Some homeowners at mortgage tipping point

24 05 2011

Article:

http://www.moneyville.ca/article/989683–some-homeowners-at-mortgage-tipping-point

Discussion Questions:

1) Should the government help the 200,000 homeowners who would be unable to cope if housing rates do go up?  Why?

2) How can the banks intervene to keep these mortgage rates steady as they are and not have defaults?

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One response

26 05 2011
Nahee Kim

1)Government should help the homeowners since 200,000 homeowners contribute much to the GDP of the country. By reducing the tax on the houses or giving them better terms for their mortgage, they will be able to focus their money on other stuff such as food, and house products which will help the economy (GDP of the country).
2)Banks can intervene by giving the homeowners less interest on loans. In that way they can borrow money and expect to pay only a little more back and they can give more alternatives such as having smaller payment over a longer time.

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