Where’s my mortgage moratorium?

A quote from Plato’s (Republic) “necessity is the mother of invention “.In these trying times bureaucracy should temporally release it’s cap on Adhocracy allowing a gradable antonym of the traditional mortgage to evolve, a binary mortgage that would allow the separation of the land and dwelling on it.
We are in an informative age where the average household has cable TV service, internet service and cell phone service these services are not considered essential, but they are weaved into away of life. So they should be considered semi-essential.
Low and moderate families with children find it hard to meet the cost of tradition mortgage that make a buyer invest in the house and the land the house resides on. Binary mortgage would allow a buyer to purchase the house without buying the land it resides on. At which time the buyer of the house will agree to pay all land and house taxes and a residing fee, to the owner of the land .The buyer of the house would retain the privilege and privacy the land provides.
The binary mortgage would reduce the cost that a traditional mortgage would have required, by about one third. The binary mortgage can be sent to a federal land bank where it would be reviewed for sanction if exceptive the seller of the land security part of the binary mortgage would receive liquidities or federal bonds and the land security would be held at the land bank or at which time the issuer of the binary mortgage can hold the note for it’s self or for distribution on the open market.
The land security part of the binary mortgage would act like a bond security with a low risk low yield depending on the parameters. The dwelling part of the binary mortgage would act like a stock security higher risk higher yield again depending on the parameters.
The binary mortgage would make the American dream affordable to more low and moderate families with children, also to anyone wanting one. By lowering the cost of investing in a dwelling, would in return lower probable risk of failure.
In the market if investors see the binary mortgage and its parts as prosperity into which they can capitalize on in the free market that in return would bring confidence that this new product might evolve and open new probabilities of thing to come.

Apparently the writer does not realize that the value of the homes of those owners who are still able to pay their mortgages will continue to fall as long as a large portion of home owners fail to meet their payments. Until there is a floor put in to the housing market the economy and the market will continue to drop. Propping up financial institutions will not accomplish this. Most banks have already realized this by loosening short sale requirements to keep the flow of homes on the market going. Direct intervention by the government to distressed home owners is the only real solution. Cut out the middle men (Banks) who got people into these bad mortgages in the first place and re-set the market. It is the wrong assumption to state that all of the home owners who are in trouble were speculators or lower class who should not have owned a home in the first place. The simple fact is that home prices rose over 100% in a short period of time and that even a six figure income could not afford a 30 year fixed rate mortgage on most home sin places like California. This was the ultimate catch-22 organized by the mortgage and building industry. I just wonder why is it that it is okay to help a Bank with its poor judgement but not an individual citizen?

Your an idiot the moratorium would be on Foreclosures not get out of making your contractual payments stupid

I don’t know what the fix is for the mess in real estate. I am part of the problem but so is my mortgage holder. I ran into a problem that left me behind 1 month on my mortgage. I promptly notified them of the problem only to say they could nothing till the account was completely caught up. Problem was I could;nt catch it up and make the normal payment. Finally they said send what u can but above the normal amount due. So I did for 3 months. Then I noticed that my bill showed me 30, 60 and 90 days late when I had sent them my payments above the minimum. By the time I could get an answer from them they decided not to post my payments sent the checks back and with-in 3 days I received a notice of foreclosure proceedings. So I went from 1 month to 4 months and all the legal expenses etc etc,, so before u poo-poo on those who don’t make payments maybe u should not generalize that all of us deserve the pickle we are in cause some of us don’t deserve it. I feel no love loss for the banks and let them reap what they have sown.