If I am reading this correctly the Township officials wish to take ownership of the underwater properties that have not received or have received a decision regarding modification and refinance the mortgage so that the home owner can remain in their home and become a viable taxpayer again. I know that is a mouthful and I hope I am synopsizing it correctly. Looking at it  from a consumer point of view tat is a home run which would benefit everyone concerned. Putting aside the constitutional question and legal ramifications I see this as a very constructive proposal that would retain the homeowner ,who would  maintain the home, the tax authority who could continue to collect taxes and continue providing   vital services to the community.  We would not have a situation that existed in one the of communities where  the township officials had to tear down the abdoned structures because the homeowners were evicted and the bank let them be in squalor. If anyone is waiting for me to feel sorry for the banks and the mortgage companies leave the page. What concerns me is that ALTA was quick as the proverbial bunny to jump in on the side of big banks and mortgage companies and join in  protest with against this humanitarian proposal. a proposal that would lessen the amount of  foreclosed properties and  I did not see any action of the Proposed HR4323 or anything that affects the independent title agent. It is amazing that a group who is ' vested "( for a lack of a better word ) to protect and defend the title industry does so selectively.

I that if they can work out the legal and constitutional issues they should proceed and do what the banks should be doing to preserve homeownership.Maybe a fresh look at the policy for issuing mortgages and a consumer driven criteria may be just what the doctor ordered.From this page to the ears of the Almighty.