The Obama administration is looking into creating a plan where mortgage borrowers who have fallen behind on their payments may now have the United States government make the payments for them, and then pay the government rent in the process.
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.
Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty. Reuters.
So let me get this straight. The federal government is making cars at GM, and now wants to be the largest landlord in the country? I read that the airlines are in trouble
Your thoughts?
File Under: When does it end.
Source: Reuters
