Proposed 'HomeKeeper' Program Would Aid Struggling Mortgage Holders Like JobKeeper Helped Workers
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A "HomeKeeper" program could provide temporary financial assistance to struggling mortgage holders, similar to how JobKeeper helped preserve jobs during COVID-19.
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It would work by the government taking a small equity stake in the property equal to the value of assistance, to be repaid later.
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It would target working-class families who lack resources like the "Bank of Mum and Dad" to weather interest rate rises.
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Over 30% of mortgage holders report being under stress. Measures lag reality and miss vulnerable groups.
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It need not blunt interest rate policy. Support could prevent collateral damage and loss of homes until rates ease.