Is Baker-Samwick finally getting traction?

By Felix Salmon
July 14, 2009
Baker-Samwick proposal which I resuscitated in the Atlantic this month? Well, it seems to have got some traction:

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Remember the Baker-Samwick proposal which I resuscitated in the Atlantic this month? Well, it seems to have got some traction:

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.

I’m hopeful. Better late than never!

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