Obama mulls rental option for some homeowners-sources | Markets | Markets News | Reuters: "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."
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Under the first plan, I wonder who they would "surrender ownership of their homes" to. Let me see. It wouldn't be...oh, THE FEDERAL GOVERNMENT, would it? Because that would instantly create a gigantic stock of public housing, and we just spent the last two presidential administrations trying to unload that nightmare.
And under the second plan, Uncle Sam just becomes Uncle Sugar.
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