The Bains

Any workable sollution to the MORTGAGE MESS must benefit BANKS & BORROWERS. While no magic
answer these are ideas Washington should consider:
1. Discontinue adjustable rate mortgages – permanent fixed financing hard to find, so owners are
trapped.
2. Require lenders to refinance ARMs into fixed-rate mortgages – also extend life of loan if
necessary.
3. Reappraise properties in overappreciated markets – lenders to convert at the new appraisal
values.
4. Limit real estate equity lines of credit – only for amount of equity in property.
5. Give tax credits to home owners who pay on time – reward those who pay.