American Homeowner Preservation's plan makes some sense. For a change, this is not taxpayer-funded and the banks are taking the hits, which is the way it should be. We need more fresh ideas like this if we are going to get out of this mess. I wish Obama the best, but his mortgage modification plan is so cumbersome and does not go to the root of the problem: that many homeowners will not stay motivated to pay their mortgage when they owe significantly more than their houses are worth.
"We cannot solve our problems with the same thinking we used when we created them" Albert Einstein. My hat is off to American Homeowner Preservation - at least they are taking a novel approach.