To: President Donald Trump
Debt Forgiveness to refloat underwater mortgages
Share the pain with shared appreciation. Reduce underwater mortgages of working families now with the promise that the forgiving lenders will share in any appreciation of increased market value of properties sold in the future.
Why is this important?
In response to President Obama's position that we all need to "share the pain" our government has forgiven the banks with the bailout now it is time to end the foreclosure crisis by forgiving the homeowners. Begin economic recovery where it is needed most – in the homes of working America. Debt forgiveness is moral & just & necessary.
A "shared appreciation" agreement will lift homeowners out of unsupportable mortgages and allow banks to recoup a portion of any positive equity of properties sold in the future.