I would like to set up a non-profit trust which would broker deals between banks and homeowners in distressed mortgages in order to purchase the property and then arrange a more equitable deal with the homeowner. The homeowner would be allowed to continue to live in the house, and pay rent at a lower level than their existing mortgage. The agreement would include a rent-to-own provision, and all of the rent payments less the administration costs would go towards the home payment if they chose to exercise it.

The fund would also actively seek to purchase foreclosed property to keep them out of the hands of flippers and land-banking speculators, and attempt to find the original owners or other qualified low income families to rent the properties with similar rent-to-own deals.

If the banks and speculators are allowed to control the housing price correction, entire neighborhoods are at risk of increased crime rates and lowered quality of life as the number of empty un-maintained properties rises and homelessness increases.