What might it cost to help out all the homeowners facing foreclosure?
Suppose there are 5 million needing help
Suppose on average $1000 a month would let them keep the home.
This would cost $1000 times 5 million per month
That is $5 billion a month
Comes to $60 billion a year.
Could that be right? Only $60 billion?
But look at what has been lost so far. Trillions. TRILLIONS!
It does not make sense.
Stop the foreclosures. That is the cheap and easy solution.
Don't give the banks 350 billion dollars.
Just give the debtors enough to make their payments.
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