FREEDOM FROM EXCESSIVE MORTGAGES, FROM PREDATORY LOANS AND FROM HOMELESSNESS

“All political power is inherent in the people, and governments derive their just powers from the consent of the governed, and are established to protect and maintain individual rights” .(Article I, State Const.)

 

With over 30,000 new projected homeless Washingtonian in the streets, many of whom become destitute because of foreclosures and-or bankruptcy resulting from medical costs and predatory loans, the Government has all the  more duties that much of this could have been prevented.   Hereinafter, a few proposals to fix this multiple problem.

MEASURE 1  :  LEGISLATION TO FAVOR ECO-CONSTRUCTED HOUSES FOR UNDER 45,000 DOLLARS: Legislation to promote affordable housing (meaning under  45,000 dollars if self-built) thanks to  eco-construction technology such as cob, (CIICK HERE for cob cottage under 10,000 dollars), or wood, clay (adobe), limestone, cordwood, bamboo, stone, hemp-biomass bricks, (popular in Europe), straw bale eco-houses etc., CLICK HERE FOR SOME EVIDENCE AND PICTURES, and also see the top link of freedom tools) to which must be added flexible zoning rules. Given the importance of a piece of "promised" land and  an affordable dwelling and alternative energy for all in terms of stress reduction, health maintenance, work options and crime reduction, the Action Plan's third executive order is focused on this  issue, the " executive order on alternative energies and eco-dwelling " (CLICK HERE).

MEASURE  2:  TAX INCENTIVES AND BONUSES ON FENG SHUI INTERIOR DECORATION,  ON ECOLOGICAL LANDSCAPING AND SUSTAINABLE BUILDING BIO-MATERIALS.  In this perspective, there will be tax incentives and State awards to foster healthy eco-communities and eco-housing both inside (via Feng Shui and other interior decoration techniques) and outside, via different bio-materials and eco-construction techniques. 

How a community is designed  - including the layout of its roads, buildings and parks -  has a huge impact on the health of its residents. For instance, nearly one-third of Americans live in neighborhoods without sidewalks and less than half of our country's children have a playground within walking distance of their homes. Contrarily to countries like France, there are few if any de-stressing and restoring parks in most cities. To this challenge, if elected, the candidate  will encourage Feng Shui and healthy eco-designs (including, but not limited to chlorine filters) in the People's house space, promote non toxic paints, wood and glues and home detox plants, encourage the planting of organic food gardens in the People's land space, grey waters system, off the grid electricity techniques, bio-material (green) on the People's outer house structure (or third "skin" after cloth), if only because up to 40 percent of carbon emissions emanate from mainstream houses and buildings.

MEASURE  3  . Low interest government guaranteed loans and an eco-homestead Trust Fund to help Washingtonians have his or her own piece of land. Because the personal savings rate has been the lowest it's been since the Great Depression, the State must assist those in need. Likewise for urban and rural community housing projects.  To this end, we should achieve 80 percent increase in the Housing Trust Fund (which is the State's most effective tool for creating rental and homeownership opportunities for lower income communities).

MEASURE 4:   ECO-HOUSING TRUST FUND: To increase the Supply of Affordable and eco-Housing, there will be an Affordable eco-Housing Trust Fund in both rural communities and in mixed-income neighborhoods via co-housing as well (to be created via statute).

MEASURE  5:  DETERING PREDATORY LENDING AND ASSISTING HOME OWNERS . In order to deter predatory lending, including but not limited to the payroll loan people who can require usury interest rates (over 300 percent), the candidate, if elected, will work on a consumer bill to require mortgage and payroll brokers not only to act in the borrowers' best interests, but to also lend at a lower interest rate for low-income families. In this perspective, there must be new lending regulation, better disclosures to loan consumers, counseling on financing a home etc.  

MEASURE  6:  PROTECTION FROM PAYDAY LOANS PREDATORS.  In the wake of reports that some service members were paying 800 percent interest on payday loans, the U.S. Congress took bipartisan action to limit interest rates charged to service members to 36 percent.  This measure should be  extended to all Washingtonians, because predatory lending continues to be a major problem for low and middle income families alike.

MEASURE  7: AFFORDABLE SHORT TERM LOANS  Some mainstream, responsible lending institutions are beginning to enter the short-term lending market to provide many Americans with fair alternatives to predatory lending institutions.  The candidate will work with his Secretary of Treasury to encourage banks, credit unions and Community Development Financial Institutions to provide affordable short-term and small dollar loans – and to request the predatory sharks to pay hefty penalty fees for unethical and illegal conduct.

MEASURE  8:  COMPASSIONATE SOLIDARITY AND ECO VILLAGES FOR THE HOMELESS. Compassionate solidarity via  eco-village structures would help to free socially excluded people from homelessness and the streets, that which will avoid the clogging up of  hospitals and prisons and the courts.

MEASURE  9:   Establishing a foreclosure prevention fund: Given the downturn in the housing market,  there is a need to  create  a State Foreclosure Prevention Fund that will increase emergency pre-foreclosure counseling, and will help families facing foreclosure to responsibly refinance their mortgages or sell their homes.

MEASURE 10:   Refinancing  mortgages funds to provide comprehensive supports to innocent homeowners. The fund will be partially paid for by candidate’s increased penalties on lenders who act irresponsibly and commit fraud. The State's auditor will need to participate in this vigilance. The program will also provide meaningful incentives for lenders to buy or refinance existing mortgages and convert them into stable lower 30-year fixed mortgages

MEASURE  11:  Lowering the People's Interest Payments with a New Mortgage Interest Tax Credit: Many middle class Americans do not receive the existing mortgage interest tax deduction because they do not itemize their taxes. The candidate will ensure that middle-class Americans get the financial assistance they need to purchase or keep their own home by creating a 10 percent universal mortgage credit that gives tax relief to Washingtonians who have a home mortgage. 

MEASURE  12:  Creation of a mortgage Revenue Bond : Mortgage Revenue Bonds (MRBs) are used to refinance subprime loans and provide mortgages for first time homebuyers. The candidate will strive to provide additional funds via more MRBs.