delayed or forgiven interest payments.
There are many other companies that are in a position to do the same, freeze payments due for 3 to 4 months so all people out of work due to this pandemic can stay at home and allow the virus to stop spreading. People with auto loans, furniture payments, or appliance payments could do the same. If we think both outside and inside the box, we can get through these troubling times but people you need to stay at home as much as possible of wear protection once out in the public and practice social distancing.
As far as the congress, house, and senate, why would any of them fight this when it covers the very people they were elected to serve and to protect? It sounds like a win-win to me. Make sure you give Mr. President credit for this program. He likes that sort of thing.
At this time I know of no one in the white house so could you kindly pass this message on to someone who knows someone who might know someone else that can get this message to the President. Spread it through your Facebook network. Time is of the essence.
Selah!
