Bloomberg reports that Lewis Ranieri says banks should offer debt-for-equity trades with homeowners facing foreclosure, or who owe more than their property is worth.  The head of investment group Ranieri Partners LLC, he said many people of modest means were coached into putting down less than 10 percent on a property, and lied about their income in reaching for the American Dream.  Ranieri suggests homeowners who are in over their heads hand over the keys, accept a lease based on their ability to pay, and if things go smoothly, they will get their house back after a pre-determined amount of time.  He says there are 11 million mortgages in danger of foreclosure on the U.S. housing market.