Should Obama help homeowners become renters? Vote now…
Reuters, citing anonymous sources, reported yesterday Obama administration officials are considering a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their own homes , possibly for years. Officials are considering whether homeowners would surrender ownership or whether the government should make mortgage payments for them, tapping an unused portion of $50 billion in housing aid. I suppose if they don’t surrender ownership it’s not technically renting. It sounds like administration officials are testing the idea by leaking it to Reuters and that it may never be offered. The plan could help families avoid a major disruption in their lives. But I don’t think it could stop the foreclosure tsunami. What do you think?
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