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Among possible ideas to help struggling homeowners, Obama is considering a plan that would let...

Jul. 15, 2009 8:47 AM ETBy: Rachael Granby, SA News Editor9 Comments
Among possible ideas to help struggling homeowners, Obama is considering a plan that would let homeowners behind on payments avoid eviction by renting their homes instead.

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Comments (9)

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Leftfield profile picture
As government workers are conceivably less secure than they've been I've been contemplating what they've contributed to my life. Doubling, tripling and quadrupling public utilities and real estate taxes in 1-2 decades. While making tenant protection so excessive that people who should be in jail have far more rights than I.
There has been a Grand Canyon of disconnect between the rule-makers and the private economy they've been trashing. Now finally it's breaking down. All they can think of is adding burdens. I don't see how it plays out well unless they finally suffer the consequences of their stupidities. Or we go into complete fascism/socialism.
Poor Texan profile picture
The government owns the banks, the auto companies and now the houses! This didn't work in Russia but HOPE springs eternal.
James Quinn profile picture
If they can't make their mortgage payment, why would we expect them to make their rent payment.
Wouldnt the lien holders have to agree to this or will they just be bullied into it by the goverment. If a bank is holding the loan i doubt they would want to do this, they are not in the rental property buisness and I as a shareholder would not want the company i own to particapate in this. This is just going to far, how about they just move out of the house and go rent an apartment.
15 Jul. 2009
The B.O. administration continues to propose breaking legal contracts without concern for the long term effects. Who would be willing give mortgages to any buyer if they know that the government may step in and tell them to give up all their rights to foreclosure, making them an involuntary landlord, with even less rights to evict and recover their investments. I wouldn't, it's no wonder that the banks are less willing to lend to all but the best buyers.
Shimmers profile picture
It would be funny if it wasn't so sad.
youngman442002 profile picture
now socialized housing....who is going to mow the lawn now...a new jobs program there..how about pay for the insurance...another government program...how about utilities..another government program..who gets the help?..an afirmitive action program....this is going down fast.....and no one is saying anythin about it in the news...
Who is going to own the homes?
Government owned banks?
Tony Petroski profile picture
But I have vacancies in my apartment building. Who will I rent to? There's no end to this type of meddling.
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