If more lenders follow Bank of America it could clear the way for more mortgage companies to cut borrowers' principal balances on their primary loans. But administration officials appear wary of subsidizing such reductions with taxpayer money.
That could spark a backlash from critics who claim it's unfair to people who are still paying their mortgages on time and a bailout for banks that made reckless loans.
The article goes on to say that dramatic changes are needed (to keep the illusion rolling). Maybe the proceeds from the helicopter ben action figures sales could be used to modify principal.
Source: finance.yahoo.com
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