Why not let people with current 401K plans to withdraw their money, no penalty to purchase a second home if they wish or any home they think might go up in value and allow future contributions which previosly went to their 401K to go to monthly mortage payments if they wish.
I have a 401K plan that has not done well for the past 4 years really and I would love to buy a second home that someday I might retire to and pay for it now rather than put more money in my 401K and have the WALL STREET crooks skim off the top and make bad choices with it.
. People like me that have a job and would pay a second mortage but are trapped because we can't draw out of the 401K which is down 26% this year already. It seems to me a good plan qualified buyers buying the glut of homes rather than Govt. I submit for your thoughts
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4 comments:
I like that idea.
I also like the IMMIGRANT HOME PURCHASE Plan: Anyone with a clean criminal record can c'mon over and get a green card if they invest >$200K cash to purchase their primary residence. They will be eligible for citizenship in 7 years if they remain in the home (or move up) and meet all the other requirements (including English fluency).
$200K is roughly the average US home price.
Not my idea but I like it ~
Quit fiddling with the economy.
What? You haven't a creative bone in your body. Paulson + Bernanke have been "fiddling" with the economy big time - THANK GOD!
If Dubya/Gop Congress hadn't so screwed things up, we wouldn't need to fiddle like like the fiddler at Riverdance!
Rich, your constant chanting of these Democratic talking points has grown tiresome. If you cannot admit that Democrats also had a huge hand in the creation of the mess we are now in than you simply have zero credibility. Remember the tape of them blocking any closer scrutiny of Fannie and Freddie is a fact.
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