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Make banks give break to jobless
The Gazette Opinion Staff
Nov. 5, 2010 12:52 am
Our government leaders need to pass some guidelines on making all banks or any other loan companies that sell home or automobile loans to be forced to only be able to collect a percentage of household income if people who had good-paying jobs lose their job and can't afford the same payments.
This would allow people to stay in their homes and keep their automobiles. The loans would just be extended and nobody loses and no families get uprooted.
This would allow people to take lesser-paying jobs and would be less of a burden on our government and help reduce our debt.
Our government bailed out the banks for making loans that were based on our economy at that time. Now it needs to give homebuyers a rate that they can pay.
Allen Gage
Alburnett
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