Sounds like a good idea to me so it’ll never happen

CEPR – The Subprime Borrower Protection Plan:

Gives homeowners facing foreclosure the option of renting their home for as long as they want at the fair market rate. This rate is determined by an independent appraiser in the same way that an appraiser determines the market value of a home when a bank issues a mortgage.

There’s a little bit of it the should be clarified — Baker talks about adjusting rents according to the CPI for local rents, as monitored by the Labor Department. That number can be a little dicey (it does all kinds of imputation) and could well stand improvement.

But for one page it’s a pretty good fix.


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