patrick.net

Dennis has a plan, and it is the fairest one I've heard:

My bail-out plan would be for the bankers/government to facilitate downsizing the homedebtors into a house they could really afford. Say homedebtor Joe is facing foreclosure in a “D” tranch house, but upon investigation it is determined Joe could actually afford a (smaller and cheaper) “H” tranch house. Since there would be numerous “H” tranch houses in Joes area, he would be offered to pick one, move in, and assume the loan.

I know the last thread has some discussion of this idea already, but it's such a neat idea that it deserves its own thread.

Patrick

#housing