Mortgage Manipulation

Mortgage Manipulation

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Dr. Charles F. Tolbert-

‪Dr Tolbert‬
For US Senate Fl 2018


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Presentation July 7, 2012 DR Charles Tolbert, has started what the banks and government should have done without him pushing them!

Basically if the Government were to standardize mortgages we would not have the foreclosures that have happened.

Each person would have a new mortgage of equal to, or lesser than, the true market value of their home.

Each house that is mortgaged would have a fixed 2 to 3.5 per cent interest rate (depending on their ability to pay) on their mortgage and the payments would be amortized over 40 years.

Everybody would have their taxes and insurance payment collected each month into an escrow account to be paid by the mortgage holder.

The only people who would then consider this “not fair” would be the people who paid cash for their homes. So that there is not an uproar and to be fair to the entire American public, give the cash buyers back the money in excess of 100 per cent of the market value of the home today.

The problem then stays with the people who are currently renting and are doing so due to the house they lived in being foreclosed on. Those people would be entitled to purchase (regardless of credit) but with proof of income OF COURSE… a home with 100 per cent financing at 3.5 per cent interest fixed for 40 years. The banks would pick up the closing costs of the purchase and this would be funded by the banks and would be in return for the homeowner not to sue the bank that foreclosed on them.

If we do not address the crisis that is currently rearing its head regarding the foreclosure process, the crises we have seen so far with pale in comparison. This would give incentive to Americans not to sue, and be able to own a home again!

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