One significant problem still facing our housing market is the alternative-A and prime borrowers who are now in a negative equity position; were even 15% of these upside-down homeowners to be foreclosed upon, another 1.5 million-plus units would be added to the housing stock for sale — doubling the coming deluge from subprime borrowers.

A rapid, and inexpensive, way to drastically limit this potential flood is needed.

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