The current stimulus plan passed by the House and sent to the Senate leaves “housing pretty much unaddressed,” says Senator Lindsay Graham (R-SC).
“Housing was one of the causes of this mess and the stimulus needs to work that out,” said Republican Graham.
Graham favors a “Housing Trifecta:”
1. Money for the FDIC to hold off future foreclosures.
2. A $15,000 tax credit for any new home buyers to lessen the glut of unsold houses.
3. A national offer to renegotiate mortgages at 4% interest rate, guaranteed.
Graham said this ould provide “an enormous boost to our economy in the short and long term.”