Foreclosure and Eviction

The Sheriff of Cook County, IL is refusing to evict people from their homes based on notifications from the banks. This position comes after realizing that many of the evictions were of people who were current on all their bills and were living in a rental property. It was the owner of the property who was in default, not the tennant!

Proposition: In situations like that stated above, what do you think of the idea of having the government purchase that mortgage at the current value of the property and let the renter take over payments on a path to ownership? The person who has been diligent in payments is rewarded; the person who took the gamble and lost is in fact the loser.

Thoughts?

Click on "comments" below and weigh in.