“What has to change? Well I believe there should be no more distinction between recourse and non recourse money. If people are simply not going to comprehend that home ownership is a different vehicle then an investment then ultimate responsibility must be incurred in a default unless it can be a well proven hardship.”

I agree with you completely Adam.

My wife and I were just discussing this topic as a result of the other thread. We think it is likely to change. She thought it should be part or loan modification. I thought it would be unfair, as those consumers are somewhat under duress.

Patientlywaiting, thanks for reminding me that it is there to protect the lender as well.