Having a failed home loan modification program means never having to get it right…
The Treasury’s now fooling around with allowing homeowners to postpone payments and/or allowing less documentation for loan modifications.
The easiest solution, namely allowing bankruptcy court judges to reduce principal or forcing loan servicers to do the same, has been defeated twice in Congress and there’s no evidence that the Administration, despite its recently found zeal to punish the banksters, is interested.
Gorilla says: “Extend and pretend is now less paper, loan escaper!”
