Overview: The Home Ownership Preservation Program (HOPP)

There is an ancient Chinese proverb: No matter how far down the wrong path you have gone---turn around.

The US Tax Payers are calling on Congress and the Obama Administration for a specific plan of action with clear direction and details to address the current economic crisis our country is facing.

The Home Ownership Preservation Program (HOPP) is the best plan created thus far to address the current foreclosure crisis and when implemented will act as an effective stimulus to kick start general economic recovery. It’s time for a fresh approach with new ideas and energetic leadership.

HOPP:

1.     Balanced

2.     Transparent

3.     Fully Accountable

4.     Devoid of Free Rides through “Shared Sacrifice”

5.     Avoids Foreclosure

6.     Protects Tax Payer’s Interest

7.     Provides Equity Participation

8.     Removes Original Lender

9.     Offers New Lender Excellent Chance for Repayment

10.  No Loan Modifications Required

11.  No Governmental Guarantees

12.  No BAD BANK

What I’m asking you is to please tell me why this plan will not work to address the current foreclosure crisis at the causal level and simultaneously kick start the economy by getting banks to once again start to prudently lend money?