Since we long ago left financial-reality-land here in the US why can’t the Fed just monetize the portion of the mortgage that the people can’t pay
Let’s take the working farm couple that makes $30K per year and has a $700K mortgage as an example (unfortunately, this couple actually exists and actually has the mortgage)
Let’s use very round numbers and say the couple is capable of servicing a $100K mortgage using traditional financing
The Fed writes a $600K check to the mortgage holder and creates a lien against the property for $600K
The F’d buyer now services the remaining $100K on his mortgage and ignores the lien
After 5 years or so we distract the sheeple with another war or 9/11 event and then pass a ‘home lien forgiveness’ bill while they aren’t looking
