Reuters says U.S. Officials are weighing a plan to allow borrowers who are falling behind on their mortgage payments avoid eviction by surrendering their home to their lender and paying the lender rent. This is in the think tank because Obama’s Hope for Homeowner’s Plan is not working as they’d hope. This way those who cannot afford their home can still ive in the home for several years. Do you think this is a good idea? Comment where you see “Responses” and at the top right.
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The article goes on to say that 1 in 5 homeowners owe more than their property is worth and with record unemployment today, the Treasury Dept. is looking at ways to save jobless homeowners from losing their home.
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Concord, CA Contra Costa County
