Oftentimes, in the current economy, a homeowner needs to move in order to be within a reasonable distance to his or her new job. We believe that the Obama administration should work with the banks to implement a program that would allow a homeowner to swap their home for a home with a value similar to their current mortgage.
This is a win-win created when a homeowner swaps his or her current home for a home that is currently in foreclosure in their new location. By so doing, the bank ends up with 1 foreclosed property on the market instead of 2 and the homeowner will be able to continue to pay on the full amount of their mortgage.