The House of Representatives (in a bill called the Housing Retention Act) and the Senate (in a bill called the Foreclosure Prevention Act) are attempting to deal with this problem. These bills have many positive attributes, but they fail the key test. For a family now facing foreclosure, neither of these bills contains strong enough incentives to get people to work things out with their lenders. So lots of families are giving up and moving. As a result, by the time either of these bills is enacted, hundreds of thousands of families already will have sent in their keys and turned off the heat.

My father's latest opinion piece.