Here is my solution for the institutions that failed/are in trouble due to bad mortgage debt: The government buys these guys out and takes title to all the properties that they're holding a mortgage on. The people living in these homes/etc then have 3 options. 1. Pay your loan current, make all remaining payments according to the loan documents, refinance, do what ever it takes to get out of default. 2. Pack up and get out, save the hassle and expense of the eviction process. 3. Sign a quit claim deed to the government. The government then forgives whatever is owed on the mortgage and the occupants then receive a 1yr lease with rent at fair market value on the property and get to stay in the home. The government then is required to immediately place the property for sale to anyone who qualifies for a loan/has cash to pay for it. The 1yr lease remains in effect and can only be broken by material non-compliance on either side. IE renter not paying rent or landlord not maintaining the property. IE roof, mechanicals, etc.
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Today's Featured Article - Identifying Tractor Smells - by Curtis Von Fange. We are continuing our series on learning to talk the language of our tractor. Since we can’t actually talk to our tractors, though some of the older sect of farmers might disagree, we use our five physical senses to observe and construe what our iron age friends are trying to tell us. We have already talked about some of the colors the unit might leave as clues to its well-being. Now we are going to use our noses to diagnose particular smells. ELECTRICAL SMELLS
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