Mortgage Regulators Still Miss the Opportunity of “Homesteading 2008″

Everyone seems to have a plan and non of them are having great impact on the housing problems. That’s mostly because the most intractable part of the problem is that too many houses are overvalued, driven by fog a mirror housing finance that purshed demand for homes beyond the natural real need curve to a speculative demand dynamic and that will not be changed a lot by any plan out there, except possibly this “Homesteaders Act of 2008″

1. Change the whole deal and keep all current occupants in the house with a troubled mortgage as follows:
   1. Before foreclosure modify the mortgage deal to a profit sharing deal “Homesteading Act of 2008) with the owner occupant by lowering rate so all housing finance cost are less that 33% of gross income.
   2. Foreclose ASAP on non occpant owners and offer financing to the renting occupant as to the
2. Laws need to be changed to facilite this and formulas for profit sharing must be determined.

IMMEDIATELY send this or talk about it with you political prepresentatives, I have seen NONE talking about this human solution.

Send it to your press outlets and watch them ignor it.