^^^

Those efforts are misguided, and I hope they fail epically.

Rising home prices aren't a good thing -- they're already overpriced w.r.t. incomes in many areas. In this respect, Chris Christie has the right idea: let the banks foreclose with a minimum of gov't interference, and don't drag out NJ's already-long foreclosure process any longer. Lower prices and more homes for people who can actually afford them to buy.

Foreclosures should only be "prevented" if you have a genuine hardship or change in situation. Unemployment, health issues, death in the family, etc. Not because you were too effing stupid to read the terms of the loan that you took for 105% of your home's 2006 value (or to pay an attorney to explain it to you), and it reset to a higher rate from the teaser. In that case, hope the door thumps your skull on the way out.

Government shouldn't "prevent" them. Unfortunately, it is, and this makes it harder for banks to enforce loans, even if they make sense with respect to home values.