I am sorry but I disagree. As I said the first part of the plan is fine, that is the repossession of the homes due to emminent domain. The second part of the plan which is simply subsidizing the homeowner is not good. A plan of this manner will not determine the true value of the home. A plan of this manner takes no contingency into effect for recidivism. A plan of this manner will not be able to easily discriminate between fraud.
What is the huge moral crime against asking people to live within thier means rather then bending the rules and accomodating the means to fit thier budget or lifestyle? The alterations I provided remove all arbitrary facets of the plan. They allow the absolute true value of the home to be determined. They provide a new homeowner, or in some cases the old homeowner, who will be requalified and is much more well positioned to pay the loan properly. Finally the sale of the home itself will become a TRUE comp, rather then a HIDDEN comp and it will serve to help the entire housing market adjust faster and in a more true manner.
