Dr. Michael W. Cantrell, Sr. the visionary behind The Federal Housing Recovery Plan (FHRP) believes that once enacted, the FHRP will enable the housing industry to recover in less than 24 months from the date of its implementation. It will allow people who own a primary residential home the opportunity to save their home from foreclosure, ensure that property values will not decline due to the restructuring of loans, and mostly it will protect the everyday citizen and taxpayer from having to foot the bill for a bail-out plan and instead will secure the value of their homes.
The Federal Housing Recovery Plan is designed to bring liquidity to the markets and make at-risk securities more valuable and buyable on the open market; therefore lessening the effect of government involvement. The securities backed by this plan would inevitably yield a 102% increase in face value. Most importantly, it will not drive down the market prices of homes in and around the neighborhoods of people who do not require the assistance of FHRP and they will not be affected by the restructuring of FHRP Mortgages.
A brief example of how FHRP Mortgages will work –
Problem:
An individual or family owes $150,000.00 to their current lender and property values decline by 20% (on average) reducing the value of their property by roughly $30,000.00, and this individual or family cannot effectively pay their mortgage at the current rate of interest, but also cannot refinance their property due to the declining market values. However, they can afford to pay a portion of the mortgage loan payment every month, but that is not enough for their lender.
Solution:
The Government, through the FHRP would buy this mortgage for .62 on the dollar. This, in turn, would free up the liquidity of the banks or investment firms that otherwise would write off this type of loan to zero dollars; thus allowing funds to flow for the institution to lend more money.
The FHRP Mortgage Representative would negotiate the mortgage payment terms with the homeowner(s) to an amount they could afford monthly enabling them to stay in their home. The original mortgage loan would be back figured to a first lien mortgage that was agreed upon-becoming an FHRP Mortgage.
The difference between the old and new loan amounts would be held by an FHRP Mortgage Bond for up to 15 years with no interest due and be recorded as a second lien on the property. This lien would be required to be paid off when the property is sold or refinanced at or prior to the maturity date.
Conclusion:
The Federal Housing Recovery Plan enables the family to stay in their home, make affordable monthly payments, and not reduce the mortgage amount thus not reducing the value of other homes in their neighborhood.
The new mortgage at the lower negotiated amount now becomes valuable for servicing because the family is consistently paying their mortgage payments. When people are paying on their mortgages, banks and investment firms would be inclined to buy these FHRP Mortgages because they know they are secure.
Dr. Cantrell believes that in 15 years or less the housing market will rise to the point that their property value would also rise above their first and second mortgage liens. The family’s income will rise during this 15 year period also and will allow their credit to cure so they may be able to refinance the FHRP Mortgage and the government held second lien FHRP Mortgage Bond with traditional institutional banks, mortgage bankers… etc.
The second liens will be securitized by United States Savings Bonds. FHRP Mortgage Bonds will be sold to the general public, not companies, for .75 on the dollar. The Treasurer would determine when the bonds would pay out at 100%.
This is a short version of Dr. Cantrell’s plan to bring this country out of its current turmoil and bring the foreclosure rate down to about 1.5%.
Dr. Cantrell has been working in the mortgage industry for almost 20 years starting out as a mortgage broker in 1989, then working his way through the industry closing loans and selling bundles of quality mortgage loans to investment institutions on the secondary mortgage market. While other lending institutions began offering interest only loans and option arms – his company did not, as they knew this new way of lending with a potential negative amortization would lead to disaster in the long term.
Dr. Wald Carum of Almeda University recently had this to say about Dr. Cantrell’s FHRP: “This Plan demonstrates a breadth and depth of knowledge about its subject that can only come from a true outside the box thinker and experienced businessman. Drawing upon his life experience as well as his training as an MBA, Dr. Cantrell has constructed a workable and simple plan to help America out of its current housing crisis. In this nearly unprecedented time of financial turmoil, Dr. Cantrell recognizes that the essence of the problem and the solution lie within the housing market. As Dr. Cantrell succinictly theorizes, “The Federal Housing Recovery Plan is designed to bring liquidity to the markets and make at-risk securities more valuable and buyable on the open market; therefore lessening the effect of government involvement.†The last phrase is key to avoiding a slide into socialism. Dr. Cantrell’s plan maintains the predominance of capitalism and the free market system while allowing “the family to stay in their home, make affordable monthly payments, and not reduce the mortgage amount thus not reducing the value of other homes in their neighborhood.†Congress would do well to give Dr. Cantrell’s plan a thorough consideration and hearing. It makes more sense than anything I’ve read the past two months. I applaud Dr. Cantrell for his excellent efforts, for which he richly deserves his doctorate degree from Almeda University.†Wald Carum, PhD
Dr. Cantrell states “I look at this FHRP as a way to right a wrong. I have been on both sides of the fence. The banks and investment firms got on the wrong side of the fence and we now have to correct it. I offer my extensive knowledge to bringing this back into the right perspective and am very passionate about helping America out of this crisis.â€
America is angry. Especially the 90% of people who are able to make their payments on time and are watching the value of their homes continuing to decline due to foreclosures that are selling for .50 on the dollar. This plan will reduce or eliminate declining home values. It will close the Gaps, Fannie Mae, Freddie Mac, and FHA now in place and will bring confidence to the general public that their housing values will remain stable, and their investments, 401Ks and retirement plans that are tied to the financial market will also recover. This is a true recovery plan.
FHRP Mortgage and FHRP Mortgage Bonds must become a reality – our future depends on it. This plan can start working in as little as 90 days. Contact Dr.Michael W. Cantrell, Sr. mcantrell@fhrpmtg.com or visit the website for a free copy www.fhrpmtg.com for more information on this plan that he hopes will get before the right government officials quickly. For a more detailed example or a copy of frequently asked questions please contact Michael Cantrell or his virtual assistant Marie Tucker of Girl Friday Services of Maine at girlfridayservices08@yahoo.com or visit www.fhrpmtg.com.
Dr. Michael W. Cantrell, Sr. has the experience, knowledge and information on exactly how we can turn the troubled housing market into a booming housing market.
Get the full plan www.fhrpmtg.com or email mcantrell@fhrpmtg.com.Â
Via EPR Network
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