AboutBobbi Buehl Expertise Home mortgages is my expertise
Experience Experience in the area 15 years Organizations Mortgage Brokerage Education/Credentials BS in Chemical Engineering, BA in Sales and Marketing. Licensed Loan Officer for 6 years and I have worked as a Loan Officer for 15 years.
Question I've been thinking about the recent collapse of several prominent banks in the U.S. and the subsequent bailout the government signed into law. Wouldn't it be better if the government loaned part or all of the $700 billion bailout package to homeowners (or business) to repay the mortgage (or loans)? They could then repay the government's loan by purchasing insurance for their families (or workers)?
Answer Hi,
Yes it would have been smarter if the Government had given the bailout money to the home buyer's. But, then companies that are receiving the bailout monies would have went belly up. The companies have a share in your retirement funds, insurance and businesses, so to let them fail means you would have lost everything!
I do believe that the companies receiving a portion of the monies should be watched (AIG extravagant working holiday) closely to make sure they are abusing the funds though. That to me is the greatest week link in the bailout.
Hope that helps clear a few things up for you... : )
