NEW YORK, July 14 (Reuters) - U.S. government officials are weighing a plan that would let borrowers who have fallen behind on their mortgage payments avoid eviction by renting their homes instead, sources familiar with the administration's thinking said on Tuesday.
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.
As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said. (Reporting by Patrick Rucker; Editing by Diane Craft)
The only mention of Obama here is in the attention grabbing headline. What officials in the US government are speaking? This article has no substance and therefore no merit! And even if fact, I fail to see how it would make Obama a communist. The loans are defaulted, the owner loses title and is allowed to rent the property instead of being evicted immediatly. Merely a breathing space.
Buddahaid
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