Organizing for America | Wayne Daniels's Blog: If the homeowner could purchase...

If the homeowner could purchase...

By A Change Is Needed - Apr 21st, 2009 at 4:29 pm EDT

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If a homeowner were allowed to purchase their own home at the same price said home was purchased in the sale of that foreclosed home, they'd be able to afford it too. There are radio ads that tout that some are paying as low as $300 per month for their mortgage because they purchased a foreclosed home. Generally speaking, the homeowner that lost the home to foreclosure could more than likely afford $300 per month themselves. Why not let the homeowner re-purchase their own home at one of those bargain basement prices at which wealthy people buy up foreclosed homes? Talk about stimulating the economy? Now that same homeowner would be paying $300 per month as opposed to $3000 per month! They get to stay in the house, pay local taxes, spend money on home maintenance, etc. That's stimulus. Just a thought.

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