Arizona's SB 1451 -- Does Arizona Have the Right to Save Itself from Drowning in Underwater Loans?

"Arizona's Senator Michele Reagan (R-Scottsdale) is a very courageous politician. This year she has introduced SB 1451, the "Housing Finance Reform Act of 2012," a bill that would solve the state's negative equity problem by providing homeowners that are current on their mortgages, with a way to refinance their loans at or near current market value.... without costing the state a nickel."