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Politics : Politics for Pros- moderated

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To: RinConRon who wrote (314747)	7/15/2009 4:34:37 AM
From: unclewest	1 Recommendation Read Replies (1) of 793843

NEW YORK (Reuters) – U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by renting their home instead, sources familiar with the administration's thinking said on Tuesday. Under one idea being discussed, delinquent homeowners would surrender ownership of their homes, but would continue to live in the property for several years, the sources told Reuters. Why not? Obama's family lives in free government housing too. If this program gets approved, nobody will make mortgage payments. Many non-profit agencies manage affordable properties and might be interested in partnering in such a rental program, said John Taylor, the president of the National Community Reinvestment Coalition. "It could be a 'win-win' for the homeowner, the lender who has a troubled borrower and the non-profit," he said. Is this program designed to create more income for Acorn?

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