Free government money for underwater homeowners!

It is good that our government is so rich. They can solve any problem by printing and throwing more money at it. However, if they can bail out the banks, they may as well bail out the people who paid to bail out the banks. Unfortunately, some people are already predicting the plan will be exploited and not work:

http://www.nytimes.com/2010/03/08/business/08short.html

 

It's an interesting idea. There is a heated discussion about real estate investing in another current thread. Perhaps some of the property investors can chime in. I have never used this, but am told it's an excellent tactic for getting rid of a nonpaying tenant--give them a few bucks to leave. Win-win.

 

In the NY area it's done a little differently.

Instead of paying the tenant to leave, you pay two big strapped guineas to throw them the fuck out.

Problem solved.

 

it can work, especially in states where the eviction process itself is such a burden.

Some people will take the money and run.

 

Deadbeat "homeowners" did more to crash the banks than they did to bail them out.

 

Pouring non-flammable toxins in the basement works too. The house becomes a hazmat site, instant eviction. You were planning on cleaning out the besement anyway.