3 New Anti-Foreclosure StrategiesHere are three programs that are considered promising replacements for the government's Home Affordable Modification Program (HAMP), which has failed to stop foreclosures.(1) Fannie Mae and Freddie Mac would be encouraged to refinance loans for some 30 million borrowers with high-interest rate mortgages. The new mortgages would be folded into a new round of mortgage-backed securities issued by the government-sponsored finance firms.(2) The right-to-rent plan would offer delinquent borrowers an option of renting their foreclosed homes at a market rate for five years. At that point, owners turned renters would have another chance to buy their homes at market value. It's a compromise. Borrowers lose their homes, but lenders have to accept lower payments.(3) Mortgage cramdowns give a bankruptcy judge the right to consider all of a borrower's debts and create a solution that would force all interested parties, including holders of mortgage debt, to compromise.Source: National Association of Realtors®November 09 2010 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.