Government Homeowner Rescue Program Pays $ 500 - $ 1,000 Mo Cash to Homeowners Toward mortgage payments

The Sub Prime mortgage crisis is taking more than homeowners.

Not many people know that mortgage companies and banks around the world have gone under because of their exposure to our toxic subprime mess.

ABN-Amro Hypotheken-Gruppe in Germany, a mortgage lender to close its mortgage operations this year, as did high street home loans in the United Kingdom. Chase Bank also shut down their mortgage operations in Canada. In spite of all this carnage all over the world, the Bush administration has been reluctant to "bail out" homeowners defaulting, but quick to rescue U.S. Wall St. favorite Too big to fail is essentially their raison d ' be.

While there is something that, for many of our pension plans sold and drank the kool aid too that a sub prime collapse of a Big Wall Street, hedge funds, investment banks, etc., would also negatively impact the main road. However, this unstoppable contagion makes even more imperative that the real problem is addressed and resolved as quickly as possible.

This, of course, is that Joe Sixpack and Mary can not make their mortgage payments. This is where the drug should be applied if the patient is to obtain good. Many of the defaulting owners were victimized by crooked mortgage brokers, experts and banks who just turned a blind eye to the fraud that was perpetrated by their cohorts.

Many of these homeowners have and are defaulting even before their loans reset because the original loan fraud was unsustainable, even at low teaser rate. Now, how could it happen? Combine these facts with the imminent recovery of millions of adjustable rate mortgages by 30-50% this year and there will be millions of homeowners who will lose their homes.

These defaults surely trigger the biggest financial disasters in world history! The only way to stop it is to help Joe and Mary pay his mortgage. There are no homeowner bailouts, said Bush, whose administration is responsible for the mess. In his haste to avoid a recession in 2001, they put us right in the path of a depression in 2008!

OK, well, private enterprise to the rescue! Tthe Metropolitan Business Council of New York, a financial consulting company staff has put together a unique combination of government support for entrepreneurship programs with tax and find a way for selected owners, who are literally willing to work for saved will be able to withdraw cash from the IRS to help them pay their mortgages.

These are not loans, should never be returned.

This assistance is potentially available to every home that has a job and is ready to work a part time home based business, as opposed to a second job at the mall, for example. The government provided tax benefits to the homeowner / contractor will generally be sufficient to free cash to be applied each month to help pay the mortgage.

The program was tested on a small scale in the New York area with good results. Participate in home / business owners have received $ 500 - $ 1,000 per month to use towards mortgage payments and other IRS titles that had caused them to skip their mortgage payments.

Although too early to declare victory, it seems that there will eventually be a "government program self-help" is not a rescue home, anathema to the Bush administration, but has the potential to stem the tide of financial disaster sweeping the world.

Keep your fingers crossed! ......