States: Let taxpayers cover your mortgage

Subject: txt cali sclm pubmny -
Unemployed? Owe more on your mortgage than your home is worth? Your state might one day pay your mortgage. Giving people free money to cover their home loans is just one of the radical ways that four states -- Florida, Michigan, California and Arizona -- plan to use $1.4 billion the Obama administration is sending their way to help the unemployed and underwater avoid foreclosure.

But other housing experts warn that paying off loans creates a moral hazard and could actually dissuade people from looking for work...

[Moral? What's that word mean?]

READ MORE