[quote=spdrun]And why exactly should BoA be obliged to give deadbeat borrowers a free ride?

Don’t pay child support: go to jail
Don’t pay car loan: get car repo’ed

Why should mortgages be a sacred cow?[/quote]

They’re not a sacred cow. Millions of homeowners have had their loans foreclosed. That’s not the issue here. The issue is good faith bargaining. Lenders took risks. Bad ones. And got bailed out, to the tune of hundreds of billions of dollars. Coincidental to that bailout, they were required to negotiate in good faith to modify loans. BofA in particular, and other lenders similarly, have demonstrably failed to do so.