Tenants often face eviction after their landlords go into foreclosure. We believe that any program must be designed to maximize the benefit to tenants and minimize tenant displacement. By reducing principal on underwater properties and stabilizing property values, we believe this program will help tenants by making their landlords less likely to default. Furthermore, the foreclosure crisis has driven up the cost of rentals because millions of families who used to own a home have been forced into the rental market. By ebbing the coming tide of foreclosures, this program will also ease pressures on rent prices.