“Under the terms of the pilot program, which will be offered initially to about 1,000 consumers only in New York, Nevada and Arizona, homeowners will give up the title to their property in exchange for bank forgiveness of their mortgage debt”
Seems like a better way to get out from an underwater home than short sale or just leaving. Might unchain those stuck underwater in God forsaken places so they could come back to the big cities looking for jobs.
