Harvey,
Y’all don’t get it.It’s not common sense and it is idiotic.
There is no reason to reduce principal and take a loss when the interest rate can be reduced and lower the payment.
‘homeowner’ has to live somewhere. If you lower their payment and they still cant afford it, they have no business staying there.
There is no reason to reduce principal, It’s completely unfair to others who have struggled to make their payments.
I’m convinced that idiots come up with these programs.
I understand foreclosure but it rarely has higher costs
than principal reduction.
