The big problem with that rule, and it is a common theme in most house rules, and in many games other than Monopoly is that it puts back into play money that should have been destroyed.

Games have a fine tuned balance between resource sinks and sources, if you break the balance, for example by removing a sink, as it is the case here, you break the game. Here it tends to result in much longer and boring games.

Plus, it is a poor comeback mechanism. If you don't have property, cash alone is not enough to get you back into the game. Monopoly already has a limited but better designed comeback mechanism with "repair" cards.