In reference to the article, “More assistance with insurance for Maui fire victims needed, advocates say” (Star- Advertiser, Sept. 29): Not only is it time for the insurance companies that have benefited from the insurance premiums paid over the years to step up to assist those insured victims, it is time for Hawaii’s banks that have benefited from the high mortgage rates and low interest paid on savings accounts to step up.

I propose a mortgage plan set out over a 45-year term with an interest rate set at half the existing prevailing rate, with the only requirement that borrowers not be allowed to sell their properties for the first 10 years of the loan.

These loans could be partly subsidized by state bonds and the federal government’s Fannie Mae program, with the insurance companies providing lower rates.

John Rupert

Palolo

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