[quote=briansd1]Not so bad for savers and those with good credit.
Those with bad credit and underwater/upside-down can’t refinance anyway.[/quote]
Those with bad credit shouldn’t have been able to own a house in the first place, so they got more than what they could other wise. Add in loan mod and hindsight make them look much smarter than those savers.
BTW, it is bad for savers. It means nominal housing price won’t crash like they wanted it to. It also mean that their cash is earning next to nothing in interest.
