A Plan For America To Save Homes,
Create Jobs, And Eliminate The Federal Debt

We are not asking for any money or donations.
We are asking only that you pass on this plan to friends and neighbors.

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The Challenge

Although it is possible to poke holes in anything, the foundation of this plan is sound, which is why it will quickly turn the economy around, promote prosperity for the coming decades, and eliminate the deficit. But because the purpose of this plan is to save the American economy, if any politician, government leader, business leader, or anyone in the media has a better plan, send it to us and we will post it right up front on our website for everyone to see.

Let’s face it.

Most Americans are making less than they did five years ago. This plan will help compensate for lower wages and encourage people to work hard and save to purchase a home they can afford. It will raise the living standards of Americans.

It can be

immediately – in 30 to 90 days. This plan can and should be implemented immediately, because the policies now in place have failed to turn the housing market around or to create sufficient jobs. But the plan should pass through Congress with no attachments – no pork-barrel add-ons that give money to special interest groups or states.

We need to act now

If we do not, we see another 5 or more years of slow economic growth. We see people getting poorer, money harder to come by, and a continued lowering of Americans’ standard of living.

It would be sad to watch other countries implement this plan while we do nothing. And we believe there are other countries that will.

We first published a similar plan on December 9, 2008 in USA Today. It should have been acted on then. If it had, we believe that today:

* Unemployment rate would be less than 5% (not 9.1%).

* House prices would not have fallen in 2009, 2010 and 2011. In fact, we would have seen gains of 10% or more during those years.

* Dow would be above 24,000, not just over 11,000.

* The US debt would be less than $10 trillion, not today’s $15 trillion, and it would be paid off in another 10-15 years, which means there would be no US debt to drag down future generations of Americans.

Our Outreach

We will be publishing this article in 25 major metropolitan newspapers in the following areas:
San Francisco, CA
San Diego, CA
Los Angeles, CA
Ventura, CA
Bakersfield, CA
Modesto, CA
Stockton, CA
Fresno, CA
Sacramento, CA
Phoenix, AZ
Orlando, FL
Miami, FL
Sarasota, FL
Bradenton, FL
Naples, FL
Fort Myers, FL
Fort Lauderdale, FL
New York, NY
Chicago, IL

No copyright.

The description of this plan is not copyrighted. Anyone, including any magazine, news- paper, or media outlet has per- mission to publish all or part of this plan as well as any or all of the copy on the web site RemortgageAmerica.com.

The Plan:

The US government offers every US citizen a 30-year mortgage at a 1%
fixed rate of interest, with interest only payments for the first two years.

All financially qualified US citizens, not just those in immediate danger of
default, would be able to finance a new or existing primary residence,
with a $500,000 lifetime limit... read more


The reason for the plan:

Government programs have had a tremendous impact on big business. But the “trickle down” effect has not worked. Implementing this 1% mortgage rate for the people adds a “trickle up” boost to the economy because people will be able to spend and save more, and it is consumers who are the real job creators. The decline in net worth, wealth, and America’s standard of living will be reversed. Most important, the dignity and self-esteem of the American people that has been lost will be regained... read more


Why the plan will create jobs:

It will let the people save and spend more.

When the US Government refinances a 4% mortgage at 1% and you pay only the interest for two years, it will cut the monthly payment on a $180,000 loan from $859 to $150 a month. That is an extra $709 a month! An extra $8,512 a year! For two years. Money you can save or spend. (Minus some additional taxes due to a smaller interest deduction.) After two years, if you have a 30 year mortgage at a 1% fixed rate, instead of 4%, your monthly payment on a $180,000 loan is $614 instead of $859. That is an extra $2,940 to save or spend every year for the length of the mortgage... read more


Why the plan will save homes:

It will stop home prices from falling.

It will stop people from walking away from “underwater” mortgages by making their mortgage payments less than rent, which will prevent many foreclosures and turn the housing market around. We believe this plan will increase home values, which will offset some of the financial losses experienced during the past years and help stop foreclosures... read more


Why the plan will eliminate the debt:

It will eliminate the federal debt in 10 – 15 years.

This is a government loan program — not an increase in government spending — which means the money will be repaid. Plus, the economic expansion it generates will increase federal and state revenues while decreasing federal and state spending on unemployment and welfare. And taxpayers will have a smaller interest deduction, because they will pay less interest on their mortgages. Annual deficits will turn into surpluses of $1 trillion to $2 trillion a year, which will eliminate the $15 trillion debt in 10 to 15 years if all the extra money is put toward the debt and not spent by Washington... read more


The bottom line:

US citizens deserve and need this plan.

The American people who helped build this country deserve and need a plan like this — a plan that will help them directly while also stimulating economic prosperity, just like the GI Bill after World War II that gave returning veterans the opportunity to purchase a home at a low mortgage rate and virtually no down payment. In fact, the GI Bill is the model for this plan, because it was the GI Bill, not World War II, that ended the Great Depression and created the greatest era of expansion and prosperity in American history. Today, as then, the purpose of a plan focused on people and housing is not only to end a long-lasting recession, but to create prosperity that will last for decades... read more


What do the numbers look like?

