This is bad advice, don't pay the banks, and default. You owned the place, and now you need to rent it? Fu#k that, and once and for all F#$k Dean Baker, who refuses to engage the real criminals in the sub prime mortgage mess.
A better solution would be to allow Bankruptcy judges to lower principles on fraudulently appraised properties. Baker is a patsy, if he offends people across the street at the ABA or the Treasury Department he'll lose his rent money.
Stooge! Goo'bye FalseOut.

Dean was too stupid to see the housing bubble too. Dean should go work for the Heritage foundation, and rename TruthOut to "We whine and pretend we're progressive, but we bow to the Status Quo." Foreclose on Dean Baker, tell the Ford Foundation he's an avowed fool,

No Obamavillas there, YET!

While the Obama Administration's policy to bend over backward to achieve a compromise with the Repugnants may be a wise policy for healing the wounds of our society so people can start talking to each other; unfortunately, the policy is based on the assumption that the other side is capable of understanding about the LEADERS responsibility to making society a pleasant experience for people. It may not be possible to force a bunch of low IQ, self-others-loathing true believers comprehend the nature of society. Most extremest Repugnants seems to be the born-again types, the ones who live in 21st century but their minds are frozen in the first century when men lived like monkeys. In such a situation, Mr. Obama has shown that his party may have to force health reform. Albeit, it is not really a health REFORM, it is manna from heaven for insurance companies if we do not have a publicly run system competing with the obscene profits of the insurance maggots.

The Democrats are too spineless, fearful and self involved to go it alone and do what the VAST, OVERWHELMING MAJORITY OF VOTERS SENT THEM THERE TO DO... It seems now that they couldn't govern a school lunch even if their life depended on it... They have no collective smidgen of an ideology to guide them, and what they appear to have become is basically a --'Re-Election Machine based in the sales pitch--- "I'm not the ''''other guy''''...... How disappointing Democrats have turned out to be. After the last election, I feel like I need a shower and perhaps shelter from the Dark Rise of the CONservative Wacko Republican Shit Storm about to come because the Democrats came on like Gangbusters and turned out to be nothing more than an even shorter version of the easily sidestepped Maginot Line... AND SO... What WE THE (last on the list of anyone's considerations) PEOPLE seem left with now are.., The Imaginarium of Loosely Affiliated Smiley Faced Democrats and the Population of Completely Ruthless, Seething, Insane Republicans... And with both so totally grounded in self serving nonsense, what kind of choice is that..?

With the predictions pointing more and more foreclosures, it's important that states know how to combat the situation. Arizona is giving an example..

Regards,
Tony
http://www.foreclosurelistings.com/

Dean can always go get a job at the neocon Washington Post, place is already the number one employer of vichy hacks, incapable of writing anything with honest depth and analysis.

Dean Baker this article is a lil' disapointing. This rentin' deal doesn't seem like it works out so well. Re-evalua tion on mortgage or include it in bankruptcy.
Maybe credit card debt should also be re-included in bankruptcy.

The poster above has no clue, simply no clue,
Fannie Mae underwrote impossible loans, bigger Financial Institutions bet against them,
since this quasi-government underwriter would be bailed and rescued, no one really cared whether anyone could actually "pay back". Such a narrow view of what actually happened, as if the brokers, realtors, appraisers were all concerned about regulations that didn't exist,
They were concerned only with closing a deal,
and they did adhere to regulations that were crafted by so-called regulators, like John C Dugan at the OCC in Treasury, meaning the banks are actively protected by engaging in loan shark activity. Does the poster above consider Canada? And why "mysteriously" they
didn't have a subrpime crisis?
We absolutely need to continue to place blame where it belongs. And in yet another disservice to the whole problem, Baker only seems to focus on the plight of the victim.
There are a number of techniques to prevent blame being cast onto the true purveyors of this outrageous theft, again Baker cannot/will not defend homeowners, the middle class, and millions of Americans whose lives in many ways have been hurt by the actions of gamblers. He's outlived his time, his half-assed liberal gurgitations simply have no place in the reality that confronts Americans miles away from the cushy K street corridor. Why not consider - just stop and consider where Dean gets his funding? Don't those same foundations profit from dropping bombs? (yes)

TO BAD "This legislation" AND "A bill was just introduced in legislature" WAS NEVER GIVEN A NAME. WHAT BILL OR LAW ARE YOU GUYS TALKING ABOUT. LET ME HELP YOU.

http://www.whitehouse.gov/blog/2010/02/19/helping-hardest-hit-housing-markets

http://www.azleg.gov/FormatDocument.asp?inDoc=/legtext/49leg/2r/bills/hb2626p.htm

Maybe this will help those who aren't scared of a little reading something of substance. Instead of an article that doesn't include REAL TRUTH AND INFORMATION!!!!!!!!!!