Mortgage Reform

By: Katie, Katelynn, Collin, and Cody

Problem With Mortgage

When a homeowner cannot pay their monthly mortgage payment on their house, the bank will take away the house and the homeowner loses all money already paid to the bank/mortgage company.

The Solution

Banks/mortgage company and homeowner will split the payments already made when home is foreclosed on.

The Mortgage Reform Action

The bank will giveback 60% of the money to the home owner and keep the other 40% for themselves.

Who Will This Mortgage Reform Help?

This Mortgage Reform will help people struggling to pay their mortgage.
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What Will the Bank Do?

The bank will give back 60% of the money already paid on the home loan/mortgage. ( If they take your house away for unpaid bills)
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Where Will This Reform Take Place?

The reform will take place across the nation of the United States.
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How Long Will This Mortgage Reform Be In Effect?

This Mortgage Reform will be in effect for at least 7 years.
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Why Does The United States Need This Mortgage Reform?

Instead of the bank taking all of the money for themselves, they are somewhat splitting the money between them and the homeowner (win,win situation) - the bank will also be more willing to work with the homeowner to get them back on track with their payments.
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