Republican presidential candidate Mitt Romney has offered the outline of his housing policy proposals.
In a new page added to the candidate's website, Romney presents what he calls "A Plan To End The Housing Crisis." The four-part solution, presented here verbatim, is as follows:
- Responsibly sell the 200,000 vacant foreclosed homes owned by the government;
- Facilitate foreclosure alternatives for those who cannot afford to pay their mortgage;
- Replace complex rules with smart regulation to hold banks accountable, restore a functioning marketplace and restart lending to creditworthy borrowers; and
- Protect taxpayers from additional risk in the future by reforming Fannie Mae and Freddie Mac.
Romney's website claims the federal government owns "almost half of all of the foreclosed homes in the country," while the candidate promises to "facilitate creative alternatives to foreclosure for those who cannot afford to pay their mortgage" - however, the specifics of these alternatives were not spelled out.