A loan to bottom residential crisis.. 35yearsfixed@3%interest

US CONGRESS AND PRESIDENT OBAMA;

PLEASE CONSIDER THIS PETITIONb TO AUGMENT THE PAYROLL TAX CUT and Obama's mortgage LEGISLATION . iTS A PEOPLE INITIATIVE WITHOUT COST TO THE TAXPAYER.

Briefly: The  long term fixed mortgage is currently 30 years. This  petition to increase the 30 years to 35 years refinancing will substantially reduce the monthly amortization.  With extra money in the pocket, milions of  property owner will  energize  spending ,consumer confidence and help create employment. It will counteract emergence of watered mortgage.

Our government and Congress  are still finding ways to solve our residential woes.. We the people like to contribute our own solution . To be effective, application to this formula should be limited  to encourage property owners to apply at 35years within 2 years..

US residential crisis revolves around the owner’s mortgage standing which are classified into outstanding, on verge of foreclosure and foreclosed (bank owned)

Our mission is to sustain a living standard amidst a recession. We surmise that millions of property owners with a long term monthly extra spending money will redound to consumer confidence and eventual economic rebound.

A very affordable mortgage will reduce homeless and remove stain of foreclosure on original owners. This economic recovery fund is not derived from taxpayers but from the people’s initiative.

Outstanding mortgage:

Formula: 35yrsfixed@3%interest , will provide extra financial support to property owners to save, support college education , spend more on comfort, repairs and maintenance of the asset, even buy a new car. Generally contributes to consumer confidence. Banks are implored to reduce closing cost to a minimum.

Verge of Foreclosure:

The formula itself is a form of mortgage modification to save some properties from foreclosure. The substantial increase in monthly amortization is a hedge against a water mortgage.

Foreclosed property:

We also petition to absolve the foreclosed property owners from the stain of foreclosure to be able to purchase foreclosed properties in a bank under this formula. We encourage a PPP Private Public Partnership to invest on purchase and repairs of foreclosed properties from the bank with first option of loan application by the original property owners,

Statistics

With regard to shadow inventory (homes that are in danger of going into foreclosure), Barclays estimates that 4.6 million households are currently at least 90 days overdue on their mortgages. Barclays estimates 1.6 million distressed properties to be sold in 2010 and 2011, and 1.5 million in 2012. As a result, Barclays believes that home prices will fall 3 to 5 percent over the next three years. These are truly staggering figures.

Humble Request to petition signers”

Please sign the  author’s other petitions which will also enhance employment growth.  Note that  signatories are international. American  Breeders were traumatized  to sign their email scared of police and activist surveillance which can be solved with the petition’s  approval.

Please support human and animal welfare: sign care2 petitions:

http://www.thepetitionsite.com/2/humane-animal-sport-with-government-hsus-support-can-escalate-economic-and-employment-growth/

http://www.thepetitionsite.com/1/exemption-of-humane-invention-from-hr-2492s1947-and-cockfighting-laws-will-stimulate-employment-a/