While I have to take a docket dive into the wording of this bill, I'm not entirely sold on it. I understand there are substantial needs to assist those facing foreclosure after the Fed and other unrulies ultimately got them into the tough spot in the first place. (Side note: I don't subscribe to the "blame the victim" position of the the people should have known better. Buying a home is the American dream and if there is any true way to get to it, people will take it. Additionally I've been through the whole home loan dance...you think figuring out legal and legislative language and bills is hard, try mortgage contracts).

The buy up by state and local governments of foreclosed properties and the amount of money that is being funneled in is of a great deal of concern for me. Not that the people don't deserve some compensation after being had, but the country is broke and the dollar is sinking and this will only make matters worse. Also the holding of assets by governments has always made me cringe, especially if they are originally privately owned properties and assets. If the language of the bills make the government the ultimate lien holders of an already occupied property, that is really cause for concern.