Forestall Foreclosures by Reestablishing Fair Market Value and Clear Title.

Through the exercise of Emanate Domain, seize property that is in an underwater condition of its morgage, pay off the morgagee at the fair market value, reestablish clear title to the property, establish a new morgage to the borrower at the fair market value of the property, and then publicly auction the morgage note. This entails no expenditures on the part of the government, offers the morgagee more value than that realized through foreclosures, keeps the homeowner in the house, curtails the decline in property values due to neighboring foreclosures, and the motivation to walk away in default. Exigent circumstances created this condition; circumstances that require creative solutions.