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Mortgage Resolution Partners will focus on mortgages where the borrowers are current on their payments but are "under water," meaning their mortgage costs more than the home is worth. After being condemned and seized, the mortgages would be rewritten based on the homes' current values. The borrowers would get to stay, but with cheaper monthly payments.

Uh... these people DO NOT need any help. They are current on their mortgages.

Don't distort the market! It was a risk; if they want to recover on their "investment" just stay in the home longer. Get over your self-entitlement and accept responsibility for the decisions and gamble you took.

This get rich quick scheme of house swapping every few years needs to stop.

Let's be honest, that's what will happen. These people will turn around and sell out as soon as equity starts to build which will be far faster than it otherwise would've if gov't didn't try to change the rules and steal money from the lenders or taxpayers.

This scheme can start a new bubble while undermining basic freedoms.

"Let's be honest, that's what will happen. These people will turn around and sell out as soon as equity starts to build which will be far faster than it otherwise would've if gov't didn't try to change the rules and steal money from the lenders or taxpayers."

Great point. And this will make it easier for those who are current but underwater on their mortgages to get into a position to sell their houses and move the heck out of California.