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In Oceanside, Calif., north of San Diego, people paid $650,000 to $750,000 in 2003 and 2004 for row houses on Cleveland Street, said Chris McBrearty, certified mortgage planning specialist, in Carlsbad, Calif., who wrote many mortgages there.
"Typically, when people sell a business, the first thing they do is pay off their mortgage, but that may not be a smart financial decision," Mr. Nicholas of the mortgage planning institute said.
The first step for distressed homeowners, said Rhonda Porter, a certified mortgage planning specialist and broker in Seattle, is to pull out their loan documents and see what they say.
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On Tuesday, Mr. Obama called the McCain mortgage plan one of his "very bad ideas".
As Elizabeth Warren, the Harvard bankruptcy expert, puts it, "The administration's subprime mortgage plan is the bank lobby's dream".
The second type of scheme - the cash release or roll-up mortgage plan - is more of a gamble.
Fairness is helping young people get a foot on the housing ladder, with Labour's improved shared-ownership mortgage plan.
Officials in Suffolk County, N.Y., where about 10 percent of the homes are valued at less than their loans, are also considering the mortgage plan.
Some economists argue that the plans are too ineffectual, others that they are too opaque (estimates for the mortgage plan range from $75 billion to $275 billion and up).
Union officials are working to develop a no-down-payment mortgage plan for firefighters, police officers and other moderate-income union members seeking to buy housing.
Why not have an opt-out home mortgage plan, based, for example, on a 30-year, fixed-rate loan, with sound underwriting and straightforward terms?
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com