“In an effort to protect the growing number of homeowners in the same situation, the state Senate approved a foreclosure fraud bill Thursday, reining in the growing field of consultants and equity purchasers offering home-saver services to delinquent borrowers. Some have been accused of duping homeowners into signing over their property and then selling for [...]

Sheila Bair, the chairman of the Federal Deposit Insurance Corp., wants the government to make loans to borrowers with mortgages they can’t afford, particularly those buyers who had high levels of debt when they originally took out their home loans.
from the Boston Herald

I guess I should expect the government to think it’s a good idea [...]

Foreclosures have been in the news quite a bit over the last year, politicians and economists are throwing opinions and plans out on a daily basis so it seems like an appropriate time to take note of what is being proposed and the logic behind it.  Or maybe there is no logic, just soundbites?