Right to Rent a Foreclosure Solution..?

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	Right to Rent a Foreclosure Solution..?

TJColatrella

7-31-2009 11:38 AM

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tags:

foreclosures, obama, sub prime mortgages, geithner, shelia bair, bernanke

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/484bd9a8-c21b-40e6-96ff-cce2d2bed167/AA46AAC7-DF19-42B0-9729-C37565D09D22/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.counterpunch.org/baker07282009.html" href="http://www.counterpunch.org/baker07282009.html" style="font-size: 11px;">www.counterpunch.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><H1 align="left"><EM><STRONG><FONT size="+1" face="Times New Roman, Times, serif">A Remedy for the Foreclosure Crisis </FONT></STRONG></EM></H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><FONT size="+2" face="Times New Roman, Times, serif" color="#990000">Right to Rent </FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><FONT size="+1" face="Times New Roman, Times, serif">By DEAN BAKER </FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><P><FONT size="+3" face="Verdana, Arial, Helvetica, sans-serif" color="#990000">W</FONT><FONT size="-1" face="Verdana, Arial, Helvetica, sans-serif">inston Churchill supposedly once said: “you can always count on the Americans to do the right thing, after they have tried everything else.” This may prove to be an accurate description of the response to the foreclosure crisis that has followed the collapse of the housing bubble. </FONT></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><FONT size="-1" face="Verdana, Arial, Helvetica, sans-serif">The folks in Washington have developed a series of complex mortgage modification schemes designed to keep people in their homes. President Bush put forward the first plan in the summer of 2007. It was entirely voluntary for lenders and came with no government money.</FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.counterpunch.org/baker07282009.html"><FONT size="-1" face="Verdana, Arial, Helvetica, sans-serif">There is an easier route. In recognition of the extraordinary situation created by the housing bubble and its collapse, Congress could approve a temporary change of the rules governing the foreclosure process. This <A href="http://www.amazon.com/exec/obidos/ASIN/0981576990/counterpunchmaga"><IMG width="120" height="186" border="0" align="right" src="http://www.counterpunch.org/bakerblunder.jpeg" /></A>change would give homeowners facing foreclosure the right to stay in their home paying the market rent for a substantial period of time (e.g. 7-10 years).</FONT></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/AA46AAC7-DF19-42B0-9729-C37565D09D22/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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