[quote=flu]Did any really think these loan mods wouldn’t have strings attached?[/quote]
I could see doing a good faith mod if you bought a house and the house had significantly declined in value since you bought and you still had the original loan.
However, anyone who either got a stupid loan (e.g. 3 year ARM that they could barely afford and who was depending on home appreciation) or who took money out of the house either to pay bills, buy stuff or invest in additional real estate…sorry.
We shouldn’t reward greed and/or stupidity. Which is the same reason that I don’t think we should have bailed out wall street either.
