You need to get hold of the nice folks at ACORN, and they will give your mortgage holder what-for and literally force him to give you whatever you want. It is done all the time in Chicago, and Osama was an instructor for these activists.
Yes, I watched the debate, and heard that proposal on letting judges decide how much you still owe. Amazing. I think it would generate a lot of countersuits by the mortgage holders. Someone will get rich representing these people.....lawyers.
The effect such a policy would have is that no bank would risk financial loss by giving out mortgages. Why should any private business run the risk that at any point a court would determine that they will have to write off a significant portion of any real estate loan? They will simply get out of the mortgage business. Now perhaps this is all part of the democrat's plan to get rid of private ownership, or maybe they're just too stupid to understand the consequences of their actions. Either way, America will probably not survive an Obama presidency.