There are almost 100 million housing units in America, with an average value of $200,000. The total value of existing mortgages is estimated to be about $10 trillion, although falling prices have reduced the market value to about $8 trillion. If all of those mortgages were quickly rewritten, the government would have to come up with $10 trillion. However, this plan will bring many more people into the housing market, so that when all is said and done we expect it could require as much as $14 trillion, which is no more than the current debt. And remember, this is not government spending, it is money used to make loans that will be paid back and that will soak up virtually all houses in foreclosure. If you want to see more numbers read more


Where would the funds come from?

One answer is from the Federal Reserve that has been lending money to banks at 0% for the last few years. No one can say that past policies failed to help the financial industry. Now it is time for government to help the people first. If large banks can receive loans at 0%, why not mortgage loans for people at 1%... read more


A second chance

We first published this idea on December 9, 2008 when we paid for a full-page in USA TODAY. Since then, we have made some adjustments. At the time, we believed it was the best way to turn the economy around and avoid a long-lasting recession or a possible depression. Now, three years later, we believe it may be the only way to jump start the American economy, save homes, create jobs, and increase incomes. This is a win-win plan that puts the American people first. It is good for all Americans, including large and small businesses, government, and Wall Street... read more


Your opinion is very important.

Vote now on the Remortgage America Plan so that everyone — people, politicians and the news media — can see what you think. Whether you vote for the plan or against it, whether you have a positive or negative opinion, it is important that you post it. Even if you simply post a Yes or No, it will help.


If you would like to leave a comment, we will read what you have to say. It is also important for you to pass this plan on to friends and neighbors. Send e-mails to your friends in other states and tell them to come to the website. They can then pass it on to others. And they can pass it on... read more



Click here to Voice Your Opinion



Contributor and spokesperson: Dennis F. Paulaha, Ph.D. Economics


Your suggestions

If you have a suggestion that can add to this plan, we want to hear from you.


One suggestion we heard was to limit interest deductions on houses in order to increase tax revenues. Instead of being able to deduct interest for up to a $1 million mortgage, which is the current limit, reduce the interest deduction limit to a $500,000 mortgage. The idea is that anyone owning a house valued at more than half a million dollars should be able to give up some interest deductions and pay a little more taxes to help the country out.


We will post the best ideas we receive on our web site so you can follow the development of this plan. Leave your suggestions here


For media, business leaders, or government people who want to contact Dr. Paulaha, Leave Message Here


Vote Here:







Anonyymous said...

This is a GREAT idea. It is simple, straight-forward way they can help the taxpayers of this great country. I am bitter and angry that our government is helping businesses to prevent failure. What about the common man?

Anonyymous said...

You are spot on! Let''s make this happen. Its consumer spending that will drive job and wealth creation. How can we make this a reality?

Anonyymous said...

This solutions is "Right on the money." Now, let''s hope this spurs some fast interest and action in Washington, and that something gets done soon.

Anonyymous said...

Great idea!!! I support it. One way to help America get out of this great recession. It would free up money for purchases and paying down debt. I hope our leaders in Washington take a look at this plan.

Anonyymous said...

If a presidential candidate adopts this plan, he/she has my vote!

Ann Meeter said...

I bought my townhome in 1999 at $132,500. The current comp is $80,000. I have never missed a payment. My mortgage balance is $121,000. I can not refinance. If this plan came through, I would put money into my place. As it stands now, I won''t spend a dime. Make this plan happen. It is time for main street to get help from the tax dollars that we pay.



Anonyymous said...

The government has an obligation to help individuals affected by the irresponsible policy making that allowed banks to take risks that the rest of us are now paying for. This plan could prevent the thousands of people whose home values have plummeted to a point that they have no options other than bankruptcy.

Kristine LaRue-Sawkin said...

I think this may be just what America needs to get moving in a positive direction. There are other "ideas" out there that I consider "take away" or negative ideas in my opinion. This is one with a positve outlook on the problem. Passing it without and "special interest group, pork-barreling" is one way to start America moving. I also support putting more limits and regulations on our elected officials.

Anonyymous said...

Best idea I have ever heard to get the USA out of the mess were in. Do it now.

francis adams said...

it''s a great plan. I like particularly that it restores a degree of equity to the actions of the government, which has saved banks, brokerages, auto companies, etc, but done nearly nothing concrete for ordinary citizens. it''s about time, don''t give up with this idea, the key is getting it out to many, many, many individuals, and creating a groundswell that politicians can''t ignore.

Anonyymous said...

I LIKE IT. The so called geniuses have tried everything else to no avail. Why not give this a try.Sometimes a complex situation needs a simple idea. Good luck getting it past special interest.

Anonyymous said...

I think everyone should put the link to this plan on facebook, twitter, and linkedin.

Robin said...

I made a Facebook page, called Remortgage America, to help get the word out. I copied information from the website. Please like the page, and share with your friends. We need to gain a lot of momentum. Thanks!